Matching Low Trading System
- Indicatori
-
Ich Khiem Nguyen
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Matching Low Trading System for MetaTrader 5
Matching Low Trading System is a price action indicator for MT5 designed to detect 2-bar bullish reversal patterns and generate long setups using confirmation-style pending entry logic.
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
Matching Low Trading System detects two consecutive bearish candles that close at or near the same price level, forming a possible bullish reversal structure.
This pattern can be used to identify repeated support holding after selling pressure fails to close lower on the second attempt.
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:
Close match precision between the two bearish candles
Body size relative to ATR
Lower shadow restriction
Body-to-range relationship
Range overlap between the two candles
The indicator is designed for bullish Matching Low detection only.
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:
Close match precision
Candle body size relative to ATR
Lower shadow quality
Relative body structure
Overlap ratio between the two candles
Signals below the selected minimum threshold can be filtered out automatically.
Multiple detection modes are available, including Standard Mode, Strict Mode, and Custom Mode.
Entry and trade planning
For confirmed setups, the indicator can project bullish breakout levels using pending-style entry logic above the second candle high.
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 a pattern-based method, ATR-based logic, or Donchian Channel reference.
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:
Quality Filter
Extreme Zone Filter
Direction Filter
Stoploss Hunt Filter
Signal Zone Filter
Spacing Filter
Opposite Signal Filter
The built-in scanner can monitor multiple symbols and timeframes from a single chart.
The indicator also includes BOS and CHOCH labels, a signal dashboard, alert options, chart themes, statistics tracking, and output buffers for Expert Advisor integration through iCustom().
Recommended use
Recommended timeframes are H1 and H4 for a balance between signal frequency and structural clarity.
The indicator can be applied to Forex pairs, XAUUSD, indices, and other instruments, 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.
