Price Action Patterns Pro
- Indicators
- Version: 1.30
Price Action Patterns Pro is a candlestick pattern detector for MetaTrader 5 that automatically marks 23 single-candle, two-candle, and three-candle patterns on any chart and any timeframe. The indicator combines strict ratio-based pattern detection with two optional filters (ATR size filter and volume filter) so that patterns formed on weak or noisy candles can be rejected before they are drawn.
The indicator is designed for traders who use price action analysis as part of their decision process and want a consistent way to identify patterns across multiple symbols without measuring candle ratios manually. It does not place any orders. It detects, draws, and alerts.
Detected Patterns
The indicator detects the following 23 patterns. Each one can be enabled or disabled independently, and each one exposes its own ratio thresholds so detection can be tuned to match individual preferences.
Single-candle patterns: Pin Bar (Bullish and Bearish), Doji, Dragonfly Doji, Gravestone Doji, Spinning Top, Hammer, Hanging Man, Inverted Hammer, Shooting Star, Bullish Marubozu, Bearish Marubozu.
Two-candle patterns: Bullish Engulfing, Bearish Engulfing, Bullish Harami, Bearish Harami, Tweezer Bottom, Tweezer Top.
Three-candle patterns: Morning Star, Evening Star, Three White Soldiers, Three Black Crows, Three Inside Up, Three Inside Down.
Filters
Two optional filters can be applied on top of pattern detection.
The ATR size filter rejects patterns formed on candles whose total range is smaller than a configurable percentage of the current ATR value. The default minimum is 70 percent of the 14-period ATR. This removes patterns formed on tight consolidation candles.
The volume filter rejects patterns formed on candles whose tick volume is below a configurable percentage of the moving average volume. The default minimum is 80 percent of the 20-period volume average. This removes patterns formed without market participation.
Both filters can be disabled if not needed.
Display and Alerts
Arrow and label distances are calculated automatically from the symbol's ATR. This means the same indicator settings produce correctly spaced labels on EURUSD, XAUUSD, US30, BTCUSD, or any other instrument without manual adjustment per symbol.
Each pattern is drawn with an arrow above or below the signal candle and a label indicating the pattern name. Hovering over an arrow shows a tooltip with the exact body ratio, upper wick ratio, and lower wick ratio of the candle that produced the signal.
Four alert channels are available and can be enabled independently: terminal popup, sound, push notification to the MetaTrader 5 mobile application, and email. For push notifications to function, the MetaQuotes ID must be configured in the terminal under Tools, Options, Notifications.
Compatible Instruments
The indicator works on any symbol with valid OHLC data, including Forex pairs, Gold, Silver, indices, energy CFDs, the Dollar Index, and crypto CFDs.
Input Parameters
The parameters are organised into the following groups: Display, Auto Offset, Alerts and Notifications, ATR Size Filter, Volume Filter, and individual settings for each of the 23 patterns. Default values are configured to produce reasonable results across most instruments and timeframes. Tuning notes are included in the comments next to each parameter.
Tuning Notes
If the indicator produces too many signals, the ATR filter percentage and the volume filter percentage can be increased, and patterns that are not part of the user's strategy can be disabled.
If the indicator produces too few signals, the ATR and volume filter percentages can be decreased, and individual pattern ratios can be loosened.
For users interested only in major reversal setups, single-candle patterns can be disabled, leaving only Engulfing, Star, Three Soldiers, Three Crows, and Three Inside patterns active.
Requirements
MetaTrader 5 platform. Any broker, any account type. Works on every timeframe from M1 to MN1. MetaQuotes ID configured in the terminal if push notifications are required.
Notes
This indicator does not place trades. It identifies candlestick patterns and produces alerts. All trading decisions, position sizing, and order management remain the responsibility of the user. Past performance of any pattern type does not guarantee future results.
Comments and feedback are welcome through the comments section.
Chỉ báo này rất OK