New article Studying candlestick analysis techniques (part III): Library for pattern operations has been published:
The purpose of this article is to create a custom tool, which would enable users to receive and use the entire array of information about patterns discussed earlier. We will create a library of pattern related functions which you will be able to use in your own indicators, trading panels, Expert Advisors, etc.
Before proceeding to the creation of the library structure, classes
and connections, let us define the data which we will use. That is, we
need to separate the methods responsible for the input data and the
methods which will provide the results. The general library structure
will be based on the visual solution developed in the previous articles —
the Pattern Analyzer.
Let us start with the application input data which can influence the result when testing the patterns.
Fig.1 Input parameters in the Setting tab.
Block 1. This block features the list
of candlestick types which the existing and generated patterns consist
of. Each of the types has its settings, which you can view by clicking
on the gear icon in the upper right corner of the candlestick
visualization page. Candlestick types 1-5 have only one setting, while
Hammer has two of them.
Block 2. Weight coefficients. There are three parameters К1, К2, К3 which affect the pattern efficiency evaluation result.
Block 3. Threshold trend value in points.
Block 4. Candlesticks used when
testing generated patterns. Here we will need sequence numbers or
candlestick indexes. Using this data we will be able to obtain
information about any pattern of any size, up to three candlesticks.
Block 5. Number of candlesticks in the pattern. This setting is only applicable for custom patterns.
Author: Alexander Fedosov
Great work, Alexander..
I am a newbie in mql5 programming. I've tried to compile the PatternAnalyzer.mq5 but it ended up with 2 error found on 'method' which took place in Menultem.mqh.
First error on 'method' was "undeclared identifier", and the second was "some operator expected".
Could you help me please..
I do appreciate your work. Thank you..
Hi Alexander! I am grateful for your voluntary work. Please on install the MQL5 file I noticed there are other files in the
folder like include, image expert and indicator. My question is should we just copy MQL5 folder to the root directory
or should we copy out expert to expert and indicator to indicator etc..
is this transferrable to mq4? Will the libraries work the same in mq4/mt4?
I love the article too. Thanks for your contribution!