Discussion of article "How to use MQL5 to detect candlesticks patterns"

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New article How to use MQL5 to detect candlesticks patterns has been published:

Candlesticks are a very helpful technical tool if we use them correctly, as we can find a potential movement based on their patterns. Candlesticks can form specific patterns on the chart and these patterns can be divided into two types single-candle patterns and blended candle patterns (more than one candle). In this article, we will learn how we can use MQL5 to detect some of these patterns automatically in the MetaTrader 5 trading terminal
  • Piercing Line Pattern:

It is a bullish candlestick and consists of two candles also as the first candle is bearish and followed by a bullish one with lower open than the bearish one then moves up and closes above the midpoint of the first bearish candle. The following figure is for a graph that describes it:

Piercing Line

It indicates that the buyer becomes stronger and controls the market after the control from the seller. So, it refers to a shift from selling to buying power as the buyer was able to push the price above the midpoint of the previous bearish candle although there was a gap when opening.

Author: Mohamed Abdelmaaboud

 
I am new trading. How do I install these? Thank you!
 
Bethany Achieng #:
I am new trading. How do I install these? Thank you!

Thanks for your comment. These mq5 files are source code files and after compiling them in your MQL5 IDE, you will find them in your terminal of MetaTrader 5 then you can attach them to your chart.

 

Mohamed,

Thank you for sharing  your candlesticks pattern system. Is it possible to compile all candlesticks pattern into a single mql file? I am new to coding MT5. Can you guide me how to do it? Thanks again!   

 
Tradermojocom #:

Mohamed,

Thank you for sharing  your candlesticks pattern system. Is it possible to compile all candlesticks pattern into a single mql file? I am new to coding MT5. Can you guide me how to do it? Thanks again!   

Thanks for your comment. Yes, you can do that.

 

EA does not work on the chart

 

Indeed, nothing works neither as an Expert Advisor nor as an Indicator.

It does not show anything at all. Neither Real nor on the History.

 
Thank you for your kind comments. If you download the files attached to the article, they will work. You can download and test them from the source code and you will find the signal of each described candle appearing on the chart as stated in the article. I retested them after downloading them and found them to work.
 
I understand that the Expert Advisor starts working only from the moment it is added to the chart, and it does not show the past history. I got it working on 1min Timeframe. I added all the others to make sure they work. Thanks for your reply.
 
And why did you make it as an Expert Advisor, because it does not trade, but only searches and shows. Also, if I try to add all your Expert Advisors to the chart at once, there is probably a limitation in MT5, because when adding a new one, it deletes one of the previous ones, not more than 2 allowed. So there is a logical conclusion that it should be an Indicator, and preferably one and not several. And then we can refer to it from the Advisor Code to place Orders. Maybe you can try to redo it. Thank you very much.
 
Thank you for your comment. First I need to clarify that you can do it the way you want, it can be an indicator that can detect and show them, or an EA that can give you the necessary actions such as trading if you want and you can combine them into an advanced EA. to get them all when executed correctly, which will be attached to the chart as one EA. there is no truth or lies here, the purpose here is only educational to share how we can code these types of candlestick patterns, then you can use them in your own
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