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Find Pattern

The program allows to find candle combinations, which is the most similar to the selected one, in past and make a forecast basing on these parts of the chart.

Working with this application is easy - select interested bar sequence on the chart ("sample"), and the program will find parts on the chart similar to this sequence ("patterns") and apply them on current prices.

I recommend to try out free version of the program before purchasing it. Free version works on symbols which have "EURUSD" in their names.


Program Settings

You can select one of following algorithms in the Search settings menu to search for the most similar "patterns":

  1. Finding vector magnitude plotted between the "sample" and the sought "pattern" in multidimensional space (Distance). The smaller the module is (min 0), the more similar the "pattern" and the "sample".
  2. Finding Pearson correlation coefficient between the "sample" and the sought "pattern"(Pearson's r). The bigger the correlation coefficient is (max 1), the more similar the "pattern" and the "sample".

The program supports 2 methods of combination of prices of the "sample" and the sought "pattern":

  1. Relatively to the open price of the "sample's" first bar.
  2. Relatively to mathematical expectation of the "sample".

For accounting "patterns'" volatility if you choose the second method, and to accelerate search if you choose the first method, you can set a minimum ratio of the "sample" standard deviation to the "pattern" standard deviation (Min. SD ratio). The closer this ratio to 1, the less different standard deviations of prices of the "pattern" and the "sample".

The "Search settings" menu also offers to set:

  • Program interface language (Russian/English);
  • Number of bars in the "sample" and forecasting constituent of the "pattern";
  • Date of the first bar in history to start the search, or total number of bars in history;
  • Total number of the most similar "patterns", remembered by the program during the search.

The "View settings" menu offers to set graphical objects and plotting displayed on the chart. The main graphical elements are:

  • Pointer to the current bar. Shows the first bar of the "sample". When the program searches "patterns", it accounts the open price of that bar only. Open, high and low prices are accounted for other bars.
  • Market profile. Made according to the forecasting constituent of all found "patterns". The wider the profile is, the longer the price was on this price level
  • High and low price line. These are the highest high price and the lowest low price among all found prices.
  • Average price line. Drawn according to open, high and low price.

The "Color settings" menu offers an ability to select color for all elements displayed on the chart. You can also select width and type of lines.

The "Result" menu offers an ability to move to found "patterns" to scrutinize them. Values of all defining readings are also displayed. You can eliminate any found "pattern" from the forecast if you did not like it for some reason.

The program remembers all settings and automatically uploads them when loading.


Recommendations

  1. The program settings are stored separately for each symbol and period in the folder "MetaTrader 5\MQL5\Files\FindPattern". If you need to revert to original settings of the program, remove the folder "FindPattern".
  2. It has to be understood that even if the price behaved in a certain manner dozen times, it does not mean that it will be behaving likewise. Use the mentioned tool as a supplement to your trading system and for checking signals of other indicators. Do not make decisions on opening a position relying upon its recommendations only.
  3. Does not work in the strategy tester.
  4. The program does not redraw its readings and cannot dip into the future. It allows to test it right on the chart.
  5. Deep quote history is required for qualitative operation.

The program has a lot of analogues:

  • in Market: 1, 2, 3, 4.
  • in Code Base: 1, 2, 3, 4, 5.
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