• Overview
  • Reviews (2)
  • Comments (16)
  • What's new

Trend Breakout Patterns Scanner

This price action indicator automates the detection of trend reversal breakout patterns; formed when price breaks above or below the key (support or resistance) level that marked the beginning of the opposite move. It generates trade signal with analytical entry, stop loss (SL) and take profit levels (TP1, TP2 and TP3).

The chart pattern recognition is based on a pure price action proprietary algorithm that analyses raw market data.


Features

  • Notifies through sound alert, push notification and email when signal is detected and the stop loss and profit levels are reached.
  • It can be applied to any financial market (currencies, cryptocurrencies, stocks, indices, commodities and bonds) instruments and time frames. 
  • It can be set to only detect high probability chart patterns and also can be used to generate high take profit to stop loss pips trade signals.
  • Does not repaint. Trade signal is not deleted after entry breakout, so that real-time monitoring/trading can be effective.
  • It is suitable for professional and novice traders because it eliminates the time, energy and skill needed for price action trade signal analysis.
  • Backtest directly on the chart (for the selected timeframe on the Strategy Tester).
  • Screenshots can be automatically taken and saved to your PC.
  • It provides clean and simple chart pattern display that can easily be monitored/traded profitably.


Input Parameters


SEARCH

  • Search for only Patterns with the minimum Quality % (0-100)
  • Search for only Patterns with the minimum Strength % (0-100)
  • Detect Patterns only after its Breakout
  • Search for only Signal that does not Span over Weekend - Applies to only M1, M5, M15, M30 and H1 timeframes, to avoid scanning the weekend market data because of the accuracy that may be needed on these timeframes
  • Minimum Number of Bars to Scan - the minimum number of history bars that will always be scanned. Note that the higher the value, the more the available system resources that will be consumed; too high value may affect the performance of MetaTrader 4
  • Search for Bullish Patterns 
  • Search for Bearish Patterns
  • Scan M1
  • Scan M5
  • Scan M15
  • Scan M30
  • Scan H1
  • Scan H4
  • Scan D1
  • Scan W1
  • Scan MN
  • Enable Scanning of other Timeframe(s) after New Detection

DISPLAY

  • Show Level Description

NOTIFICATION

  • Add Notification Tag (maximum of 15 characters) - add customized tag to notifications
  • Enable Pop-up Notification
  • Enable Push Notification to Mobile Device - go to Tools → Options → Notifications, ensure that "Enable Push Notification" is checked and fill out the MetaQuotes ID(MQID) of the mobile MetaTrader 4 terminal (available in the section Settings → Messages) installed on your mobile device iPhone or Android to receive signal notifications directly on your device
  • Enable Email Notification - go to Tools → Options → Email, ensure that "Enable" is checked and fill out all the required fields for your E-Mail provider
  • Always Show the Chart of a Notification
  • Take Screenshot - screenshots will be saved to: MQL4/tester → Files → Trend Breakout Patterns Scanner (in the terminal menu select to view: File → Open Data Folder)


Mohamed Ali
1029
Mohamed Ali 2017.05.24 04:12 
 

Been using this indicator for just few days. But so far signals are very accurate and R:R is very good also. I'll see how it goes for the time I have it rented.

ibrahim45
191
ibrahim45 2017.01.31 12:13   

A WASTE OF MONEY IT DOES NOT WORK I DEMAND A REFUND.

Version 4.5 2019.10.30
- Added Take Profit 3 (TP3)
- Added 'Pattern Quality' signal filter option
- Improvement to the algorithm of 'Pattern Strength' signal filter
- Bug fixes and general improvement
Version 4.4 2019.02.17
- Bug fixes and general improvement.
- Modification to the Pattern strength.
Version 4.3 2018.12.16
- Pattern strength algorithm improvement.
- Bug fixes and general improvement.
Version 4.2 2018.12.04
- Bug fixes and general improvement.
Version 4.1 2018.09.19
- Bug fixes and general improvement.
Version 4.0 2018.09.14
- ‎Improved take profit and stop loss algorithm for range patterns.
- Bug fixes and general improvement.
Version 3.9 2018.08.26
- Option to detect formed pattern before its breakout added.
- Added the option to determine the minimum number of history bars to always scan.
- Improved algorithm in the calculation of strength of detected pattern
- Bug fixes and general improvement.
Version 3.8 2018.06.26
- Pattern strength algorithm improvement.
- Bug fixes and general improvement.
Version 3.7 2018.05.23
- Bug fixes.
- Display improvement.
- Pattern strength algorithm improvement.
Version 3.6 2018.05.14
- Pattern strength algorithm improvement.
- Bug fixes and general improvement.
Version 3.5 2018.05.04
- Pattern strength algorithm improvement.
- Bug fixes and general improvement.
Version 3.4 2018.04.26
- Pattern strength settings added.
- ‎Improved take profit and stop loss algorithm.
- Bug fixes and general improvement.
Version 3.3 2018.04.05
- Improved take profit algorithm.
- Bug fixes and general improvement.
Version 3.2 2018.03.23
- Multitimeframe feature added.
- Pattern strength settings added.
- ‎Improved take profit and stop loss algorithm.
- Bug fixes and general improvement.
Version 3.1 2017.12.27
- ‎Improved take profit and stop loss algorithm.
- Improved algorithms so that only high probability patterns are detected.
- Improved scanning speed.
- Bug fixes and general improvement.
Version 3.0 2017.09.19
- Bug relating to system resources usage and others fixed.

- Added input setting 'Enable System Resources Optimal Scan' to increase or decrease the bars scanned according to the available system resources.
Version 2.9 2017.08.31
- Improved pattern detection algorithm.

- Added input setting 'Search for only High Probability Breakout Patterns'.

- Trading styles(very aggressive, aggressive, conservative or very conservative) can now be selected for appropriate stop loss and take profit levels.

- Option to take screenshots for all notifications added. Screenshots will be saved to: MQL4/tester >Files > Trend Breakout Patterns Scanner (in the terminal menu select to view: 'File' -> 'Open Data Folder').

- 'Hide Pattern Illustration' setting changed to 'Show Pattern Illustration'.

- 'Show Level Description as List' setting changed to 'Show Level Description on the Level'.

- Basic bug fixes and improved overall performance.
Version 2.8 2017.05.19
- Basic bug fixes and improved overall performance.
- Email notification added.
- Improved take profit algorithm.
Version 2.7 2017.03.22
- Basic bug fixes and improvements.
Version 2.6 2017.03.17
- Basic bug fixes and improvements.
Version 2.5 2017.03.03
- Basic bug fixes and improvements.
- Added input setting 'Search for only Signal that does not Span over Weekend' with a default value of 'true'.
Version 2.4 2017.02.15
- Basic bug fixes and improvements.
Version 2.3 2017.02.06
- Comprehensive optimization done to speedup the indicator operation and make it less CPU (processor) intensive.
- Basic bug fixes and improvements.
- Improved take profit algorithm to increase signal profitability ratio.
- Added input setting 'Search for only High Quality Signal' with a default value of 'false'.
- Input setting 'Search for only Signal with Minimum TP to SL Pips Ratio of 1:1' default value changed to 'false'.
- "Hide Pattern Illustration" input settings changed to "Show Pattern Illustration" with a default value of "true".
Version 2.2 2017.01.12
- Basic bug fixes and improvements.
Version 2.1 2017.01.09
- Basic bug fixes and improvements.
Version 2.0 2016.12.27
- Improved overall performance.
- Improved take profit algorithm.
Version 1.9 2016.12.05
- Improved overall performance.
- Improved take profit algorithm.
Version 1.8 2016.11.23
- Improved algorithm and overall performance.
Version 1.7 2016.11.10
- Improved overall performance.
Version 1.6 2016.11.04
- Improved overall performance.
- Improved take profit algorithm.
- Added the option to display the pattern illustration.
Version 1.5 2016.10.13
- Basic bug fixes and improvements.
Version 1.4 2016.09.19
- Basic bug fixes.
Version 1.3 2016.09.12
- Improved overall performance.
- Take profit level algorithm modification.
Version 1.2 2016.08.31
- Basic bug fixes and improvements.
- Scanning speed and performance improvement.
- Pattern quality algorithm improvement.
- Option to add customized tag to notifications added.
Version 1.1 2016.08.04
- Basic bug fixes and improvements.
- Reward to Risk settings added.
- Pattern quality setting was modified.
- Improved take profit logic for better reward to risk ratio.