UPDATED 9/21/2021: This is the latest update to the software. The new version includes the following changes.
1. We added the ability to offset and customize the amount of physical space between the bars and the entry counts printed on the chart. (i.e. closer or further from the candles).
2. There is now an option of a sound alert on an upcoming 2nd entry as well as when the 2nd entry triggers.
3. We added the ability to toggle all prior entries on/off to keep the chart cleaner and only have the most recent short and long entry appear on the chart.
4. Bug fix. When there is a possible 2nd entry as well as a 1st entry in the same location, the previous version printed both a 1 and a 2 on top of each other. This was corrected in the new version.
The original programming and updates for our 2nd entry indicator were designed and created by PureLogik Trading. It took many hours of emails, video conferencing and coordination between multiple programmers to make this possible.
The purpose of this indicator is to assist new traders in spotting 2nd entries as you learn to read a price chart. We recommend that you use this indicator for training purposes only. It is designed to help you learn to find and spot 2nd entries on your trading chart. Once you learn how to identify a 2nd entry on your own, you should discontinue any further use of the indicator and let your eyes do the work for you!
Please make sure that you understand that this indicator is NOT designed as a trade entry tool or to point out entry locations on trades by itself. No indicator can do that with consistent success, so do not try and use our PATs 2nd entry indicator alone when making your trading decisions.
With the PATs trading strategy, context and market structure must always be considered prior to entering any trade. This indicator is not designed to determine context or market structure, but rather to help day traders find and spot second entries. The PATs second entry indicator will point out all second entries, even those we may not want to use for trade purposes, so please keep this in mind when using our indicator. It is designed solely as a training tool to help new chart readers spot and identify second entries. It is not designed for anything more than pointing out second entry patterns on a chart.
A purchase gives you the rights to one license, meaning you can use the software on only one machine at a time. After purchase, you must register your software using the included instructions. If you buy a new machine or want to change to a different machine, you can change your registration, but only one machine may be registered for each license. If you want to use the software on more than one machine, you will need to buy more than one license.
*NOTE ON INSTALLATION: You must unzip the file that you download after purchase. Inside that downloaded zip file are two files. One file is a word document with step-by-step instructions, so read that word document first. The other file inside the downloaded zip file is the indicator. Do not unzip the indicator inside the downloaded file, as it must be installed as a zipped file. If you unzip the actual indicator, it will not install properly. If you try and install the downloaded zip file, you will get an error message that says you are trying to install an older incompatible version file, so make sure you follow the directions properly. It is amazing how many people that try to install the downloaded file without unzipping it first, so please follow the directions and you should have no problems installing the indicator.
*NOTE ON ENGULFING BARS: The PATs 2nd Entry indicator is an accurate tool for finding and spotting second entries, but it cannot make sound judgement decisions on engulfing bars. Therefore, you should avoid any second entry notations that the software points out where either the first or second entry has an engulfing bar as part of the equation. An engulfing bar is any bar whose high and low is outside of the high and low of the bar just to the left of it.
Demo Video: You can see me demo the indicator in the video below. Be sure to watch the video in FULL screen mode, as it is difficult to see the stems on some of the bars and the breaks higher or lower without a full screen.
RISK DISCLOSURE: Trading futures and options involves the risk of loss. Please consider carefully whether trading futures, or any other market, is appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. You should understand these risks before using any of our trading materials or indicators.
Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, so carefully consider the inherent risks of such an investment, accounting for your own personal financial condition.
