I need an MT4/MT5 indicator that automatically identifies and draws classic chart patterns and local trendlines on the main chart.
The person who has rich exprience for developinge and trading patterns are preferable!!!Be Alerted: You must know how to draw the trendlien- the basic knowledgy. I dont want to wast time to educate others how to draw trendline. For answering some experts question: to avoid time squandering, you could draw( recent XAU M15 or M30), Trendline and pattern 1-2.
Chart patterns: Ascending, descending and symmetrical triangles; ascending and descending channels; flags, pennants, wedges, double tops/bottoms, and head-and-shoulders/inverse head-and-shoulders patterns.
Local trendlines: Draw rising support lines through at least two valid, progressively higher swing lows, and falling resistance lines through progressively lower swing highs, extending them to the right. Lines must have a meaningful slope and span, with the intervening price action generally respecting them. Small wick deviations are acceptable. Filter out excessively flat, short or duplicate lines, and continue identifying newly formed local trendlines.
Early detection with minimal repainting: Patterns and trendlines must appear before a breakout, rather than being added retrospectively. Do not use future data. Developing structures may update, but confirmed swing points and lines must remain fixed. Invalidated lines must not be repositioned to fit later price action. Please specify how many bars are required to confirm a swing point.
Display: Use dashed lines for potential patterns and candidate trendlines, and solid lines once the structure is confirmed. Distinguish structure confirmation from breakout confirmation. Invalidated structures may either remain visible with an invalidation label or be hidden, according to the settings. Stop extending trendlines after a confirmed break. Can display M15-M30-h1-h4. 1000 candles.
Filtering and settings: Allow multiple patterns to coexist while filtering highly overlapping or duplicate results to avoid chart clutter. Each pattern type and the trendline feature must have an independent toggle. Detection sensitivity, minimum swing size, pattern length, price tolerance, trendline slope and span must be adjustable. Slope must be independent of chart zoom. use TWO buttons for display.
Delivery and acceptance: No alerts or automated trading are required. Deliver source code and compiled files for both MT4 and MT5. Verify detection timing and repainting behavior through bar-by-bar replay.