INDICATOR · BEGINNER GUIDE
TRIANGLE & WEDGE FINDER
Draws triangles and wedges as price squeezes, then marks the breakout.
◆5 classic shapes◆Lines through the swings◆Broke out ▲ / ▼ or expired◆Closed candles only
WHAT YOU SEE · GBPJPY 1H · 18–30 OCT
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1Top line: joins the swing highs.
2Bottom line: joins the swing lows.
3Dots: swings touching a line.
4Breakout: a candle closed outside the lines.
5Label: the shape and which way it broke.
6Colour: purple wedge, blue triangle, grey expired.
Use it in 5 steps
- Switch it onCharts → Basic Indicators (ƒx) → tick Triangle & Wedge Finder.
- Read the shapeFlat top = ascending, flat bottom = descending, both sloping in = symmetrical, both one way = wedge.
- Check the usual wayThe panel’s Usually row says which way that shape more often breaks.
- Wait for the closeOnly a candle that closes outside the lines counts as a breakout.
- Expect surprisesOn our markets about 1 in 3 broke the other way.
Two triangles on USDJPY
USDJPY 1H, 22–30 Oct. An ascending triangle broke out up, then a descending triangle broke out down: both the way those shapes more often go. About 1 in 3 don’t.
The dashboard
- Pattern: the latest triangle or wedge.
- Size: how tall it is (in ATRs) and how many candles long.
- Touches: how many swings sit on the top and bottom lines.
- Usually: which way that shape more often breaks.
- What this means: the status in plain English.
Golden rules
- A pattern, not a signal. It shows no entries, stops or targets.
- The usual way isn’t a promise. About 2 in 3 broke that way on our markets.
- It appears a little late: a swing is only known a few candles after it.
- Always use a stop loss and risk 1% or less per trade.
🔔 Get told when it fires: click Alerts, choose Triangle & Wedge Finder and tick “Triangle or wedge broke out”.
For educational purposes only. The results in this guide come from testing on past prices. Past performance does not guarantee future results, and real spreads, slippage and delays can make results worse. Nothing here is financial advice, and trading carries a high risk of losing money. Read the risk warning.