Candlestick Pattern Analyzer MT4
- Indicators
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Mattia Impicciatore
Hello,
I’m Mattia — a fintech developer, trader, and expert in MQL5, Python, and web technologies. - Version: 1.0
- Activations: 5
Candlestick Pattern Analyzer for MT4
Description
Candlestick Pattern Analyzer is an advanced tool for both discretionary and systematic traders, built to automatically detect major Japanese candlestick patterns and deliver a detailed statistical breakdown of their historical performance.
This indicator is perfect for those who want to objectively verify the real-world effectiveness of patterns and combine them with confirmation filters (e.g., trend, key levels, volume) and a well-defined risk management approach.
Key Features
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Automatic detection of over 20 candlestick patterns (bullish and bearish) with visual highlighting on the chart
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Calculation of average and total profit following each pattern over a configurable number of subsequent bars
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Total count of detected occurrences for an objective view of pattern frequency
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On-chart visual cues via colored boxes and text labels
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Real-time alerts and push notifications when new patterns are identified
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Fully customizable interface: enable/disable specific patterns, choose colors, set analysis period, and position data elements
Available Patterns (if enabled)
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Bullish Engulfing
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Bearish Engulfing
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Green Marubozu
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Red Marubozu
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Green Doji
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Red Doji
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Green Spinning Top
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Red Spinning Top
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Short Green
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Short Red
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Long Green
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Long Red
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Pin Bar
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Hammer
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Inverted Hammer
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Shooting Star
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Hanging Man
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Three White Soldiers
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Three Black Crows
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Morning Star
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Evening Star
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Bull Harami
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Bear Harami
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NR4 Inside
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NR7 Inside
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Bull Three Line Strike
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Bear Three Line Strike
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Tweezer Top
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Tweezer Bottom
Why It’s Useful
Many traders rely on candlestick patterns subjectively. This tool provides a quantitative and visual framework, helping you understand which patterns actually offer a statistical edge on your chosen instrument and timeframe.
Use Cases
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Study patterns with a proven statistical edge
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Build strategies grounded in objective data
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Receive real-time visual signals and operational alerts
Important Note
This is not an automated trading system but a decision-support tool. To achieve reliable results:
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Use confirmation filters such as trend, support/resistance, volume, or other indicators
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Always apply proper money management
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Aim for a minimum risk/reward ratio of 1:2 or 1:3
Compatibility
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MetaTrader 4 (desktop)
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Works on all timeframes and instruments: forex, stocks, indices, commodities, cryptocurrencies
Conclusion
If you’re a trader who prefers a methodical approach to pattern analysis, Candlestick Pattern Analyzer for MT4 gives you the tools to identify which candlestick setups truly work. A powerful, practical, and configurable solution to elevate your trading.
MT5 version available here: https://www.mql5.com/en/market/product/145419
Keywords:
Candlestick Pattern Detector, Advanced Candlestick Scanner, Japanese Candlestick Patterns, Pattern Recognition, NR4, NR7, Narrow Range Pattern, Engulfing Pattern, Bullish Engulfing, Bearish Engulfing, Doji, Harami, Bullish Harami, Bearish Harami, Piercing Pattern, Dark Cloud Cover, Morning Star, Evening Star, Three Inside Up, Three Inside Down, Three Outside Up, Three Outside Down, Three Black Crows, Three White Soldiers, Tweezers Top, Tweezers Bottom, Tweezer Reversal, Inside Bar, Outside Bar, Bullish Reversal, Bearish Reversal, Reversal Pattern, Continuation Pattern, Trend Continuation, Price Action Strategy, Technical Analysis, Price Action Trading, Support and Resistance, Market Structure, Pattern Statistics, Statistical Pattern Analysis, Win Rate Calculation, Pattern Success Rate, Profit After X Bars, Average Return, Backtest Candlestick Strategy, Historical Performance, MT5, MT4, Multi-Timeframe Pattern Detection, Alerts on Pattern, Push Notifications, Real-Time Detection, Live Signals, Smart Entry Signals, Discretionary Trading, Visual Pattern Marking, Chart Pattern Overlay, Pattern Labels, Trading Strategy Optimization, Entry and Exit Zones, Risk Management, Swing Trading Patterns, Day Trading Patterns, Pattern-Based Trading, Trend Analysis, Candle Pattern Scanner, Candlestick Alerts, Trading Edge, Signal Confirmation Tool, Manual Trading Support, Professional Pattern Tool, Multi-Candle Pattern Detection, Hammer, Shooting star, Hanging man, Inverted Hammer, Spinning Top, Marubozu,
Candlestick Pattern Analysis, Double Bottom, Double Top
