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Candle patterns scanner with trend filter MT5

This indicator scans for Pin bars, Morning/evening stars, Engulfings, Tweezers, Three Line Strikes, Inside bars and Pennants and Triangles.

The indicator can write the signals to a file which can be used by an Expert Advisor for auto tradingFor instance  this product.

Features

  • Can monitor all symbols visible in your Market Watch window at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
  • Monitors every timeframe, from M1 to MN, and sends you a real-time alert when a pattern is identified.
  • Can use RSI or Bollinger bands as filter for pin bar, morning/evening star and engulfing formations in order to properly identify potential reversals.
  • Can use moving average as a major trend filter and ADX as volality filter.
  • The indicator includes an interactive panel. When clicking on an item a new chart will be opened with the symbol and timeframe in question.

You can place the indicator on for instance EURUSD M5 chart and receive an alert from any symbol and any timeframe of your choice.

The Pennant and Triangles scanner identifies high-probability breakout patterns. It does this by identifying strong, symmetrical Pennants and Triangles. This pattern DOES NOT appear very often on higher timeframes. But when it does, it is a very high-probability setup. Please see screenshots here.


Parameters

Please find the description and explanation of the input parameters here.


Please note that due to the multifunctionality neither buy and sell advice nor lines and arrows will be drawn on the chart.

I recommend you to put the indicator on a EURUSD M5 chart, preferable a clean chart without any other indicators or Expert Advisors on it.


Please also check out my other candle patterns and trend reversal products:

No other products at the moment

Thomas
238
Thomas 2019.07.10 11:22 
 

Perfect. Get really good Signals. Thx Jan again.

Devonish
825
Devonish 2018.11.21 20:23 
 

I've just rented this for a month and initial impressions are good. Its quite likely I may go on to purchase as scanning all assets on all time frames is not practical. It will be used to support existing strategies. The only reason its not 5 star is having the candle/s highlighted on the chart would be nice, but I accept its not possible.

June 2019 Update: I purchased this product and have been using it for six months. It compliments my strategies very well. Upgraded to 5 stars.

Versão 1.7 2019.11.20
- added the possibility to write the signals in the panel to a file. Could for instance be used by an Expert Advisor for automatical trading. For instance this product: https://www.mql5.com/en/market/product/43820
Versão 1.6 2019.09.17
- added drawing of Tweezer and Three Line Strike formations in the strategy tester
- added moving average trend filter
- added ADX volality filter
Versão 1.5 2019.08.13
- added scanning for Three Line Strike formations
Versão 1.4 2019.07.15
- corrected bug fix for the change in version 1.3
Versão 1.3 2019.07.15
- added the possibility to set a fixed time frame for the trend filter.
Versão 1.2 2019.07.10
- added the possibility to ignore wicks on the inside bars candles
- added the possibility to set minimum and/or maximum candle size for the master (first) bar in a inside bars formation
- lines will now be drawn on Inside bars and Pennant/Triangles formations when opening a chart from the panel
- added a parameter for the line color of the line drawings mentioned above
Versão 1.1 2019.06.20
- it is now possible to enable Tweezer separately without also having Engulfing enabled
- added the possibility to set the panel width
- added an option to use symbols from the Market Watch window
- added an additional average candle size filter for pin bars
- added an addiotinal midpoint filter for pin bars