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Recently I came across an interesting indicator. The hypothesis behind this indicator is that the structure of the market repeats and reflects itself. One of such examples of repeating structure can be Eliot Waves structure.

Have you ever tried to base your trading on Eliot waves? If you are not an expert in Eliot waves probably you had a tough time identifying the structure in current time. The same thing goes with any other structure. It seems like you can easily identify the structure (Eliot waves for example) on the history of the market. However when it comes to the identifying it in present moments there is no certainty.

This indicator called CTG-Structure-x can find a repeating structure in the price action and show you the future price action based on that structure. You can use this indicator even if you don’t use any repeating structure in your trading. Since it forecasts the future price action you can build a trading system that employs the shown future price action.

The principal of this indicator is based on moving average with changing period. The higher the number of candles from the center of the repeated structure the higher the period of moving average. The figure below shows such moving average.

So if you are interested to try this indicator the download link is below.
The following are the input parameters of this indicator:

• k3 - coefficient of correspondence of the repeated structure. By default k3=0.8 (80%). The lower the parameter the less accurate is the structure. Therefore it’s not recommended to set less than 0.7
• eq- coefficient of moving average period increase. By default eq=2.1. The period of the moving average changes by the following rule: Period=(number of candles from the center)/eq. So if eq=1 then the period of a moving average is equlal to the number of bars from the center of the structure.
• xdist- number of forecast candles. By default xdist=55
• r1- the size of the minimal structure in number of candles. By default r1-32. This indicator looks for a small structures first. If the smallest structure is reflected in current price action then the indicator shows it.
• Color1 - the look of the future price action. It can show you the price action in bars or in line.

Here is the download link: CTG-Structure-x

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