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Candle Pattern Finder MT5 demo

This indicator searches for candlestick patterns. Its operation principle is based on Candlestick Charting Explained: Timeless Techniques for Trading Stocks and Futures by Gregory L. Morris.

If a pattern is detected, the indicator displays a message at a bar closure.

This indicator is a complete analog of the Candle Pattern Finder demo indicator for MetaTrader 4

It recognizes the following patterns: Bullish/Bearish (possible settings in brackets):

  1. Hammer / Shooting Star (with or without confirmation*)
  2. Inverted Hammer / Hanging Man (with or without confirmation*)
  3. Engulfing (high or low sensibility**)
  4. Piercing Line / Dark Cloud Cover (high or low sensibility**)
  5. Three White Soldiers / Identical Three Crows (high or low sensibility**)
  6. Morning Star / Evening Star including Doji Star
  7. Rising Three Methods / Falling Three Methods
  8. Meeting Lines
  9. Harami, including Harami Cross
* - "Without confirmation" - a signal occurs straight at the closure of the bar that forms the candlestick pattern. "With confirmation" - the indicator waits for the next (confirming) bar closure.

** - "Low sensibility" - the pattern is recognized in strict conformity with the description from the book by Gregory L. Morris. "High sensibility" - uses additional criteria that take into account a variety of pattern options in the Forex market, which are not used on the stock market. This has increased the number of correct signals without increasing the number of false ones.


Features:

  1. The indicator implements virtually all candlestick patterns available for Forex from the book by G. Morris.
  2. The indicator is not tied to the size and shape of candlesticks, since it uses the intellectual recognition technique, which is similar to human perception - patterns are recognized so as a human eye would visually recognize them.
  3. You can choose to recognize separate candlestick patterns. Flexible settings for each pattern.
  4. Two languages are supported: English and Russian (the Language parameter). You can also add names of the candlestick patterns in your mother tongue (send me a private message).
  5. Sound and text notifications of pattern formation. Emails and push notifications to mobile devices (parameters ON/OFF-Mail and ON/OFF-Push).

If you want to scan candlestick patterns for all instruments and timeframes at once, then pay attention to the "Candle Pattern Dashboard for MT5" indicator


Parameters:

Parameters of candlestick patterns

  • Parameters of Hammer and Shooting Star (Disable / Single bar (without confirmation) / Bar with confirmation)
  • Parameters of Inverted Hammer and Hanging Man (Disable / Single bar (without confirmation) / Bar with confirmation)
  • Parameters of Engulfing pattern (Disable / High sensitivity / Low sensitivity)
  • Parameters of Cloud pattern (Dark/Piercing Cloud) (Disable / High sensitivity / Low sensitivity)
  • Parameters of Three White Soldiers/Identical Crows (Disable / High sensitivity / Low sensitivity)
  • Enable Morning Star and Evening Star (Disable / Enable)
  • Enable Rising/Falling Three Methods (Disable / Enable)
  • Enable Meeting Lines pattern (Disable / Enable)
  • Enable Harami pattern (Disable / Enable)

Notifications and Sound Settings

Color Settings

    Other Settings

    • Show Pattern Description
    • Language – English, Russian

    Limitation in the demo version:

    the indicator is fully functional on NZDUSD (history + real time signals). Signals on other instruments can be seen on the history (after 5 bars from the current one).

    Full version is located here.

    Comentários 8
    Micaela Suter
    332
    Micaela Suter 2016.07.12 10:27 
     

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    Trend Screener Pro MT5
    Sayadi Achraf
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    FX Volume MT5
    Daniel Stein
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    Lighthouse MT5
    Daniel Stein
    ⭐️⭐️⭐️⭐️⭐️ You want to become a constantly profitable 5-star forex trader? ⭐️⭐️⭐️⭐️⭐️ 1.  Read the basic description of our simple trading  system   &  and it's major strategy update in 2020   2.   Send a screenshot of your purchase  to get your personal invitation to our exclusive trading chat Lighthouse is an amazing precise and reliable support and resistance indicator. It displays the most important trading levels and draws them according to their relevance. If a level is clearly br
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    FX Trend MT5
    Daniel Stein
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    Pattern 1 2 3 MT5
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    Andrej Nikitin
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    Fabrizio Malavasi
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    PipFinite Breakout EDGE MT5
    Karlo Wilson Vendiola
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    Follow The Line PRO MT5
    Oliver Gideon Amofa Appiah
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    VTrende
    Andrey Dyachenko
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    Rodrigo da Silva Boa
    7197
    Rodrigo da Silva Boa 2015.12.09 06:31 
     

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    Michel Didier
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    Nork
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    Micaela Suter
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    Daniel Andrejczuk
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    Gennadiy Voltornist
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    Valentin Butorin
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    Responder ao comentário
    Versão 2.0 2018.03.06
    Fixed the 'out of range' error, which sometimes occurred on the smaller timeframes
    Versão 1.21 2017.03.29
    Updated to the new terminal build
    Versão 1.2 2016.04.11
    1. Added the "Description Font Size" parameter, which adjusts the font size of the pattern description

    2. Now the indicator is able to pass the EA not only the information on the candlestick pattern appearance, but also the type of the pattern using the global variables of the terminal.