Pattern Screener Pro

Pattern Screener Pro scans every symbol in your Market Watch on the timeframes you choose and lists the chart and candlestick patterns it finds in a panel on the chart. Click a result to switch the chart to that symbol and see the pattern drawn.

Chart patterns

• Double top and double bottom
• Triple top and triple bottom
• Head and shoulders, inverse head and shoulders
• Ascending, descending and symmetrical triangles
• Rising and falling wedges
• Bull and bear flags

Candlestick patterns

• Bullish and bearish engulfing
• Hammer and shooting star, confirmed by the next candle
• Morning star and evening star

How patterns are validated

• Swing points can be taken from candle bodies or from wicks.
• A pattern must be at least a set number of ATRs tall and a set share of the recent price range, so small fluctuations are ignored.
• Reversal patterns require a prior trend into the pattern.
• Double and triple tops and bottoms require level peaks that are well spaced in time.
• Head and shoulders requires a clear head, level and evenly spaced shoulders and a nearly flat neckline.
• Triangles and wedges require three touches, price contained between the lines, line slopes that match the pattern type and a prior trend that matches the pattern type. Breakouts against the pattern's direction are not shown.
• Flags require a steep pole followed by an orderly channel that is shorter than three times the pole.
• Candlestick patterns require a prior move into a recent high or low and minimum candle sizes.
• A pattern is removed when price has already moved past its level by more than the pattern's height, or when a candlestick signal is broken.

Each result shows its status: Forming, Breakout (the last closed bar closed through the neckline or trendline) or Signal (candlestick patterns).

The panel

• Sort by symbol, timeframe, pattern, bias, status, quality, price, level, distance to level or age.
• Filter by bias, status, timeframe, pattern group and symbol name.
• Click a result, or use the arrow keys, to switch the chart to that symbol. The panel, filters and chart zoom stay as they are.
• The chart can switch to the pattern's timeframe or keep its current timeframe.
• Chart patterns are drawn with a shaded zone, the pattern outline, the neckline or trendlines and a price tag at the breakout level. Candlestick signals are marked with a box around the candles.
• An optional dark chart theme is applied while the indicator runs. Your chart colors are restored when it is removed.

Input parameters

Scan

• Timeframes - timeframes to scan, separated by commas, for example H1,H4,D1.
• Bars per symbol and timeframe - history loaded for each scan (150-2000).
• Rescan every N minutes - automatic rescan interval; 0 scans only when you press Scan.

Detection

• Swing points from - candle bodies (ignores wick spikes) or wicks (classic charting).
• Swing strength - number of bars on each side of a swing high or low.
• Equal-level tolerance (ATR) - how close two levels must be to count as equal.
• Minimum pattern height (ATR) - smallest pattern size in ATR units.
• Minimum height (fraction of 120-bar range) - smallest pattern size compared with the recent price range.
• Reversal patterns need a prior trend - require a trend into reversal patterns.
• Minimum flag pole (ATR) - smallest flag pole in ATR units.
• Maximum bars for flag pole and body - longest allowed flag pole and flag.
• Maximum bars since the last swing point - how recent a pattern must be.
• Include candlestick patterns - turn candlestick patterns on or off.

Chart

• Timeframe when switching symbol - use the pattern's timeframe or keep the chart's current timeframe.
• Apply the dark chart theme - dark colors while the indicator runs.
• Draw this chart's patterns when nothing is selected - show the patterns of the current chart.
• Bullish, Bearish, Neutral and Neckline / trendline colors - drawing colors.

Panel

• Rows shown - number of result rows (5-40).
• Panel X position, Panel Y position - panel location on the chart.
• Font size - panel text size.

Notes

• The indicator finds and draws patterns for your analysis. It does not open trades or give trade recommendations.
• Symbols must be in Market Watch, and history must be available for the selected timeframes. During the first scan some symbols may show as loading while the terminal downloads history.