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Five Candles Pattern MT5

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Demo downloaded: 103

Published: 16 September 2015

Current version: 1.6

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Five Candles Pattern MT5

Indicators
Miguel Antonio Rojas Martinez
Miguel Antonio Rojas Martinez
Programador at Mi Casa

Colombia

4133
Mql language programmer.
I have automated various strategies to different customers in order to make operations easier when the Forex market operates
Version: 1.6
Updated: 17 November 2021
Activations: 15

The "Five Candle Pattern" indicator is a novel way to see the market, because with it we can compare and/or seek training or the pattern of the past 4 or 5 Candles, and identify them in the same graph, to view your behavior at an earlier time.

The indicator creates a pattern of those 4 or 5 candles and searches backward, identifies, and marks the same formation or pattern.

With that information you adjust the strategy that is operating, or create a new one, because you can compare the past development of the current pattern and on that basis it easier to identify the trend.

It is an easy and immediate way to look as the graph behaved when the information was quite similar to the formation or candlestick pattern that is developing at the moment.

Although the name emphasizes a pattern of 5 candles, the indicator can be used also by a pattern of 4 candles, just as is customizable color pattern base, the color of the pattern matches, and the number of candles to review in search of the Pattern or formation.

It is a potential tool that will refine the strategy and which will be completely useful for traders. The indicator is accompanied by an information table which shows all the information and results of the indicator.

Indicator parameters

Candles_to_Compare: is the number of candles we want to review, and in which we will look for matches with the base pattern
Candles_base: select between 2 options, search for a pattern of 4 candles or a pattern of 5 candles.

more...

Video Five Candles Pattern MT5

Screenshot #1 Five Candles Pattern MT5

Screenshot #2 Five Candles Pattern MT5

Screenshot #3 Five Candles Pattern MT5

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Visualize your charts differently in MetaTrader 5. The product is good for comparing the prices, since the indicator draws High, Close, HLC, etc. It is useful when applied with other indicators (like MACD). This simple indicator colors the entire space below the chart allowing you to see the market with greater clarity. You will see the actual price, trends, and the market behavior. ‌Indicator parameters: Applied_Price : From this option you can select the type of price you want to draw with th

The "Five Candle Pattern" indicator is a novel way to see the market, because with it we can compare and/or seek training or the pattern of the past 4 or 5 Candles, and identify them in the same graph, to view your behavior at an earlier time. The indicator creates a pattern of those 4 or 5 candles and searches backward, identifies, and marks the same formation or pattern. With that information you adjust the strategy that is operating, or create a new one, because you can compare the past devel

This indicator works only 5 digits Brokers. It is impossible to talk about the study of the Forex market or any market without considering of that market statistics. In this case, our indicator "price statistics" we have a new way to study our chart, giving information of the price in a range of pips you want to study for example, can we know how many times the price closes or opens into spaces 10, 20, 30, 50, 100 pips or more; and know them not only in numbers but also draws this relationship a

The "Price Break" indicator is a powerful tool for any trader. If the price breaks the levels the indicator shows, there is a 77% chance it will go in the same direction. If it exceeds the blue line, there are many possibilities for the price to rise. On the contrary, if it passes down the red line, it means that there are many possibilities for the price to drop. We should always consider the latest indicator signal, so we should rely only on the last blue arrow and the last red arrow. The indi

The "Candle Pips" indicator is a tool that helps us a quick way to see the size of the candles on our platform; this is not only of great help to any trader who wants to study the market thoroughly, it is helpful in various strategies that are based on size of the candles. The indicator shows the value in Pips of each candle to our current graph, rounded to an integer. The indicator also shows the information as a histogram, at the bottom of the graph. It has simple inputs: Candle Type: this ent

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This tool allows you to better analyze your chart. With "Crosshair Percent", you can calculate distances in the chart in a percentage way (in a very simple way, when the pointer is attached in the form of a crosshair: CRTL + F). The utility allows to measure and/or calculate the movements of the price NOT only in points, use a measure in professional terms as it is the percentage. The result is shown in two parts of the screen, one of them, next to the position of the pointer and the other in a

Visualize your charts differently in MetaTrader 5. The product is good for comparing the prices, since the indicator draws High, Close, HLC, etc. It is useful when applied with other indicators (like MACD). This simple indicator colors the entire space below the chart allowing you to see the market with greater clarity. You will see the actual price, trends, and the market behavior. Indicator parameters Applied_Price : From this option you can select the type of price you want to draw with the

This indicator works only 5 digits Brokers. It is impossible to talk about the study of the Forex market or any market without considering of that market statistics. In this case, our indicator "price statistics" we have a new way to study our chart, giving information of the price in a range of pips you want to study for example, can we know how many times the price closes or opens into spaces 10, 20, 30, 50, 100 pips or more; and know them not only in numbers but also draws this relationship a

The "Price Break" indicator is a powerful tool for any trader. If the price breaks the levels the indicator shows, there is aproximatelly a 77% chance it will go in the same direction. If it exceeds the blue line, there are many possibilities for the price to rise. On the contrary, if it passes down the red line, it means that there are many possibilities for the price to drop. We should always consider the latest indicator signal, so we should rely only on the last blue arrow and the last red a

This tool allows you to better analyze your chart. With "Crosshair Percent", you can calculate distances in the chart in a percentage way (in a very simple way, when the pointer is attached in the form of a crosshair: CRTL + F). The utility allows to measure and/or calculate the movements of the price NOT only in points, use a measure in professional terms as it is the percentage. The result is shown in two parts of the screen, one of them, next to the position of the pointer and the other in a

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