Hikkake Trading System
- Indicadores
- Ich Khiem Nguyen
- Versão: 1.0
- Ativações: 10
Hikkake Trading System for MetaTrader 5
Hikkake Trading System is a price action indicator for MT5 designed to detect false breakout trap patterns built from inside bar structure and confirmation 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
Hikkake Trading System detects multi-bar trap structures in which an inside bar breakout fails and price reverses through the opposite side of the pattern range.
This pattern can be used to identify false breakout conditions where trapped traders may fuel a directional move after confirmation.
All calculations are based on completed bars only.
Detection is non-repainting. Signal values do not change after the confirmation 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 pattern through several structural conditions.
These conditions can include:
Setup bar range definition
Inside bar containment within the setup bar
Fakeout breach of one inside bar boundary
Confirmation close beyond the opposite boundary
Time limit for confirmation after the fakeout
The indicator can detect both bullish and bearish Hikkake structures.
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:
Inside bar containment quality
Confirmation body strength relative to ATR
Inside bar range relative to ATR
Direction change after the fakeout
Breach depth beyond the inside bar boundary
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 breakout levels using pending-style entry logic at the inside bar boundary opposite the fakeout direction.
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.
