Tweezer Trading System
- Indicatori
- Ich Khiem Nguyen
- Versione: 1.0
- Attivazioni: 10
Tweezer Trading System for MetaTrader 5
Tweezer Trading System is a price action indicator for MT5 designed to detect 2-bar reversal patterns using matching highs or matching lows and generate structured trade setups after confirmation.
A detailed user guide is available on the author’s MQL5 Blog.
Additional updates are available through the author’s MQL5 Channel.
Depending on the current support policy, buyers may receive additional access to selected companion tools developed by the author.
Overview
Tweezer Trading System detects two-candle reversal structures where a setup bar and a signal bar share a matching extreme, either a common high or a common low.
This pattern can be used to identify repeated rejection at the same price level and a possible shift in directional pressure.
All calculations are based on completed bars only.
Detection is non-repainting. Signal values do not change after the bar is closed.
The indicator can draw Entry, Stop Loss, and Take Profit levels directly on the chart and track signal progress after detection.
Detection Logic
The detection model evaluates each completed two-bar pattern through several structural conditions.
These conditions can include:
Direction reversal between setup bar and signal bar
Matching high or matching low within ATR-scaled tolerance
Minimum range requirement for at least one candle
Close position of the signal candle relative to the previous range
Close Location Value of the signal candle
Doji filtering for weak-body candles
The indicator can detect both Tweezer Top and Tweezer Bottom structures.
Patterns that do not meet the selected structural requirements are ignored.
Quality Evaluation
Each valid pattern can be evaluated through a multi-factor quality model.
The scoring process can include measurements such as:
Direction change
Overlap ratio
Close versus previous range
Close Location Value
Range size relative to ATR
Doji penalty logic
Signals below the selected minimum threshold can be filtered out automatically.
Entry and trade planning
For confirmed setups, the indicator can project breakout levels using pending-style stop entry beyond the pattern extreme.
For each valid setup, the indicator can display:
Entry level
Stop Loss level
Up to four Take Profit levels
Risk and reward zones on the chart
Stop Loss can be calculated using Donchian Channel logic or ATR-based logic.
An optional trailing stop based on Donchian logic is also available for users who want dynamic trade management after entry.
Filters and tools
Optional filters are available to reduce unnecessary signals.
These include Direction Filter, Extreme Zone Filter, Stop Hunt Filter, Signal Zone Filter, and Opposite Signal Filter.
The built-in scanner can monitor up to 150 symbols across 8 timeframes from a single chart.
The indicator also includes BOS and CHOCH labels, a signal dashboard, alert options, chart themes, and output buffers for Expert Advisor integration.
Recommended use
Recommended timeframes are H1, H4, and Daily because matching extremes tend to be more meaningful on higher timeframes.
The indicator can be applied to Forex pairs, XAUUSD, indices, and crypto symbols, depending on broker data quality and symbol characteristics.
Loading sufficient chart history is recommended for more stable structure analysis.
MetaTrader 5 only.
No DLL calls.
No external WebRequest connections.
Important notes
This indicator is a technical analysis tool.
It does not guarantee trading results.
Users should test settings in their own environment and apply appropriate risk management.
Support is available through the product comments section or via MQL5 direct message.
