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RTR Breakout Patterns Scanner

This price action indicator automates the detection of range breakout patterns, trend breakout patterns and retest breakout 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 and therefore works exactly the same for all timeframes and financial market (currencies, cryptocurrencies, stocks, indices, commodities and bonds) instruments. However, it performs better during active market periods of the instrument.

  • Scalping traders: attach to 1/5 mins timeframe.
  • Day traders: attach to 15 mins/1 hr timeframe.
  • Swing traders: attach to 4 hrs/daily timeframe.
  • Longer-term position traders: attach to weekly/monthly timeframe.


Key points

  • This indicator generates high take profit to stop loss pips trade signals (which can be set to a minimum of 1:1) and notifies through sound alert, push notification and email of a signal detection (entry) and when the stop loss and profit levels are reached.
  • Does not repaint. Trade signal is not deleted after entry breakout, so that real-time monitoring/trading can be effective.
  • This indicator is suitable for professional and novice traders because it eliminates the time and energy of price action trade signal analysis.
  • It provides clean and simple chart pattern display that can easily be monitored/traded profitably.


Parameters

  • SEARCH
    • Search for only Signal with Minimum TP to SL Pips Ratio of 1:1
    • Search for only High Probability Breakout Patterns
    • Enable System Resources Optimal Scan
    • Search for Range - search for range breakout patterns
    • Search for Retest - search for retest breakout patterns
  • DISPLAY
    • 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)
    • Show Pattern Illustration
    • Show Stop Loss Level
    • Show Take Profit Level
    • Show Second Take Profit Level (if "Show Take Profit Level"=true)
    • Show Level Description on the Level.
  • NOTIFICATION
    • Add Notification Tag (maximum of 15 characters) - add customized tag to notifications
    • Enable Sound Alert - enable pop-up alerts
    • Enable Push Notifications 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 > Trend Breakout Patterns Scanner (in the terminal menu select to view: File -> Open Data Folder).


Recommendation

  • Install this indicator on Virtual Hosting to always receive instant trading signals via push notifications to the MetaTrader 4 mobile terminal on your device. More details on setting up Virtual Hosting can be found in the video here.
No reviews
Version 2.1 - 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 2.0 - 2017.09.06
- 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 > RTR 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 1.6 - 2017.05.19
- Basic bug fixes and improved overall performance.
- Email notification added.
- Improved take profit algorithm.
Version 1.5 - 2017.03.22
- Basic bug fixes and improvements.
Version 1.4 - 2017.03.17
Basic bug fixes and improvements.
Version 1.3 - 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 1.2 - 2017.02.15
- 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'.
- "Hide Pattern Illustration" input settings changed to "Show Pattern Illustration" with a default value of "true".
Version 1.1 - 2017.01.12
- Basic bug fixes and improvements.