Visual ATR Candlestick Scanner Pro
- Indicators
- Ich Khiem Nguyen
- Version: 2.5
- Updated: 19 October 2025
- Activations: 5
VISUAL ATR CANDLESTICK SCANNER PRO - Enhanced Pattern Recognition
The Visual ATR Candlestick Scanner Pro is an indicator designed to automatically identify and filter common candlestick patterns, providing a clearer view of potential market reversals or continuations.
I. Key Features & Functionality 1. Automated Candlestick Pattern Recognition The indicator automatically recognizes over 25 professional candlestick patterns, classified into clear groups:
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Strong Bullish Group: Bullish Engulfing, Three White Soldiers, Morning Star, Bullish Kicker, etc.
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Strong Bearish Group: Bearish Engulfing, Three Black Crows, Evening Star, Bearish Kicker, etc.
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Reversal & Continuation Groups: Hammer, Shooting Star, Doji, Harami, and other scientifically classified patterns.
2. Intuitive Visual Display The indicator uses visual aids for instant recognition:
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Automatic Candle Coloring:
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Green: Indicates a strong bullish pattern.
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Red: Indicates a strong bearish pattern.
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Blue: Indicates a neutral signal.
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Pattern Name Display: The name of the recognized pattern is displayed directly on the chart, aiding in rapid learning and identification.
3. Smart ATR Volatility Filter This proprietary filter helps users focus on patterns that appear during periods of significant market movement:
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Purpose: The filter helps to screen out patterns formed during very low volatility or market noise.
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Function: Only displays patterns where the amplitude is greater than a customizable ATR threshold.
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Customization:
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ATR Period: Default is 14 (adjustable).
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ATR Multiplier: Default is 0.3 (adjustable to set sensitivity).
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4. Alert System The integrated alert system ensures users are notified of new pattern formations:
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Instant Notification: Receive an alert when a pattern appears.
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Alert Format: [SYMBOL] [TIMEFRAME] [PATTERN NAME] (e.g., [EURUSD] [H1] [Bullish Engulfing] ).
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24/7 Monitoring: Works even when the user is not actively watching the terminal.
II. Benefits for Users
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Increased Efficiency: Reduces the time spent manually scanning charts for pattern formation.
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Consistency in Analysis: Provides an objective, standardized recognition of patterns, eliminating manual misidentification.
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Learning Aid: The direct display of pattern names serves as a continuous learning tool for traders new to candlestick analysis.
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Flexible Strategy Adaptation: Allows users to enable or disable specific pattern groups and adjust the ATR filter to suit their individual trading style and risk preference.
III. Recommended Settings and Use Recommended Settings for New Users:
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ATR Period: 14
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ATR Multiplier: 0.3 (This setting is designed to show patterns with clear volatility.)
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Show Labels: On (for learning pattern names)
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Send Alerts: On (to capture timely opportunities)
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Strong Patterns: Enable all (to focus on the most commonly recognized signals)
Simple Usage Guide:
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Install the indicator into your MetaTrader platform.
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Drag and drop the indicator onto the desired chart.
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Customize the pattern groups and the ATR filter settings.
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Observe the colored candles and pattern labels, and use the alerts to inform your trading decisions.
Note on Trading Results: The Market Administration provides only a formal test of the Product, checking its conformity with the functionality stated by the Seller. The use of this indicator, or any trading tool, does not guarantee profit, and trading in financial markets involves risk. Users should always exercise their own judgment and apply proper risk management.
