Indicators: FivePattern

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FivePattern:

This indicator shows М & W Wave Patterns by Merrill and support/resistance levels on a chart.

The indicator is recalculated on each new history bar (to save CPU time when rendering objects). The names of all objects are pseudo-random.

The indicator calculates the predicted price movements based on the expectations of a private (serial) evolution/mutation of waves. the indicator includes a counter of pattern model efficiency.

FivePattern

Author: Andrey Emelyanov

FivePattern
FivePattern
  • www.mql5.com
This technical indicator shows М & W Wave Patterns by Merrill and support/resistance levels drawn at extreme points of the standard ZigZag indicator. A. Merrill classified five-pointed shapes based on the order of the points from top to bottom, and created an orderly classification model M & W Waves. Here they are: The dynamic pattern by A...
 

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

newdigital, 2013.01.31 16:30

Why false breakout? Look at the image (this is Merrill's patterns for downtrend):

 

and look at GBPUSD M1 chart for now:

 

So, the pattern on GBPUSD chart is same as M3 Merrill, right? And the evolution of this M3 pattern was on the following way: M8 - M4 - M3. That is why it was false breakout.

 


 
newdigital:

Yes, it is from these graphs created indicator
 

One of the best indicator that i have seen.

1) unfortunately the indicator input settings are in Russian language.

2) I can't change the size of circle arrow.

 
Firefoxin:

Один из лучших индикатор, который я видел.

1) к сожалению настройки ввода индикатор в русском языке.

2) Я не могу изменить размер окружности стрелки.

Currently, the Arrow size is not changed. I will consider your wish in the next version of the code. The third version of the code is planning to put on 14-15 July 2014.
 

im even to stupid to install it 

 

10yr mt4 user

 

so whats up 

 
ctzulu:

im even to stupid to install it 

 

10yr mt4 user

 

so whats up 

1) The simple way is to download it as ZIP and unpack to: terminal_data_folder\MQL5\.

2) Also you can download it in Code Base tab in the client terminal (all included files will be downloaded automatically in the appropriate folders):

3) The 3rd way is to download all files manually in the specified folders:


 

Thank you for this indicator it looks quite fascinating. 

 

Could someone please explain the comment that was in the description:

"As for the core of the extreme search algorithm - Zigzag, this algorithm is a "temporary (quick) decision" and certainly requires replacement. Since most of the errors are associated with pattern detection NOPATTERN (see in enum NamePattern in the MyCPattern.mqh file) - this is an error of the search engine."

 

Is the developer saying the indicators internal search algorithm to identify the patterns is the weak link of the system?

Is anybody having success with this indicator?

How do we determine the optimal settings? 

 

Many thanks.  

 
Innate :

Спасибо за этим показателем она выглядит весьма захватывающим.

Может кто-то объяснить комментарий, который был в описании:

"Что касается ядра крайней алгоритма поиска - зигзага, этот алгоритм является" временным (быстрый) решение "и, конечно, требуется замена Поскольку большинство ошибок связаны с NOPATTERN обнаружения образец (см в перечисления NamePattern в MyCPattern.mqh. файл) - это ошибка поисковой системы ".

Является разработчиком говоря алгоритм показатели внутреннего поиска, чтобы выявить закономерности является слабым звеном системы?

Кто имея ли успех с этим показателем?

Как определить оптимальные настройки?

Большое спасибо.

Expensive time of day! Thanks for rating indicator.

The fact that the classical Zigzag uses a fixed price in paragraphs threshold when searching extreme. For this reason, the commercial counselor, who uses in calculations such Zigzag prone to over-optimization. This is due the fact that the real market volatility of the market is always changing. by using, instead of the threshold values ​​- the percentage, the situation changes.

For the organization of trade with this indicator recommend the following:

1). Use only ORDER_STOP_LIMIT

2). For buy-order use patterns: M1, M3, M5, M7, M9, M12, M14;

3). For sell-order use patterns: W3, W5, W8, W10, W12, W14, W16;

4). price for buy / sell = point E;

5). take profit = point Mutation;

6). stop loss = point Evolution, if (point Evolution == 0) use fixed stop loss 

Other recommendations by the indicator will be in my article, which I am now preparing ...

 

is there a mt4 version for this?

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