Candel Sticks Indicator and Filters - page 6

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Thanks

I can do what you recommend and if I need the default changed I can change the settings on the indicator.

 

Forum on trading, automated trading systems and testing trading strategies

Something Interesting

Sergey Golubev, 2017.05.30 11:32

There is interesting EA which was created for MT5:

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CodeBase: 
Bullish and Bearish Engulfing - expert for MetaTrader 5
This EA (the latest fixed version) is trading on 'Bullish and Bearish Engulfing' patterns.



The development thread (free development) - Requests & Ideas (MQL5 only!)




 

And this is about how to program with some more information about how to use (if someone is having some more ideas about how to improve this free EA - go to this thread with good elaborated idea):

The development thread (free development) - Requests & Ideas (MQL5 only!)

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Some more information -

CodeBase:

  1. Libraries: MQL5 Wizard - Candlestick Patterns Class

Small Articles:

  1. Bullish Engulfing Pattern 

  2. Bearish Engulfing Pattern

 

And finally - good article for more ideas:

ANALYZING CANDLESTICK PATTERNS
 

And this indicator was already coded for MT4 and MT5 (link to CodeBase):

Forum on trading, automated trading systems and testing trading strategies

Something Interesting

Sergey Golubev, 2016.06.23 21:14

Harami

This is one interesting indicator for MT5 and MT5 for searching harami pattern:

Harami indicator for Metatrader 5;

Harami indicator for Metatrader 4.

"It's just a normal search pattern Harami. You can do with it whatever you want. Personally, I find it useful on H1 charts. Position closes when a reversal characteristics as shown in the central part of the picture. Then open a long position on a 100+ pips. Watch out for feet, expose them tight enough!"




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Studying candlestick analysis techniques (part I): Checking existing patterns 

Candlestick analysis appeared more than 20 years ago and has since become quite popular. Many traders consider Japanese candlesticks the most convenient and easily understandable asset price visualization form. The similar bar format does not provide enough visual data. Japanese candlesticks are more convenient in terms of setup and display of candlestick body colors and thus provide a better visualization of market developments. 

Studying candlestick analysis techniques (part I): Checking existing patterns

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Studying candlestick analysis techniques (Part II): Auto search for new pattern

Existing candlestick analysis methods were analyzed in the previous article. We found out that they are not universal and are not suitable for all conditions. On the contrary, before using them, you should perform additional verification for the specific financial instrument, timeframe etc. I.e. for the conditions in which the patterns will be used.

The specifically designed approach also enables the individual analysis of each pattern for a selected financial instrument or a set of instruments. It also allows finding possible correlations between predefined parameters, including the timeframe or sample range, as well as specially entered metrics, such as frequency of occurrence, probability of movement in a certain direction after the pattern formation.

The analyzing method only concerned 14 patterns selected from a large variety of existing candlestick formations. It is impossible to analyze all the patterns one by one, therefore another solution was found. The key feature of all the patterns examined earlier was their basis, i.e. what they consist of. Four of the analyzed candlestick patterns consisted of one candlestick and ten of them consisted of two candles. The analyzed candlestick patterns consisted of different sets or sequences of six candlestick types.

Studying candlestick analysis techniques (Part II)

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