• Overview
  • Reviews (9)
  • Comments (58)
  • What's new

Candle patterns scanner with RSI filter

This indicator scans for Pin bars, Morning/Evening stars, Engulfings, Tweezers, Three line strikes, Inside bars and Pennants and Triangles.

The indicator can write the signals to a file which can be used by an Expert Advisor for auto trading. For instance this product.


Features

  • Can monitor all symbols visible in your Market Watch window at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
  • Monitors every timeframe, from M1 to MN, and sends you a real-time alert when a pattern is identified.
  • Can use RSI and Bollinger bands as filter for pin bar, morning/evening star and engulfing formations in order to properly identify potential reversals.
  • Can use moving average as a major trend filter.
  • The indicator includes an interactive panel. When clicking on an item a new chart will be opened with the symbol and time frame in question.

It is enough to place the indicator on one chart and you will receive an alert from any symbol and any time frame of your choice.

The Pennant and Triangles scanner identifies high-probability breakout patterns. It does this by identifying strong, symmetrical Pennants and Triangles. This pattern DOES NOT appear very often on higher timeframes. But when it does, it is a very high-probability setup. Please see screenshots here.


Parameters

The description and explanation of the input parameters can be found here.


Please note that due to the multifunctionality neither buy and sell advice nor lines and arrows will be drawn on the chart.

I recommend you to put the indicator on EURUSD M5 chart. A clean chart without any other indicators, Expert Advisors etc. on it is preferable.


Please also check out my other candle patterns products:

Trend reversal dashboard

Reviews 9
pdlongkiem
441
pdlongkiem 2020.04.11 04:36 
 

It's a useful indi, thanks

fxcommentary
1522
fxcommentary 2020.03.24 00:53 
 

Very good filters of setups, the tool is well thought off. Thanks to developer. Easily can be connected to separate EA and becomes fully operational EA.

Giordano
63
Giordano 2018.03.04 15:17 
 

I especially thank Jan that with professionalism and helpfulness has helped me to solve a problem that was not the indicator but of the MT4, but together we have solved everything even if today is Sunday, I recommend to all its services and its products.

Good trading

Recommended products
Filter:
sunnychow
8615
sunnychow 2020.05.01 10:35 
 

User didn't leave any comment to the rating

pdlongkiem
441
pdlongkiem 2020.04.11 04:36 
 

It's a useful indi, thanks

fxcommentary
1522
fxcommentary 2020.03.24 00:53 
 

Very good filters of setups, the tool is well thought off. Thanks to developer. Easily can be connected to separate EA and becomes fully operational EA.

Giordano
63
Giordano 2018.03.04 15:17 
 

I especially thank Jan that with professionalism and helpfulness has helped me to solve a problem that was not the indicator but of the MT4, but together we have solved everything even if today is Sunday, I recommend to all its services and its products.

Good trading

Ninja Trader
70
Ninja Trader 2018.01.04 12:57 
 

Great job on this indicator. Has many functions, extremely useful tool. Excellent communication with the developer.

Katayoun Mehrabian
635
Katayoun Mehrabian 2017.08.21 23:13 
 

Great Scanner use it every day.

dmposton
823
dmposton 2017.08.11 22:19 
 

Agree with other reviews. This scanner works as the overview states. It is a must when trading manually. Developer is knowledgeable friendly and quick to respond to questions.

Dennis

fabbry72
1364
fabbry72 2017.08.11 01:50 
 

Very good job.

Indicator works perfectly.

Thanks

Fab.

tomasoft
651
tomasoft 2017.07.18 15:50   

User didn't leave any comment to the rating

Version 2.8 2020.08.21
- added the engulfing option Size candle B engulfs body candle A
- added the possibility to use RSI trend filter in combinaton with Bollinger bands. Both must be on overbought/oversold area.
Version 2.7 2019.11.11
- added the possibility to write the signals in the panel to a file. Could for instance be used by an Expert Advisor for automatical trading. For instance this product: https://www.mql5.com/en/market/product/43512
- added ADX filter
Version 2.6 2019.08.24
- added drawing of Tweezer and Three Line Strike formations in the strategy tester
- added moving average trend filter
Version 2.5 2019.08.13
- added scanning of Three Line Strike formations
Version 2.4 2019.07.17
- added the possibility to set a fixed time frame for the trend filter
Version 2.3 2019.07.10
- added the possibility to ignore wicks on the inside bars candles
Version 2.2 2019.07.09
- added the possibility to set minimum and/or maximum candle size for the master (first) bar in a inside bars formation
- lines will now be drawn on Inside bars and Pennant/Triangles formations when opening a chart from the panel
- added a parameter for the line color if the drawing mentioned above
Version 2.1 2019.03.24
- added an option to filter out small pin bars by using the average candle size for the past xx candles
- it is now possible to select to scan all visible symbols from the Market Watch window instead of using the 'Symbols' input
parameter.
- added a smiley in the upper right corner of the chart showing that the indicator is up and running properly
Version 2.0 2018.12.01
- added an option to use candle midpoint logic for pin bars
Version 1.9 2018.11.01
- added possibility to set the panel width. Useful for those with Windows font size set to 125%
- corrected an issue with the sound file for custom sound alerts
- made it possible to enable Tweezer scanning separately from Engulfing
- added Bollinger filter option which can be used instead of the RSI filter
Version 1.8 2018.04.17
- added scanning for morning/evening star candle formations
- added support for testing in the Strategy tester
- added possibility to set a custom sound file for alerts
Version 1.7 2018.04.05
- added time of alert to the panel
- added possibility to use a custom chart template when opening a chart from the panel
Version 1.6 2018.02.08
- added the close price to the alert text for pin bar and engulfing signals
Version 1.5 2018.01.12
- added panel for storing signals
- added possibility to set short text version for alerts
Version 1.4 2017.11.10
- added scanning for tweezer pattern
Version 1.3 2017.08.10
- added possibility to set RSI (candle) shift in the Engulfing scanner
Version 1.2 2017.07.03
- changed setting of minimum candle body size from points to percentage
- added filter for scanning bullish and/or bearish engulfing and pinbar
Version 1.1 2017.06.23
Changes in the engulfing part of the scanner:
- 1 minor bug fix
- It is now possible to set the minimum body size in percent for the engulfing candle
- The alert will now give information about which type of pattern you have selected. Please see screenshot.