| PART | Section | Description | ||
|---|---|---|---|---|
| 1 | INTRODUCTION | Product introduction, what the product helps you with | ||
| 2 | INSTALLATION & SETUP | System requirements, step-by-step installation guide | ||
| Guide to Installing Free Indicators and EAs Included with the Mirage Trading System Purchase | ||||
| 3 | INTERFACE DISPLAY | Explanation of the components displayed on the chart | ||
| User Guide: Trading Lines & Signal Tracking System | The system automatically draws Entry, Stop Loss, and Take Profit lines (TP 1–4) on the chart, tracks price action for hits, records Win/Loss results, and displays real-time performance statistics. | |||
| User Guide : Visualization, Zone Fill, Signal Dashboard & Cancelled Signals | When you attach an indicator to a chart, the system renders the following visual components for each detected signal | |||
| User Guide: MTF SCAN & Dashboard User Guide | MTF SCAN automatically scans all Market Watch symbols across 8 timeframes (M1 to W1) and displays results on a Dashboard grid directly on your chart. | |||
| User Guide : Chart Theme User Guide | Chart Theme is a feature that changes the entire chart color scheme in MetaTrader 5 — including the background, candles, grid, text, and Bid/Ask lines — with a single click. | |||
| 4 | CORE CONCEPTS | Fundamental concepts that the system is built upon | ||
| User Guide: Market Structure Functionality in the Trading System | Identifies trend direction (Uptrend, Downtrend, Ranging) by analyzing swing highs/lows, and detects key events: BOS (trend continuation) and CHoCH (potential trend reversal). | |||
| User Guide : Signal Types, States, and Lifecycle | A signal is the system's notification when it detects a qualifying candlestick pattern on the chart. Each signal tells you the expected price direction and provides suggested entry, stop loss, and take profit levels. | |||
| 5 | SIGNAL FILTERS | Filters that refine and validate trading signals | ||
| User Guide: Trade Direction (Direction Filter) in the Trading System | Defines the allowed trading direction (Buy only, Sell only, both, or neither) as the first filter before searching for entry signals, based on current market trend. | |||
| User Guide: Signal Zone Filter in the Trading System | Eliminates signals not near important price zones, retaining only those connected to market structures (swing high/low, BOS, CHoCH) to reduce noise. | |||
| User Guide: StoplossHunt Filter User Guide — Filtering "SL Sweep" Signals | Identifies higher-probability signals by checking whether price "swept stoploss" before forming a pattern. | |||
| User Guide : Extreme Zone Filter | Extreme Zone Filter is a signal filtering feature that helps avoid entering trades when price is at the top or bottom of a Donchian price channel. | |||
| User Guide: Opposite Signal Filter | The Opposite Signal Filter is an automatic feature that prevents new signals from appearing when you already have an active trade running in the opposite direction.The principle is very simple: Don't buy when you're selling. Don't sell when you're buying. | |||
| User Guide : Quality Filter User Guide | Quality Filter is a feature that helps you receive only the best signals — price patterns formed clearly, with balanced proportions and high reliability — and reject weak signals, dull patterns, and those below standard. | |||
| 6 | TRADE MANAGEMENT | |||
| User Guide : Risk/Reward & SL Method User Guide | Risk/Reward (R:R) is the ratio between the amount of money you accept losing (Risk) and the amount of money you expect to gain (Reward) in a single trade. | |||
| User Guide: Trailing Stop Loss (TSL) User Guide | Regular Stop Loss (SL) stays fixed in one place. You set SL at 1990.00, and it stays there forever — even if price has risen to 2030.00.Trailing Stop Loss (TSL) is different. It automatically moves in your favor when price advances. As price moves up, TSL moves up with it. When price stalls or reverses, TSL holds the best position it reached. | |||
| 7 | CONFIGURATION PARAMETERS GUIDE | Detailed guide to each configuration parameter | ||
| SIGNAL SCANNING CONFIGURATION GUIDE - MIRAGE TRADING SYSTEM EA | Guide to mastering signal scanning settings within the Inputs tab, optimizing trade discovery on a single chart or across the entire market. | |||
| 8 | ALERTS & NOTIFICATIONS | |||
| User Guide: Alerts & Notifications User Guide | Configure push notifications, and on-screen popups when new signals are detected. | |||
| 9 | SYSTEM RISKS & LIMITATIONS | Notes on system risks and limitations |
1. INTRODUCTION
Professional 2-Bar Reversal Detection for MT5
Author: Ich Khiem Nguyen | MQL5: https://www.mql5.com/en/users/khiemni/seller
What is Tweezer Trading System?
Tweezer Trading System detects Tweezer Top and Tweezer Bottom candlestick patterns on your MetaTrader 5 charts automatically. The indicator scans each completed bar for two-candle structures where both bars share a matching high or matching low, signaling a precise momentum reversal point. It displays entry, stop loss, and take profit levels directly on the chart so you can act on signals without manual calculation.
What Are Tweezer Patterns?
Tweezer Top & Tweezer Bottom are 2-candle reversal patterns that appear when two consecutive bars form nearly identical highs (top) or identical lows (bottom), indicating that price was rejected from the same level twice — a sign that the current trend is losing momentum.
Tweezer Bottom (Bullish Reversal)
A Tweezer Bottom appears at the end of a downtrend. The first candle is bearish — sellers push price down. The second candle is bullish, opening near the first candle's close but finding support at the same low. Both bars share a matching low, showing that buyers stepped in twice to defend that price level. This double rejection from the same support signals that downward momentum has stalled and a reversal upward may follow.
Tweezer Top (Bearish Reversal)
A Tweezer Top appears at the end of an uptrend. The first candle is bullish — buyers push price up. The second candle is bearish, opening near the first candle's close but hitting resistance at the same high. Both bars share a matching high, showing that sellers defended the same level twice. This double rejection from resistance signals that upward momentum has exhausted and a reversal downward may follow.
When these patterns form near key support or resistance levels, they become even more reliable signals for potential trend reversals.
How the Indicator Finds Patterns
The indicator scans your charts in real-time and checks each potential pattern against multiple quality requirements:
- Trend context check — Confirms a prior downtrend (for Bottom) or uptrend (for Top) by verifying the direction of the setup candle relative to prior price action.
- Direction change check — Verifies the setup candle is bearish and the signal candle is bullish (Bottom), or setup is bullish and signal is bearish (Top). Both candles must change direction.
- Matching extreme check — Measures the difference between both candles' lows (Bottom) or highs (Top). The difference must be within the configured tolerance (default: 10% of ATR, minimum 3 points).
- Minimum range check — At least one of the two candles must have a range of 0.60× ATR or more, ensuring the pattern has enough body to be meaningful and not a flat, insignificant structure.
Only patterns that pass all these checks appear on your chart, so you don't waste time on weak or invalid setups.
Quality Score — How Good Is the Pattern?
Every pattern gets a quality score from 0% to 100%, like a grade on a test. This helps you focus on the best trading opportunities.
What the Score Means
The indicator evaluates 6 factors to calculate the quality score. It checks whether the candles changed direction (a clean flip is stronger), how much the two candles overlap (more overlap = more pressure at that level), where the signal candle closes relative to the prior candle's range (a close near the opposite extreme confirms the reversal), the Close Location Value of the signal candle (close near the high for bullish, near the low for bearish), whether at least one candle has sufficient range relative to ATR, and whether one of the candles is a doji (adds ambiguity and caution points).
| Grade | Score Range | Quality Level |
|---|---|---|
| A | 80-100% | Excellent — Best signals |
| B | 60-79% | Good — Reliable setups |
| C | 40-59% | Average — Needs confirmation |
| D | 20-39% | Below Average — Risky |
| F | 0-19% | Poor — Avoid |
Quality Threshold Setting
By default, the indicator only shows patterns scoring 30% or higher. You can adjust this in the settings:
- Raise to 50-70%: See only the best signals (fewer but higher quality)
- Lower to 20%: See more signals (more frequent but mixed quality)
- Tip: Start with the default 30% and adjust based on your backtest results
What You See on the Chart
When the indicator detects a Tweezer pattern, it draws everything you need to know directly on the chart:
Signal Markers
- Arrow icons: Green upward arrow for Tweezer Bottom (bullish), red downward arrow for Tweezer Top (bearish), placed at the signal candle
- Quality labels: Score percentage displayed near the arrow (e.g., "Q:72%"), color-coded by grade
Trading Lines
- Entry line: Blue horizontal line showing the pending stop order level (above pattern high for Bottom, below pattern low for Top)
- Stop Loss line: Red horizontal line labeled "SL" placed below the matching lows (Bottom) or above the matching highs (Top) plus ATR buffer
- Take Profit lines: Green lines labeled TP1 through TP4 at 1R, 1.5R, 2R, and 3R above/below entry
Visual Zones
- Pattern highlight: A shaded rectangle spanning both candles of the pattern, color-coded green (Bottom) or red (Top)
- Risk/reward zones: Colored fill between entry and each TP level showing the reward area; red fill between entry and SL showing the risk zone
- Tracking dots: Small colored dots that follow price as the signal progresses
Signal Lifecycle
Signals progress through different states, shown by changing colors and tracking dots:
- Pending: Pattern just detected, waiting for entry confirmation
- Triggered: Entry price reached, trade is active
- Target Hit: Price reached take profit level (signal turns green)
- Stop Hit: Price hit stop loss (signal turns red)
- Cancelled: Signal invalidated before entry (signal disappears or grays out)
You can watch your signals evolve in real-time without opening any menus or panels.
Settings You Can Adjust
Here are the main settings that control how the indicator finds and displays Tweezer patterns:
| Setting | What It Does | Default | When to Change It |
|---|---|---|---|
| Match Tolerance (xATR, 0.10=10% of ATR) | Maximum allowed difference between the two matching highs/lows, as a fraction of ATR | 0.10 | Increase to 0.15-0.20 for volatile markets; decrease to 0.05 for stricter matching |
| Min Body/Range (doji filter, 0.15=15%) | Minimum body-to-range ratio for each candle to avoid doji-dominated patterns | 0.15 | Lower to 0.10 to allow more patterns; raise to 0.20 for stronger body requirement |
| Min Range/ATR (at least 1 bar, 0.60) | At least one candle in the pattern must have this range relative to ATR | 0.60 | Lower to 0.40 for quieter markets; keep at 0.60 for standard volatility |
| Require Trend Bars Before (0=disable) | Number of consecutive directional bars required before the setup candle | 0 | Set to 1-2 to require a visible prior trend; 0 means any preceding bar is accepted |
| SL Buffer (xATR beyond pattern extreme) | Extra distance added to the stop loss beyond the pattern low/high | 0.15 | Increase to 0.25 in high-volatility conditions to avoid being stopped out by wicks |
| Entry Buffer (xATR for pending) | Distance added to the entry stop order level beyond the pattern extreme | 0.05 | Increase slightly for faster markets to ensure the order triggers reliably |
| Min Quality (0.0-1.0, 0.30=relaxed) | Minimum quality score required to display a signal | 0.30 | Raise to 0.50 to see only stronger signals; lower to 0.20 to see more signals |
| ATR Period for volatility | Number of bars used to calculate the ATR for all measurements | 14 | Increase to 20 for smoother ATR on daily charts; 10-14 works well for intraday |
Settings Tips
- Start with all default settings and let the indicator run for a few days to see how it performs
- If you get too many signals, raise the quality threshold to 50% or enable the Direction Filter
- If signals are too rare, check that InpMatchTolerance is not too tight — try 0.15 instead of 0.10
- Always backtest any setting changes before using them on a live account
Best Timeframes and Markets
Recommended Timeframes
| Timeframe | Signal Quality | Signal Frequency | Best For |
|---|---|---|---|
| M15 | Good | High | Scalping and intraday momentum plays |
| H1 | Very Good | Medium | Intraday swing setups, standard use case |
| H4 | Excellent | Low-Medium | Swing trading with well-defined reversals |
| D1 | Excellent | Low | Position trading, high-conviction setups |
Best Markets
- XAUUSD (Gold): Excellent pattern clarity on H1 and H4 — the matching high/low structure shows clearly due to Gold's tendency for sharp reversals at key levels
- EURUSD, GBPUSD, USDJPY: Reliable results on H1 and above; works well at London and New York session open
- US30, NAS100: Use H4 and Daily for clearer signals; avoid M15 on indices due to noise
- Cryptocurrency: Daily timeframe gives the best Tweezer signals; lower timeframes have too much noise
The indicator works on any symbol and timeframe, but these combinations tend to produce the most reliable signals.
Getting Started — Quick Setup
Follow these steps to start using Tweezer Trading System:
- Open MetaTrader 5 and load a chart — XAUUSD on H1 is a good starting point
- In the Navigator panel on the left, expand "Indicators" then find "TweezerTradingSystem" under Custom Indicators
- Drag it onto your chart or double-click to attach it
- A settings window appears — click OK to use the default settings for your first session
- Watch for green arrows (Tweezer Bottom) or red arrows (Tweezer Top) appearing on completed candles
- After a few days of observation, adjust the Match Tolerance or Quality Threshold if you need more or fewer signals
- Enable Mobile Push Notifications in MT5 settings so you get alerted when a new Tweezer signal is detected
That's it! The indicator is now scanning your charts automatically and will alert you when high-quality Tweezer patterns appear.
All Features at a Glance
Pattern-Specific Features
- Matching extreme detection with ATR-scaled tolerance (10% ATR default, minimum 3 points)
- Direction change validation — requires both candles to flip direction for cleaner reversals
- 6-factor weighted quality scoring: directionChanged, overlapRatio, closeVsPrevRange, CLV, rangeATR, isDoji
- Pending entry mode — Buy Stop placed above Tweezer Bottom high, Sell Stop below Tweezer Top low
- Pattern-based stop loss set precisely at the matching low (Bottom) or matching high (Top) plus ATR buffer
The following professional-grade features are available across all our indicators:
| 3 | INTERFACE DISPLAY | Explanation of the components displayed on the chart | ||
| User Guide: Trading Lines & Signal Tracking System | The system automatically draws Entry, Stop Loss, and Take Profit lines (TP 1–4) on the chart, tracks price action for hits, records Win/Loss results, and displays real-time performance statistics. | |||
| User Guide : Visualization, Zone Fill, Signal Dashboard & Cancelled Signals | When you attach an indicator to a chart, the system renders the following visual components for each detected signal | |||
| User Guide: MTF SCAN & Dashboard User Guide | MTF SCAN automatically scans all Market Watch symbols across 8 timeframes (M1 to W1) and displays results on a Dashboard grid directly on your chart. | |||
| User Guide : Chart Theme User Guide | Chart Theme is a feature that changes the entire chart color scheme in MetaTrader 5 — including the background, candles, grid, text, and Bid/Ask lines — with a single click. | |||
| 4 | CORE CONCEPTS | Fundamental concepts that the system is built upon | ||
| User Guide: Market Structure Functionality in the Trading System | Identifies trend direction (Uptrend, Downtrend, Ranging) by analyzing swing highs/lows, and detects key events: BOS (trend continuation) and CHoCH (potential trend reversal). | |||
| User Guide : Signal Types, States, and Lifecycle | A signal is the system's notification when it detects a qualifying candlestick pattern on the chart. Each signal tells you the expected price direction and provides suggested entry, stop loss, and take profit levels. | |||
| 5 | SIGNAL FILTERS | Filters that refine and validate trading signals | ||
| User Guide: Trade Direction (Direction Filter) in the Trading System | Defines the allowed trading direction (Buy only, Sell only, both, or neither) as the first filter before searching for entry signals, based on current market trend. | |||
| User Guide: Signal Zone Filter in the Trading System | Eliminates signals not near important price zones, retaining only those connected to market structures (swing high/low, BOS, CHoCH) to reduce noise. | |||
| User Guide: StoplossHunt Filter User Guide — Filtering "SL Sweep" Signals | Identifies higher-probability signals by checking whether price "swept stoploss" before forming a pattern. | |||
| User Guide : Extreme Zone Filter | Extreme Zone Filter is a signal filtering feature that helps avoid entering trades when price is at the top or bottom of a Donchian price channel. | |||
| User Guide: Opposite Signal Filter | The Opposite Signal Filter is an automatic feature that prevents new signals from appearing when you already have an active trade running in the opposite direction.The principle is very simple: Don't buy when you're selling. Don't sell when you're buying. | |||
| User Guide : Quality Filter User Guide | Quality Filter is a feature that helps you receive only the best signals — price patterns formed clearly, with balanced proportions and high reliability — and reject weak signals, dull patterns, and those below standard. | |||
| 6 | TRADE MANAGEMENT | |||
| User Guide : Risk/Reward & SL Method User Guide | Risk/Reward (R:R) is the ratio between the amount of money you accept losing (Risk) and the amount of money you expect to gain (Reward) in a single trade. | |||
| User Guide: Trailing Stop Loss (TSL) User Guide | Regular Stop Loss (SL) stays fixed in one place. You set SL at 1990.00, and it stays there forever — even if price has risen to 2030.00.Trailing Stop Loss (TSL) is different. It automatically moves in your favor when price advances. As price moves up, TSL moves up with it. When price stalls or reverses, TSL holds the best position it reached. | |||
| 7 | CONFIGURATION PARAMETERS GUIDE | Detailed guide to each configuration parameter | ||
| SIGNAL SCANNING CONFIGURATION GUIDE - MIRAGE TRADING SYSTEM EA | Guide to mastering signal scanning settings within the Inputs tab, optimizing trade discovery on a single chart or across the entire market. | |||
| 8 | ALERTS & NOTIFICATIONS | |||
| User Guide: Alerts & Notifications User Guide | Configure push notifications, and on-screen popups when new signals are detected. |
Common Questions
Q: Why does the stop loss placement vary between patterns?
The stop loss is placed at the shared extreme of the Tweezer pattern (matching lows for Bottom, matching highs for Top) plus an ATR-based buffer. The exact distance depends on current volatility. In high-volatility conditions the ATR is larger, so the buffer is wider. You can switch to Donchian Channel mode or ATR Multiplier mode in the Stop Loss settings if you prefer a fixed-distance method.
Q: What is the best timeframe to start with?
H1 is the recommended starting timeframe. It provides enough signal frequency to observe the pattern regularly while filtering out the noise common on lower timeframes. Once you are comfortable with how signals behave on H1, you can move to H4 for higher-conviction setups.
Q: How do I reduce the number of signals?
First raise the quality threshold to 50% or higher in the settings. If you still get too many signals, enable the Direction Filter to allow only signals aligned with the current market structure trend. You can also enable the Extreme Zone Filter to block signals near overbought or oversold levels.
Q: How is Tweezer different from a Double Top or Double Bottom?
A Tweezer is a 2-candle pattern where the matching extreme forms on consecutive bars — the two rejection levels are directly adjacent. A Double Top or Double Bottom spans many bars with a pullback between the two peaks or troughs. Tweezer patterns are faster, shorter-term signals, while Double Tops/Bottoms are broader structural reversals. Both are reversal signals, but they operate at different time scales and require different setups.
Q: The entry is a pending order — when does it trigger?
The indicator places a Buy Stop (Tweezer Bottom) slightly above the pattern high, or a Sell Stop (Tweezer Top) slightly below the pattern low. The entry triggers when price moves in the expected direction and hits the stop level. This ensures you enter only when price confirms the breakout direction, not just because the pattern appeared.
What's New — Version v1.00
This is the v1.00 release of Tweezer Trading System. Key features include:
- Automatic Tweezer Top and Tweezer Bottom detection on all timeframes
- 6-factor weighted quality scoring from 0-100%
- ATR-scaled tolerance for matching high/low detection
- Pending entry mode with Buy Stop / Sell Stop orders
- Pattern-based stop loss at matching extremes with ATR buffer
- Multi-timeframe scanner covering 150 symbols across 8 timeframes
- 7-layer signal filtering: Quality, Extreme Zone, Direction, SL Hunt, Signal Zone, Spacing, Opposite
- 4-channel alert system for Entry, TP, and SL events
- EA signal buffers for algorithmic trading integration
Getting Help
If you have questions or need support:
- Documentation: Check the detailed user guides linked in the Features section above
- MQL5 Profile: https://www.mql5.com/en/users/khiemni/seller
- Direct Contact: Message me through MQL5 for technical support
I'm committed to helping you get the most out of this indicator.
Ready to Start?
Tweezer Trading System is designed to save you time and help you find high-probability Tweezer patterns automatically. Attach the indicator to your chart and start with the default settings — you can fine-tune everything later as you get comfortable with how it works.
Happy trading!
Ich Khiem Nguyen
Tweezer Trading System v1.00 — Created 2026-02-22
