Price Canal and Candle Pattern Signal Alert MT5

A smart assistant for accurate and timely market entries. The indicator beeps and alerts when the price reaches the levels. You can set support and resistance levels manually or entrust it to the algorithm. At the moment when the price reaches the level, candle patterns are additionally marked. The unique candle patterns are a symbiosis of classic patterns and patterns of breakdown and rebound levels.

For highly profitable trading on the stock exchange, in most cases, placing orders is not enough and the trader needs to personally look at and analyze how the price behaves when approaching an important level. I think all traders have come across a situation where we set important goals at the beginning of the trading day, and then missed the moment when the price reached them. As a result, the moment of entry is missed, and we get additional negative emotions watching the price move in full accordance with our plan. But you are not there, and there is no profit.

Trade with pleasure and comfort! No more staring at the monitor for days on end. Identify the levels that are important to you and go about your business, other work, or just relax. When the price reaches the set level, you will receive a notification and will be able to start trading immediately. With this indicator, you will no longer miss the best moment to enter the market. Start using alert levels today and see how it simplifies the trading process and increases its efficiency.

Indicator Parameters

• Color_Up - the color of the upper line.
• Style_Up - top line style.
• Color_Dn - the color of the bottom line.
• Style_Dn - bottom line style.
• Send Email - sending email notifications.
• Alert - audio notification.
• Push Notification - notification to the mobile terminal.
• Sound file - select an audio file for notifications.
• Pause between alerts (seconds) - mandatory pause between notifications.
• Quantity_Arrow - the frequency of the arrows (patterns.)
• CalculateBarsArrow - the number of bars for displaying arrows (patterns) on the history.

You can automatically set levels by round levels. To do this, press: LShift + RShift + 2. Or LShift + RShift + 1 to set the levels at the high and low of the last 40 bars. We are currently working on expanding the functionality of automatic levels.

Watch in real time as bulls and bears fight near important levels.

The indicator shows how buyers (bulls) and sellers (bears) are fighting near important price levels. The arrows on the chart indicate the formation of candle patterns in real time. It helps to see how the balance of power changes before the price bar closes. Bottom line: The indicator turns a complex analysis into a visual picture. You see not only the levels, but also the "emotions" of the market — who is stronger now: buyers or sellers.

Is it possible to increase the accuracy of the signal arrows

Basically, the accuracy strongly depends on the significance of the level. But there is also a way to increase the accuracy of the signals. To do this, wait for the breakout of the maximum (for purchase transactions) of the bar where the signal was formed. This will make the entry a little late, but in this way many unprofitable trades will be filtered out. And in the end, this strategy more than pays for itself. For such a position entry strategy, it is convenient to use BuyStop or SellStop orders.

What kind of signals and alerts does the indicator create (send)?

The indicator sends an email message. An audible signal and a warning are sent to the terminal. Notification to the mobile terminal. All options can be turned on and off at your discretion. To send messages correctly by e-mail, you need to specify the necessary information in the terminal settings. The same applies to mobile terminal alerts.

At what point does the beep sound?

The first notification occurs when the price touches the level. The second notification occurs after the closing of the level bar. Each notification occurs no more than once per bar. In the settings, you can specify the minimum possible pause between notifications.

I don't like the beep. I want my own. How do I set it up?

In the settings, you can specify the name of any audio file from the corresponding folder of the trading terminal. You can add any of your sound files to the folder (MetaTrader 5/Sounds) of terminal sounds. Use audio files with the same extension.

Is it possible to add your own pattern to mark up price levels?

Just write to me and give me your idea in detail. Feedback and improvement of the indicator are a priority. Please try to explain your idea in as much detail as possible. Pictures and screenshots are welcome.

What are the plans for further development of the indicator?

In the future, we plan to add sloping trend lines. Automate the identification of the most powerful. But the main goal is the convenience of the indicator for the trader. Therefore, we plan to continuously improve the user experience with our indicator.

How do we see the working day with the indicator and how do we work ourselves

Imagine that you are the captain of a ship who does not stand at the helm 24/7, but trusts automation to monitor the course. This is what it looks like in trading. Morning training: "Reconnaissance of the area". You start the day not with endless scrolling of charts, but with analysis: you read the news (for example, inflation reports or statements by central banks). See where the markets closed yesterday, and what trends are emerging. You determine the "zone of interest" — where strong price movements are likely today.

Setting the "traps": where to set the levels. Instead of staring at the screen all day, you put price levels in the indicator where you are waiting for important events. Near round numbers (for example, 1.1000 for EUR/USD). At past highs/lows. Near trend lines or shapes (triangles, flags). You set up alerts (sound, email, push notification).It's like setting up surveillance cameras at an intersection — you capture the points where an accident is likely (a price spike).

Quiet work: you are free! Now you can do your own thing: Drink coffee, work on other projects, go for a walk. Do not worry that you will miss the moment — the indicator will become your "screaming parrot". Why is it convenient? The market often moves in spurts: 80% of the time — boring flat, 20% — sudden jumps. It makes no sense to wait by the sea for the weather.

Alarm: it's time to act! As soon as the price reaches your level: You receive an alert (for example, on the mobile terminal in your smartphone). You quickly return to the computer and check if this is a false breakdown. See if the candle has closed behind the level. Is there any confirmation? Volumes, news, patterns (for example, "hammer" or "shooting star"). Has the trend continued? This is how to receive an SMS: "The alarm went off in your house!" You don't run right away, but first look through the camera — isn't it a cat?

Entering the market: coolly and according to plan. If everything matches, you open a deal according to pre-thought-out rules. Place a stop loss behind the level (for example, 15 points below the breakdown). Take profit — at the next significant level or as a percentage of the stop loss. Don't try to "catch the whole trend" — take your planned profit.