Discussing the article: "From Novice to Expert: Auto-Geometric Analysis System"
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Check out the new article: From Novice to Expert: Auto-Geometric Analysis System.
Geometric patterns offer traders a concise way to interpret price action. Many analysts draw trend lines, rectangles, and other shapes by hand, and then base trading decisions on the formations they see. In this article, we explore an automated alternative: harnessing MQL5 to detect and analyze the most popular geometric patterns. We’ll break down the methodology, discuss implementation details, and highlight how automated pattern recognition can sharpen a trader's market insights.
Today’s discussion aims to address the challenge of analyzing candlestick patterns using geometric approaches. In our recent article, From Novice to Expert: Programming Candlesticks, we focused on identifying simple candlestick patterns, which are typically composed of just a few candles. However, when working with larger sequences of candlesticks, pattern recognition becomes more complex, as consistency tends to diminish over long series.
One clear insight, though, is that we can still identify major highs and lows within the data. Connecting these points can help us gauge trends more effectively.
When we first learned about forex trading, many educational resources introduced the idea of triangle formations and other geometric patterns in market price action. And indeed, geometry is present in the markets—it can offer a simplified and visual summary of what the market is doing.
Most traders are accustomed to identifying these shapes manually by drawing trend lines or placing geometric objects on charts. Today, we aim to take this a step further by leveraging MQL5 to automate this process, removing the need for manual intervention and enabling faster and more consistent analysis.
Author: Clemence Benjamin