Signals Pirate™ S/R Tweezers

Atweezerin trading is defined when a candle high/low breaks above/below a key level of S/R before closing the opposite side of the level. This creates a candle wick through a key area of price action, and signals that price was rejected in its attempt to break through the level. The S/R levels are calculated using historically important highs & lows in price action across multiple time frames.

The simplicity of this package ensures traders of all levels of expertise can utilise this tool and experience its benefits to the fullest. The only variable to adjust is the ‘Sensitivity’, which manages how frequently ‘Bull’ or ‘Bear’ tweezers will be identified. A value of 1 will require a perfect tweezer before printing a signal, whereas a value of 10 will be more lenient in the definition and provide more opportunities!

The default settings are the best settings we’ve found so far but you can change them to build your own unique trading strategy. We’d recommend experimenting with these values to find the best results for the asset you are trading, and your own personal trading style.

This tool is best used in confluence with other indicators to have multiple data sets pointing towards the same conclusion, however this can be used as a sole entry finder, especially for scalpers and swing traders!

Direction for use:
1. Use on any asset class and time frame.
2. Fine tune the ‘Sensitivity’.
3. Enter Long on ‘Bull Tweezer’ signal after candle close, enter Short on ‘Bear Tweezer’ signal after candle close, consider only longing if your other technical analysis also has the same bias conclusion.

As mentioned previously, this tweezer tool uses a multitude of S/R detection tools that dynamically operate to function with superior accuracy regardless of what you’re trading. The settings also accommodate and support enough customisation to provide functionality to all types and frequencies of trades, from scalping to long term investing.