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The latest code, the Head Finder can be downloaded from the ENVIRONMENT / DOWNLOADS section.

I made it for 4H, but admittedly using it on 30 min as well.

It plots 2 things:

  • white flags for perceived left shoulders that would be re-visited, and
  • blue butterflies for perceived heads, that should not be exceeded or be broken

Of course not all heads and left shoulders would get found, so do not rely on this blindly, yet the plots are rather useful – according to me.

Now, the area of the lower fold of the right flag is the target area, but it only lines up right on 4H.

The heads are where things happen. I define a fake out at about 30 pips, you should surrender and possibly reverse beyond that point.