Candle Stick Pattern Detector
- Indicatori
- Versione: 1.0
CANDLESTICK PATTERN DETECTOR
Most candlestick indicators put a green or red arrow on every formation and leave you to guess which ones matter. Candlestick Pattern Detector reports each pattern as four separate pieces of information, so you can judge it instead of just following an arrow:
- Direction: Bullish, Bearish or Neutral
- Type: Reversal, Continuation, Momentum or Indecision
- Strength: Weak, Moderate or Strong (a structure score, explained below)
- Status: Detected, Confirmed or Invalidated
A Hammer is not automatically a buy signal. The indicator reports a Hammer only after a measurable decline; the same shape after an advance is reported as a Hanging Man; with no clear trend it is not reported at all. A Doji is shown as indecision, never as a trade signal.
KEY FEATURES
- 60 candlestick patterns: single-candle, two-candle, three-candle, four-candle and five-candle formations.
- Context-aware: reversal patterns require the proper prior trend (measured with ATR, so it adapts to each instrument).
- Confirmation tracking: each directional pattern is followed after it forms. A check mark appears when price confirms it, and a cross appears if it fails. Three confirmation methods.
- Strength rating with a documented formula (candle size, body and wick proportions, prior trend, structure, confirmation, optional filters).
- Works on any symbol and timeframe: forex, gold, silver, indices and other MT5 symbols. All thresholds are relative to ATR, so nothing is tied to one price scale.
- Closed-candle detection: signals are calculated when a candle closes and historical signals are not redrawn. An optional live mode shows provisional text labels for the forming candle only.
- Clean chart: short pattern names, arrows, and hover tooltips with full details. Labels avoid overlapping each other. Colours follow your chart background automatically (light or dark theme).
- Information panel with the latest pattern, direction, type, strength score, close time, prior trend and confirmation status.
- Alerts: popup, sound, push notification and email, for detected, confirmed and invalidated patterns. One alert per candle and pattern, never repeated on every tick.
- Optional filters: EMA trend, RSI, ADX, ATR volatility, swing support/resistance, higher-timeframe trend, tick volume. All off by default; they never stop a pattern being detected unless you turn on "Filtered only".
- Display controls: best pattern per candle or all patterns; bullish, bearish or neutral only; reversal or continuation only; minimum strength.
- Efficient: ATR is updated incrementally and each closed candle is processed once. Historical scan depth is configurable.
PATTERNS INCLUDED
Single candle: Hammer, Inverted Hammer, Hanging Man, Shooting Star, Doji, Dragonfly Doji, Gravestone Doji, Long-Legged Doji, Four-Price Doji, Bullish Marubozu, Bearish Marubozu, Spinning Top, Bullish Belt Hold, Bearish Belt Hold.
Two candles: Bullish/Bearish Engulfing, Bullish/Bearish Harami, Bullish/Bearish Harami Cross, Piercing Line, Dark Cloud Cover, Tweezer Bottom, Tweezer Top, Bullish/Bearish Kicking, Bullish/Bearish Outside Bar, Bullish/Bearish Meeting Lines, Matching Low, Matching High, Bullish/Bearish Separating Lines, Thrusting Line, On-Neck Line, Inside Bar, Homing Pigeon, Rising Window, Falling Window.
Three candles or more: Morning Star, Evening Star, Morning Doji Star, Evening Doji Star, Three White Soldiers, Three Black Crows, Three Inside Up/Down, Three Outside Up/Down, Bullish/Bearish Abandoned Baby, Bullish/Bearish Tri-Star, Upside/Downside Tasuki Gap, Bullish/Bearish Three Line Strike (4 candles), Rising/Falling Three Methods (5 candles).
HOW TO READ A SIGNAL
- Green up-arrow below a candle: bullish pattern. Red down-arrow above: bearish pattern. Grey dot: neutral (indecision).
- Hover the pattern label to see direction, type, strength score, number of candles, prior trend and close time.
- Check mark: price later closed beyond the pattern's extreme in its direction (confirmed). Orange cross: price closed beyond the opposite extreme (invalidated).
- Strength measures how large, clean and well-placed the formation is. It is not a probability of profit.
IMPORTANT NOTES
- Candlestick patterns are not guarantees of market direction. Any pattern can fail. The indicator does not give trading advice and does not claim any win rate.
- Patterns that depend on gaps (Kicking, Abandoned Baby, Tri-Star, Tasuki Gap, windows) are less common on 24-hour forex charts. By default the indicator uses a small tolerance for gaps; "Strict gaps" can be switched on for instruments that really gap.
- Tick volume comes from your broker and is not real traded volume.
- This is an indicator only. It does not open or close trades.
INPUT PARAMETERS
General
- Object-name tag: prefix for chart objects (change if two copies run on the same chart). Default: CPD
- Colour theme: Automatic (follows chart background), Dark or Light. Default: Automatic
- Font: font for labels and panel. Default: Segoe UI
- Detect single-candle / two-candle / three-to-five-candle / additional patterns: switch each group on or off. Default: all on
- Disabled patterns: pattern codes to switch off, comma separated. Default: FOURPRICE_DOJI, INSIDE_BAR
- Historical candles to scan: how many past candles are analysed when the indicator loads (0 = all). Default: 1000
Candle measurement (all relative to ATR or candle range)
- ATR period: Wilder ATR used as the measuring stick. Default: 14
- Doji body (fraction of range): a doji has a body no larger than this. Default: 0.10
- Marubozu body (fraction of range): a marubozu body is at least this. Default: 0.90
- Long body (x ATR): minimum body to count as "long". Default: 0.80
- Small body (x ATR): maximum body of a star's middle candle. Default: 0.35
- Minimum body (x ATR): smallest meaningful body for pattern candles. Default: 0.25
- Minimum range (x ATR): smallest candle range for single-candle patterns. Default: 0.30
- Long-legged range (x ATR): minimum range of a long-legged doji. Default: 1.00
- Wick-to-body ratio: hammer family, long wick at least this multiple of the body. Default: 2.0
- Short wick (fraction of range): hammer family, opposite wick at most this. Default: 0.15
- Doji long wick / short wick (fraction of range): Dragonfly and Gravestone rules. Defaults: 0.60 / 0.10
- Long-legged wick (fraction of range): both wicks at least this. Default: 0.30
- Belt-hold wick (fraction of range): opening-side wick at most this. Default: 0.05
- Harami / methods inner body ratio: inner body at most this multiple of the outer body. Default: 0.60
- Engulfing ratio: engulfing body at least this multiple of the engulfed body. Default: 1.00
- Soldiers/crows body (x ATR) and wick: minimum body and maximum closing-side wick. Defaults: 0.50 / 0.35
- Equal-price tolerance (x ATR): for tweezers, matching and meeting lines. Default: 0.05
- Gap tolerance (x ATR): relaxed gap tolerance for forex. Default: 0.15
- Strict gaps: require true high/low gaps (for indices and stocks). Default: off
Trend context
- Require trend context: context-dependent patterns need the proper prior trend. Default: on
- Trend lookback (candles): candles used to measure the prior trend. Default: 8
- Minimum prior move (x ATR): net move needed to call it a trend. Default: 1.5
- Trend consistency: share of candles that must close with the trend. Default: 0.60
Confirmation
- Confirmation method: Off; next candle closes in pattern direction; or a close beyond the pattern high/low. Default: close beyond pattern high/low
- Confirmation window (candles): how long a pattern can wait for confirmation. Default: 3
Strength classification
- Moderate score / Strong score: score cut-offs (0-100). Defaults: 45 / 70
Optional technical filters (all off by default)
- EMA trend filter: fast and slow EMA periods (20 / 50)
- RSI filter: period, oversold and overbought levels (14 / 30 / 70)
- ADX filter: period and minimum value (14 / 20)
- ATR volatility filter: averaging bars and minimum ratio (50 / 0.80)
- Support/resistance filter: lookback, pivot width and proximity (100 / 3 / 0.50 ATR)
- Higher-timeframe filter: timeframe and EMA period (H4 / 50). The timeframe must be above the chart timeframe.
- Tick-volume filter: averaging bars and multiplier (20 / 1.20)
- Filtered only: show directional patterns only when every enabled filter passes. Default: off
Display mode
- Display mode: best pattern per candle, or all patterns. Default: best per candle
- Direction filter: all, bullish only, bearish only or neutral only. Default: all
- Type filter: all, reversal only, or continuation and momentum only. Default: all
- Minimum strength to display: Weak, Moderate or Strong. Default: Moderate
Chart objects
- Draw arrows / text labels / confirmation marks: switch each on or off. Default: all on
- Arrow size (1-5) and label text size. Defaults: 2 / 8
- Arrow and label distance (x ATR): spacing from the candle. Defaults: 0.25 / 0.35
- Vertical labels: rotate labels 90 degrees. Default: off
- Label details: optionally add direction, type, strength and candle count to the label text. Default: off (details are in the hover tooltip)
- Label neutral patterns: text for neutral patterns (they always get a marker). Default: off
- Candles that get text labels: only the latest N candles get text; older ones keep arrows and tooltips. Default: 120
- Names per label and label cap: at most 2 names per label; at most 150 labels kept. Defaults: 2 / 150
- Highlight latest pattern: dotted box around the latest pattern. Default: on
- Live mode: provisional labels for the forming candle. Default: off
- Colours: bullish, bearish, neutral, invalidation and live colours. Default: automatic by theme
Information panel
- Show panel, position (corner), horizontal and vertical offset, text size, minimum width. Defaults: on, top-left, 10, 20, 9, 250
Alerts
- Alert on detection / confirmation / invalidation. Defaults: on / on / off
- Include neutral patterns in alerts. Default: off
- Minimum strength for alerts. Default: Weak
- Popup / sound / push notification / email. Defaults: on / off / off / off
- Sound file name. Default: alert.wav
- Patterns excluded from alerts: pattern codes, comma separated. Default: none
