MarketPhases Pro
Phase5Level How many percents the price correction must be to become a valid market phase 5.
Phase4Level How many percents the price correction must be to become a valid market phase 4.
Usage
As this indicator ignores the input series, user can use only these 2 methods:
Parameter
phase4Level = 0.2 (0.2 = 20%) phase5Level = 0.5 (0.5 = 50%)
The parameters trendSize, validationMethod, p2Distance, p3Distance, p3BreakageDistance and breakTheTrendByCS are only for the P123 indicator which is used within the MarketPhasesPro. These parameters can be checked under P123Pro descripption.
The most important parameter is the "int trendSize" parameter. It defines which trend is checked
The output value is the phase in the specific trend (1, 2, 3, 4, 5, 5.1, 5.2, 5.3 / as well as the negative values when short direction, see screenshot)
Example
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