A trading signal strategy that generates buy and sell signals based on statistical probability of candle patterns, optimized for short-term trading across different timeframes.
Explore complementary indicator rolesHow it works
The IG Signals+ indicator generates trade signals at the beginning of each candle by analyzing statistical probabilities of candle patterns across different timeframes. It follows a specific cycle of up to two trades, where if the first trade results in a loss, a second trade signal is generated at the start of the next candle.
The script detects candle cycles, assigns indices to candles, and recognizes reference candle colors to identify potential pattern reversals. It implements specific rules to avoid false signals, particularly when a Doji candle appears, which interrupts the signal cycle and prevents signal generation until a new valid cycle begins.
Why it may be useful
This signal strategy provides traders with an objective, systematic approach to identifying potential trading opportunities across different market conditions. By analyzing candle formations and their statistical probabilities, it offers a structured method for entering and exiting trades with clear, predefined rules.
The indicator helps traders who struggle with market analysis by providing visual alerts and notifications, enabling faster trade execution. Its probabilistic approach allows traders to make more informed decisions, reducing emotional trading and providing a framework for consistent trading strategy.
When to explore it
The IG Signals+ strategy is most effective in short-term trading environments, particularly in 1-minute and 5-minute timeframes that support multiple daily trades. It works best in markets with clear directional movement, where price levels are fluctuating significantly and trend indicators like Ichimoku clouds can confirm market direction.
Traders should avoid using this strategy in sideways or highly indecisive markets where price movements are minimal. It is crucial to combine this signal with other technical analysis tools such as support and resistance levels, Fibonacci retracements, and moving averages to increase trade accuracy and reduce unnecessary risks.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
