Hi, I am Jan, developer of this indicator.

Please feel free to ask me anything about this, or my other products.

Regards,

Jan

For optimal memory consumption in your MT5 terminal I recommend you to set Max bars in chart to 5000 or less. Please see the screenshot below.

Jan Hi,

Will the Pennants and Triangle scanning work with the RSI filter (set to 70/30).

The nature of the Pennant pattern seems to suggest RSI would not be overbought or oversold on completion of the pattern?

Hi and thanks for your message. 

The RSI filter is not used for the pennant and triangles patterns. I could of course implement it but it would then have to be used for triangles as well since I am not doing any difference between these 2 patterns in my code. Normally we consider a pennant as a trend continuation formation. A strong trend does not necessarily have to respect the overbought/oversold state. Therefore I am not sure if implementing it would make sence. I would rather recommend you to have the RSI indicator on your chart template (the one you use when clicking on a signal in the panel) and make you own decision whether to take a trade or not based your RSI rules.

Please don't hesitate to contact me again with any question you might have. I will be glad to assist :-)

Jan

Jan thanks. No it wouldn't make sense, that was why I asked. I'm not asking you to implement it. It wasn't clear if the RSI filter applied to Pennants and Triangles.

Also, I see you recently updated the Master Candle Strategy Scanner, however this product has inside and engulfing candle scanning so would I benefit from using it? If it does do a different job, its a shame it wasn't included in the one I've bought.

 I will write you a private message (PM) in a short while.

Jan

Hi Jan,

I didnt understand the chart pattern scanner I have just rented could only be applied to forex signals, I though it could be applied to whatever symbols I had in my pannel...(I trade the stock market in Brazil). I wonder whether there is a way I can use it for this purpose.

Thanks,

Enrico.

Hi Enrico,

glad that you found it out. Please anyway never hesitate to contact me again with any further questions you might have. I will be glad to assist :-)

Best regards,

Jan

Hi Jan,

I am experiencing some challenges with implementing the Candle Pattern Scanner indicator. I wanted the scanner to identify engulfing patterns that meet certain oversold and Overbought conditions on the RSI but it seems my RSI settings are not being considered. I see alerts for candles that don't meet the RSI conditions. Please help to resolve this. 

Thanks and regards

Petrus

Hi Petrus and thanks for using my Candle pattern scanner :-)

I will write you a private message here on MQL5 in a short while and we will continue from there.

Best regards,

Jan

Hi Jan I bought the indicator a while ago and have only just started using it. Regarding inside bars, does the Alert appear on the first/next inside bar, or does it need more than one inside bar?

Hi and thanks for using my Candle patterns scanner :-)

The alert will com according to the settings you have in the 'Minimum amount of inside bars' input parameter. We can take the example that you have set it to 10. The alert will come on opening of the 10th bar, counted from the Mother bar. On the screenshot below you can see it. The condition must of course be that the high/low levels were never broken by any of the previous bars. The alert will be repated on each next bar until the there is a break-out from the mother bar or the value in the 'Maximum amount of inside bars' parameter has been reached.

Hi Jan, first of all thanks a lot for the indicator. Definitely 5 star. It is very useful for me. May I ask that is it possible to add 45 min in this indicator to scan?

Kind regards.

Hello, I bought the indicator but many engulfing candles are not recognized.

I have already tried all the settings for the engulfing candles, what can I do?

Thanks

Hi Jan,

I bought your scanner but you've set your message parameters to friend only so i tried to add you as a friend but as yet, I'm unable to message you :( I need to set the alerts to only occur at the end of each candle to avoid constant alerts, can this be done please? Thanks, Jan.

Hi and thanks for your message. I wrote a private message to you yesterday with an answer to your question. You should now be able to answer me from there.

Best regards,

Jan