Candle Pattern Engine MT4
- Indicators
- Version: 1.0
Candle Pattern Engine is a multi-timeframe candlestick pattern recognition indicator. It scans price action across several timeframes simultaneously, detects up to 41 classic candlestick patterns, and can filter signals using a selectable trend indicator to reduce noise from counter-trend patterns.
Key Features
1. Multi-Timeframe Pattern Scanning
- Scans a configurable, comma-separated list of timeframes (e.g. M5, M15, H1) in a single instance.
- Configurable lookback period controls how many bars are analyzed per timeframe.
2. 41 Candlestick Patterns Across 4 Groups
- Single Candle: Doji, Hammer, Inverted Hammer, Hanging Man, Shooting Star, Dragonfly Doji (Top/Bottom), Gravestone Doji (Top/Bottom).
- Two Candle: Bullish/Bearish Engulfing, Bullish/Bearish Harami and Harami Cross, Homing Pigeon, Descending Hawk, Piercing Line, Dark Cloud Cover, Bull/Bear Sash, Bull/Bear Separating Line, Bullish/Bearish Counter Attack, Tweezers Top/Bottom.
- Gap & Special: Bullish Kicker, Bearish Kicker.
- Three Candle: Morning Star, Evening Star, Three White Soldiers, Three Black Crows, Three Inside Up/Down, Three Outside Up/Down, Two Crows, Upside Gap Two Crows, Advance Block, Three Stars in the South.
- Every pattern can be enabled or disabled independently.
3. Optional Trend Filter
- Choose from five trend sources: Moving Average Cross, Parabolic SAR, SuperTrend, RSI, or Stochastic.
- Each trend source has its own configurable parameters (periods, methods, buy/sell levels, step/multiplier, etc.).
- Trend filtering can be switched off entirely so patterns are detected regardless of trend context.
4. Alerts
- Terminal popup alerts.
- Push notifications to mobile.
- Email alerts.
- Alerts fire on the most recent completed bar and summarize current buy/sell signal counts in the active lookback window.
5. Visualization & Theme
- Pattern boundary boxes with configurable fill and color.
- Pattern name labels, including the detected timeframe.
- Bullish/bearish direction arrows with independent up/down colors.
- Light/dark panel theme selection.
Key Benefits
- Covers a broad, configurable library of candlestick patterns in one indicator instead of many single-pattern tools.
- Reduces false signals by optionally filtering patterns against a trend context.
- Scans multiple timeframes at once, so setups aren't missed by watching a single chart.
- Flexible alerting keeps you informed without needing to watch the chart continuously.
Who This Indicator Is For
- Price action traders who rely on candlestick formations to time entries and exits.
- Traders who want pattern signals filtered by trend direction rather than raw pattern hits.
- Multi-timeframe traders who need consistent pattern scanning across several charts at once.
Input Parameters
| Parameter Group | Parameter | Description |
|---|---|---|
| General | ||
| General | Lookback | Number of bars to analyze. |
| General | Use Trend | Gate to enable/disable trend filtering of patterns. |
| General | Timeframes | Comma-separated list of timeframes to scan. |
| Trend | ||
| Trend | Trend Type | Selects the trend indicator: Moving Average Cross, Parabolic SAR, SuperTrend, RSI, or Stochastic. |
| Trend - MA Cross | Fast/Slow Period, Shift, Method | Settings for the fast and slow moving averages. |
| Trend - Parabolic SAR | Step, Maximum | Standard Parabolic SAR settings. |
| Trend - SuperTrend | Period, Multiplier | Standard SuperTrend settings. |
| Trend - RSI | Period, Buy Level, Sell Level | RSI period and crossover levels used to define trend direction. |
| Trend - Stochastic | K Period, D Period, Slowing, Buy Level, Sell Level | Stochastic settings and crossover levels used to define trend direction. |
| Alerts | ||
| Alerts | Pop Alerts | Show terminal alert popup. |
| Alerts | Push Alerts | Send push notification to mobile. |
| Alerts | Email Alerts | Send email alert. |
| Drawing | ||
| Drawing | Theme | Panel color theme (light/dark). |
| Drawing | Box Fill / Box Color | Enable and color the pattern boundary box. |
| Drawing | Name Color | Pattern name label text color. |
| Drawing | Arrow Up / Arrow Down Color | Colors for bullish and bearish direction arrows. |
| Patterns | ||
| Patterns | Single Candle, Two Candle, Gap & Special, Three Candle | Individual on/off switches for all 41 supported patterns, grouped by candle count. |
Summary
- Candle Pattern Engine detects up to 41 candlestick patterns across multiple timeframes in one indicator.
- Patterns can be filtered by a selectable trend indicator, or left unfiltered.
- Popup, push, and email alerts keep you informed of new signals without watching the chart.
Disclaimer
Trading financial markets involves risk. This indicator does not guarantee any specific outcome and should not be used as the sole basis for trading decisions. It is intended for analytical purposes only.
