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

Trend Breakout Patterns Scanner

This price action indicator automates the detection of trend reversal and breakout chart patterns. It generates trade signal with analytical entry, stop loss (SL) and take profit levels (TP1 and TP2).

The chart pattern recognition and quantitative analysis are based on a proprietary algorithm that looks at the interaction of supply and demand over time. It is suitable for professional and novice traders because it eliminates the time, energy and skill needed for price action analysis.


Features

  • Multi-timeframe (simultaneously scans and displays patterns of all selected timeframes from only one opened chart for every symbol or instruments)
  • Backtest directly on the chart (for the selected timeframe on the Strategy Tester)
  • Can analyse any financial market (currencies, cryptocurrencies, stocks, indices, commodities, bonds etc) instruments.
  • Notifies through pop-up, push and email when signal is detected and the stop loss and profit levels are reached. You can receive push and email notification of signals from your MetaTrader 4 on a Virtual Private Server(VPS).
  • Analyses and display the strength of detected patterns.
  • Can be set to only detect 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 provides clean, simple and colour-coded display (to show whether a pattern is bullish or bearish) that can also be automatically screenshot and saved to your PC.


Input Parameters

SEARCH

  • Search for only Patterns with the minimum Strength %
  • Search for only Patterns that fits the Trading Style
    • Very Aggressive (tight stop loss + wide take profit)
    • Aggressive (wide stop loss + wide take profit)
    • Conservative (tight stop loss + tight take profit)
    • Very Conservative (wide stop loss + tight take profit)
  • Search for only Patterns with high TP to SL pips - detects only patterns with the minimum TP to SL pips according to the selected Trading Style: Very Aggressive: 2.0, Aggressive: 1.5, Conservative: 1.0, Very Conservative: 0.5
  • 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
  • Enable Optimal Speed Scanning - monitors the available system resources to determine the maximum number of history bars that can be scanned in order to reduce the strain on your PC and therefore avoid slow performance of the MetaTrader 4. If disabled, a minimum of 120 bars will always be scanned. Avoid using the indicator on multiple charts of the same symbol or instrument because it is a drain on your PC's resources.
  • Scan M1
  • Scan M5
  • Scan M15
  • Scan M30
  • Scan H1
  • Scan H4
  • Scan D1
  • Scan W1
  • Scan MN

DISPLAY

  • Show Stop Loss Level
  • Show Take Profit Level
  • Show Second Take Profit Level (if "Show Take Profit Level"=true)
  • 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 to ensure that "Enable Push Notification" is checked and fill in 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
  • Take Screenshot - screenshots will be saved to: MQL4/tester >Files > TR Breakout Patterns Scanner (in the terminal menu select to view: File -> Open Data Folder).
Mohamed Ali
966
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
166
ibrahim45 2017.01.31 12:13   

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

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.