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Candle Pattern Finder MT5

4.33

This indicator searches for candlestick patterns. Its operation principle is based on Candlestick Charting Explained: Timeless Techniques for Trading Stocks and Futures by Gregory L. Morris.

If a pattern is detected, the indicator displays a message at a bar closure.

If you trade using the MetaTrader 4 terminal, then you can download the full analogue of the "Candle Pattern Finder for MT4" indicator

It recognizes the following patterns: Bullish/Bearish (possible settings in brackets):

  1. Hammer / Shooting Star (with or without confirmation*)
  2. Inverted Hammer / Hanging Man(with or without confirmation*)
  3. OutSide Bar
  4. Engulfing (high or low sensibility**)
  5. Piercing Line / Dark Cloud Cover (high or low sensibility**)
  6. Three White Soldiers / Identical Three Crows (high or low sensibility**)
  7. Morning Star / Evening Star
  8. Rising Three Methods / Falling Three Methods
  9. Marubozu (including Closing/Opening Marubozu)
  10. Meeting Lines
  11. Harami, including Harami Cross
  12. Doji, including Evening/Morning Doji Star
  13. Thrusting Line

* - "Without confirmation" - a signal occurs straight at the closure of the bar that forms the candlestick pattern. "With confirmation" - the indicator waits for the next (confirming) bar closure.

** - "Low sensibility" - the pattern is recognized in strict conformity with the description from the book by Gregory L. Morris. "High sensibility" - uses additional criteria that take into account a variety of pattern options in the Forex market, which are not used on the stock market. This has increased the number of correct signals without increasing the number of false ones.


Features:

  1. The indicator implements virtually all candlestick patterns available for Forex from the book by G. Morris.
  2. The indicator is not tied to the size and shape of candlesticks, since it uses the intellectual recognition technique, which is similar to human perception - patterns are recognized so as a human eye would visually recognize them.
  3. You can choose to recognize separate candlestick patterns. Flexible settings for each pattern.
  4. Three languages are supported: English, Russian and Portuguese (the Language parameter). You can also add names of the candlestick patterns in your mother tongue (send me a private message).
  5. Sound and text notifications of pattern formation. Emails and push notifications to mobile devices (parameters ON/OFF-Mail and ON/OFF-Push).

If you want to scan candlestick patterns for all instruments and timeframes at once, then pay attention to the "Candle Pattern Dashboard for MT5" indicator


Parameters:

Parameters of candlestick patterns

  • Parameters of Hammer and Shooting Star (Disable / Single bar (without confirmation) / Bar with confirmation)
  • Parameters of Inverted Hammer and Hanging Man (Disable / Single bar (without confirmation) / Bar with confirmation)
  • Enable OutSide Bar pattern (Disable / Enable)
  • Parameters of Engulfing pattern (Disable / High sensitivity / Low sensitivity)
  • Parameters of Cloud pattern (Dark/Piercing Cloud) (Disable / High sensitivity / Low sensitivity)
  • Parameters of Three White Soldiers/Identical Crows (Disable / High sensitivity / Low sensitivity)
  • Enable Morning Star and Evening Star (Disable / Enable)
  • Enable Rising/Falling Three Methods (Disable / Enable)
  • Enable Marubozu (including Closing/Opening Marubozu) (Disable / Enable)
  • Enable Meeting Lines pattern (Disable / Enable)
  • Enable Harami pattern (Disable / Harami shadows can walk out of shadows of a prev.candle / Harami shadows can not go beyond the shadow of the prev.candle)
  • Doji patterns (Disable / Single Doji candle (without confirmation) / Doji candle with confirmation (is Morning/Evening Doji Star)
  • Thrusting Line

Alerts, E-mail, Push-messages
Color Settings

Other Settings

  • Show Pattern Description
  • Write signals to a log-file - enable writing signals to a file
  • Name of the log-file

You can test the functionality of the program by downloading the test version from the Comments tab


    Reviews 6
    paulzzzz
    36
    paulzzzz 2020.12.02 14:58 
     

    EXTRAORDINARY!!!!!!

    andytimtran
    237
    andytimtran 2020.07.27 06:32 
     

    5 stars from me. Thank you!

    Marcus3
    39
    Marcus3 2019.11.05 03:08 
     

    This indicator is VERY good. I mean it. 65% win rate with 15k signals analyzed in a time span of roughly 30 years. Yes, it's this good. There are other much more expensive indicators out there (~200 USD,~300 USD) with an inferior win rate of 60%. Just buy this. Lol.

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    PZ TRADING SLU
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    Pavel Zamoshnikov
    4.43 (7)
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    Information Panel
    Pavel Zamoshnikov
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    Filter:
    paulzzzz
    36
    paulzzzz 2020.12.02 14:58 
     

    EXTRAORDINARY!!!!!!

    andytimtran
    237
    andytimtran 2020.07.27 06:32 
     

    5 stars from me. Thank you!

    MATTEW
    221
    MATTEW 2020.06.11 17:08 
     

    i am loos money any good day trading idea i will chage my review

    Marcus3
    39
    Marcus3 2019.11.05 03:08 
     

    This indicator is VERY good. I mean it. 65% win rate with 15k signals analyzed in a time span of roughly 30 years. Yes, it's this good. There are other much more expensive indicators out there (~200 USD,~300 USD) with an inferior win rate of 60%. Just buy this. Lol.

    Aleksandrs Bogdanovs
    162
    Aleksandrs Bogdanovs 2018.11.12 18:22 
     

    все супер, помогает когда глаза замусоленные :)

    YerVic
    32
    YerVic 2017.05.13 14:57 
     

    Здравствуйте, большое спасибо за такой нужный и удобный индикатор. Только я не понял, как передать ему мой e-mail или номер телефона, чтобы получать сообщения на почту или в виде сообщений на телефон.

    Reply to review
    Version 4.7 2020.12.29
    Added the Marubozu pattern (including Closing Marubozu and Opening Marubozu)
    Version 4.6 2020.12.11
    Search for the "Outside Bar" pattern now has a filter that you can select in the "Parameters of Outside Bar" parameter:
    1. Reversal Outside Bars only - a signal only if the direction of the "Outside Bar" candle is opposite to the direction of the previous candle
    2. All Outside Bars - signals on all "Outside Bar" candles
    Version 4.5 2020.12.04
    - Added "Outside Bar" pattern.
    - Improved trend detection algorithm.
    Version 4.4 2020.12.01
    Added Doji patterns, incl. "Evening/Morning Doji Star" and "Thrusting line" pattern.
    In the Harami model, you can now change the sensitivity to the signal (the shadows of the Harami candlestick can protrude beyond the shadows of the previous candles)
    Version 4.2 2020.09.22
    Added the ability to search for patterns in one direction only.
    This is relevant for trading exchange instruments.
    Use the "Patterns direction" parameter ("UP only" / "DOWN only" / "UP and DOWN")
    Version 4.1 2020.08.31
    Added support for Portuguese language
    Version 4.0 2019.04.04
    Added Russian language
    Version 3.0 2018.09.09
    Added the option of recording a signal and a signal bar into a csv file for later analysis

    File format:
    Date | Time | Direction | Pattern | Open | High | Low | Close | Volume | Tick ​​Volume
    where:
    Date | Time - date and time of the signal bar
    Direction - is the direction of the signal (Up/Down)
    Pattern - is the name of the pattern
    Open | High | Low | Close | Volume | Tick ​​Volume - parameters of the signal bar

    The file is written to the <Data folder>\MQL5\Files folder (or to the <test agent>\MQL5\Files folder, during testing)
    The signal parameters are recorded in real time. Historical signals are not recorded.
    To analyze historical signals, run the indicator in the tester.
    Version 2.0 2018.02.12
    Fixed the 'out of range' error, which sometimes occurred on small timeframes
    Version 1.21 2017.03.29
    Updated to the new terminal build
    Version 1.2 2016.04.11
    1. Added the "Description Font Size" parameter, which adjusts the font size of the pattern description

    2. Now the indicator is able to pass the EA not only the information on the candlestick pattern appearance, but also the type of the pattern using the global variables of the terminal.