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Candle patterns scanner with trend filter MT5

49 USD

Demo downloaded: 809

Published: 19 April 2018

Current version: 2.1

Candle patterns scanner with trend filter MT5

Indicators
Jan Flodin
Version: 2.1
Updated: 7 October 2023
Activations: 10

I recommend you to read the product's blog (manual) from start to end so that it is clear from the beginning what the indicator offers.

This multi time frame and multi symbol indicator scans for Pin bars, Morning/evening stars, Engulfings, Tweezers, Three Line Strikes, Inside bars and Pennants and Triangles. The indicator can also be used in single chart mode. Please read more about this option in the product's blog. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system.

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 time frame, from M1 to MN, and sends you a real-time alert (pop-up, push or mail) when a pattern is identified.
Can use RSI and Bollinger bands as filter for pin bar, morning/evening star, engulfing and tweezer formations in order to properly identify potential reversals.
Can use moving average as a major trend filter and ADX as volality 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.
The indicator can write the signals to a file which can be used by an Expert Advisor for auto trading.

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

Input parameters

Please find the description and explanation of the input parameters here.

Important

Please note that due to the multifunctionality neither buy and sell advice nor lines and arrows will be drawn on the chart where the indicator has been installed. Lines pointing out the Inside bars and Pennant and Triangles formations and arrows for the other candle patterns will be drawn on the chart which opens up when you click on a singal in the chart panel.

It is highly advisable to put the indicator on a clean (empty) chart without any other indicators or Expert Advisors on it which could interfere with the scanner.

more...

1164

tunck 2023.04.08 02:44 #

SL/TP for patterns?

Kayhan 2021.09.07 16:25 #

I was looking forward to seeing this kind of indicator. Thank you very much.

smmfx 2020.11.05 16:07 #

An amazing indicator that gives me very accurate signals based on my strategy. I thank Jan for answering my challenging questions before I buy it. The coding and details that saw looks very professional.

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I recommend you to read the product's blog (manual) from start to end so that it is clear from the beginning what the indicactor offers. This multi time frame and multi symbol divergence dashboard indicator sends an alert when one or two different divergences have been identified. It can be used with all time frames from M1 to MN. It is possible to enable moving average or RSI trend filter to filter out only the strongest setups. Combined with your own rules and techniques, this indicator wi

49 USD

The indicator identifies when a divergence occurs between price and an indicator or oscillator. It identifies bullish and bearish hidden or regular (classical) divergences. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system. Features Can detect divergences for the following indicators/oscillators: MACD, OsMA (Moving average of Oscillator), Stochastics, RSI, CCI, RVI, Awesome (AO), ADX, ATR, OBV, MFI, Momentum and Composi

FREE

This indicator can send alerts when a Heiken Ashi Smoothed color change occurs. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system. Features Can send all types of alerts. Option to delay the alert one or more bars in order to confirm the color (trend) change. Input parameters Candle shift for alert: Default is 1. Setting it to 0 will alert you on color change on the current candle. This should be regarded as a pending (uncon

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I recommend you to read the product's blog (manual) from start to end so that it is clear from the beginning what the EA offers. This Expert Advisor identifies when a divergence occurs between price and an oscillator/indicator. It identifies both regular/classical (trend reversal) and hidden (trend continuation) divergences. It has supply/demand zone, RSI, bollinger, stochastics, moving average (regular MA and Hull MA), ADX and volume filter options which makes it possible to filter out only

59 USD

This indicator can send alerts when a Heiken Ashi Smoothed color change occurs. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system. Features Can send all types of alerts. Option to delay the alert one bar in order to confirm the color (trend) change. Input parameters Wait for candle close: 'true' or 'false'. Setting it to 'true' will delay the alert to the opening of the bar following the bar where the color change occurred.

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I recommend you to read the product's blog (manual) from start to end so that it is clear from the beginning what the EA offers. This Expert advisor's (EA) main strategy is to place trades when 3 moving averages (MA) are in consecutive alignment and at a certain distance from each other (it can be used for instance for a not very well known strategy used by some institutional traders, which involves the MAs 10, 20 and 30 on the D1 time frame). The EA works best on H1 and larger time frames. Th

79 USD

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39 USD

This indicator recognizes a special type of Inside Bar formation which is formed by a big Master candle followed by 4 smaller candles (please see the strategy explanation below). Features Plots buy/sell stop lines on the chart as well as well as take profit and stop loss levels. The TP/SL levels are based on the Average True Range (ATR) indicator. Object colors are changeable. Sends you a real-time alert when a Master candle formation is identified - sound / popup / email / push notification. On

10 USD

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59 USD

Features This is an indicator that recognizes a special type of Inside Bar formation which is formed by a Master candle followed by 4 smaller candles (please see the strategy explanation below). Plots buy/sell stop lines on the chart as well as well as take profit and stop loss levels. The TP/SL levels are based on the Average True Range (ATR) indicator. Object colors are changeable. Sends you a real-time alert when a Master candle formation is identified - sound / pop-up / email / push notifica

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69 USD

I recommend you to read the product's blog (manual) from start to end so that it is clear from the beginning what the indicator offers. The indicator identifies when a divergence occurs between price and an oscillator/indicator. It identifies both regular and hidden divergences. It has a RSI, Bollinger Bands and ATR filter options which makes it possible to filter out only the strongest setups. The indicator also offers options to wait for an Engulfing formation, Donchian channel breakout,

59 USD

I recommend you to read the product's blog (manual) from start to end so that it is clear from the beginning what the indicactor offers. This multi time frame and multi symbol indicator can identify the following 5 crosses: when a fast moving average crosses a slow moving average line. when price has reached a single moving average (closed above/below or just bounced). when a triple moving average formation has appeared (all 3 MA:s in consecutive alignment). when the MACD main line crosses t

30 USD

Please if possible consider buying the MT5 version which at the moment offers more functionaIity . I also recommend you to read the product's blog (manual) from start to end so that it is clear from the beginning what the EA offers. This Expert advisor's (EA) main strategy is to place trades when 3 moving averages (MA) are in consecutive alignment and at a certain distance from each other (it can be used for instance for a not very well known strategy used by some institutional traders, whic

59 USD

This multi time frame and multi symbol indicator scans for Pin bars, Morning/Evening stars, Engulfings, Tweezers, Three line strikes, Inside bars and Pennants and Triangles. The indicator can also be used in single chart mode. Please read more about this option in the product's blog . Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system. Features Can monitor all symbols visible in your Market Watch window at the same time. Ap

49 USD

This multi time frame and multi symbol indicator identifies when the stochastics signal line (D) crosses the stochastics main line (K) as well as options to scan for main line and signal line level crossovers. As a bonus it can also scan for Bollinger bands and RSI overbought/oversold crosses. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system. Features Can monitor all symbols visible in your Market Watch window at the sam

30 USD

This multi indicator/oscillator (hereafter indicator), multi time frame and multi symbol indicator identifies when a divergence occurs between price and one, two or three indicators. It identifies both regular/classical (trend reversal) and hidden (trend continuation) divergences. It has RSI and MA trend filter options which makes it possible to filter out only the strongest setups. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerfu

39 USD

This multi time frame and multi symbol indicator identifies fractals patterns. As a bonus it can also scan for Parabolic SAR (pSAR) trend changes. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system. 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. Can monitor every time frame, from M1 to MN, and sends you a

30 USD

Filter:

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tunck 2023.04.08 02:44 #

SL/TP for patterns?

119009

Reply from developer Jan Flodin 2023.04.08 13:45 #

Hello and many thanks for the review :-)
Engulfing, Tweezer and Three line strike:
The entry is typically at the high/low of the pattern. SL and risk level for trading can be placed at the swing high/low of the pattern. This makes it relatively easy for traders to target (TP) at least twice the distance of their stop loss, creating a 1:2 risk-to-reward ratio.
Pin bar:
Entry on break of pin bar high/low. SL at pin bar low/high. TP at previous swing point. For this purpose you can use Donchian channel (highest/lowest of last 20 bars). Please make sure that it will give at least R/R (risk/reward) of 1:2).
Inside bars and Pennants/triangles:
Will need to attach a document which is not possible here. I will send you a private message on MQL5 as soon as you have approved my Friends request (you have blocked sending private messages from non friends)

Kayhan 2021.09.07 16:25 #

I was looking forward to seeing this kind of indicator. Thank you very much.

Delboyuk 2020.12.29 18:22 #

User didn't leave any comment to the rating

smmfx 2020.11.05 16:07 #

Thomas 2019.07.10 11:22 #

Perfect. Get really good Signals. Thx Jan again.

2933

Devonish 2018.11.21 20:23 #

I've just rented this for a month and initial impressions are good. Its quite likely I may go on to purchase as scanning all assets on all time frames is not practical. It will be used to support existing strategies. The only reason its not 5 star is having the candle/s highlighted on the chart would be nice, but I accept its not possible.

June 2019 Update: I purchased this product and have been using it for six months. It compliments my strategies very well. Upgraded to 5 stars.

Version 2.1 2023.10.07

*** Please always make a backup of the existing indicator (the .ex5 file) before you make an update ***

Change log:
- bug fix for the panel which in some cases got minimized
- added an option to write the signals as global variables instead of to a file (to be used by an EA)
- added the possibility to set the colors in the panel
- added drawing of a rectangle to highlight Engulfings, Tweezers, Stars and Three line strikes

Version 2.0 2022.10.25

*** Please always make a backup of the existing indicator (the .ex5 file) before you make an update ***

- added an option to the engulfing scanning to set minimum amount of candles that must be engulfed. In this way it will be possible to scan for so called Outside bars.

Version 1.9 2021.12.15

- bug fix in the single chart function

Version 1.8 2021.12.08

*** Please always make a backup of the existing indicator (the .ex5 file) before you make an update ***

- added a possibility to use the indicator in single chart mode (checking only one symbol and time frame). It will then draw the patterns on the chart where the indicator is running. This option is in some ways limited though. More information in the product's blog.
- added the possibility to be alerted only when there has been a breakout from the Inside bars formation
- added the drawing of arrows for pin bar, engulfing, tweezer, star and three line strike patterns when the chart is opened from the panel
- added the possibility to add a custom text to the pop-up, push and mail alerts
- added the possibility to set a custom panel title
- 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 1.7 2019.11.20

- 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/43820

Version 1.6 2019.09.17

- added drawing of Tweezer and Three Line Strike formations in the strategy tester
- added moving average trend filter
- added ADX volality filter

Version 1.5 2019.08.13

- added scanning for Three Line Strike formations

Version 1.4 2019.07.15

- corrected bug fix for the change in version 1.3

Version 1.3 2019.07.15

- added the possibility to set a fixed time frame for the trend filter.

Version 1.2 2019.07.10

- added the possibility to ignore wicks on the inside bars candles
- 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 of the line drawings mentioned above

Version 1.1 2019.06.20

- it is now possible to enable Tweezer separately without also having Engulfing enabled
- added the possibility to set the panel width
- added an option to use symbols from the Market Watch window
- added an additional average candle size filter for pin bars
- added an addiotinal midpoint filter for pin bars