Trading with the popGun pattern
About Cordula Lucas' PopGun pattern
The PopGun pattern was identified by trader Cordula Lucas. She actually identified three variants of this candlestick pattern. The PopGun pattern is particularly meaningful as a trend reversal pattern in time-frames of 15 minutes and higher.
Included in the PopGun pack
1. Automated identification of three PopGun patterns.
2. Automated drawing of the PopGun channel.
3. Two types of trading signals.
4. Possibility to identify PopGun pattern in a higher time-frame and draw it in a lower time frame chart.
5. Combine the PopGun pattern with any stop and target order.
6. Manual, semi-automated and automated trading.
This example shows the basic PopGun pattern. The grey zone indicates the pattern. The orange lines correspond to the high and low of the inside candle. The green lines correspond to the highest and lowest level of the two outside candles. The green lines change colour to blue when a break-out occurs. A break-out is a new candle completely outside the PopGun channel.
The three PopGun patterns
Standard PopGun
Two outside bars, which completely engulf the bar in the middle, the so-called inside bar. The colour of the candles is not relevant.
Double PopGun
Two consecutive PopGun patterns where the candle in the middle is the outside bar for both patterns. The colour of the candles is not relevant.
Double Inside PopGun
Two outside bars, which engulf two consecutive inside bars. The colour of the candles is not relevant.
PopGun trading signals
The NanoTrader platform can generate signals for all three PopGun patterns. Signals are break-outs out of the highest and lowest level of the PopGun channel. Using the parameters in the designer bar, traders can choose between a simple break-out, and a full break-out.
- A simple break-out is a close price outside the PopGun channel.
- A full break-out is a new candle completely (high and low) outside the PopGun channel.
This example is the basic PopGun pattern and a simple buy signal (first close outside the PopGun channel).
This example is the basic PopGun pattern and a full buy signal (first candle completely outside the PopGun channel).
This example is the double inside PopGun pattern and a simple short sell signal (first close outside the PopGun channel).
Multi time-frame analysis
The NanoTrader trading platform can identify the PopGun patterns in a higher time-frame and draw it in a chart with a smaller time-frame.
This example shows a 15-minute chart. NanoTrader detected a PopGun pattern in a 60-minute (4 x 15') time-frame. This is why 12 candles (4 x 3) highlighted instead of 3.
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The programmers from SignalWorks have seamlessly integrated the three variants of Cordula Lucas' PopGun patterns in the NanoTrader platform. Traders are able to scan different markets for the well-known PopGun pattern in various different time-frames simultaneously.