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High Quality Candlestick Pattern Filter

There are many candlestick patterns but only a few are actually worth knowing. Candlestick Pattern Filter detects and marks the most reliable candlestick patterns. Remember that these patterns are only useful when you understand what is happening in each pattern. They should be combined with other forms of technical analysis for best result.

These patterns are included:

  1. Hammer / Hanging Man
  2. Inverted Hammer / Shooting Star
  3. Bullish / Bearish Engulfing
  4. Piercing Line / Dark Cloud Cover
  5. Morning Star / Evening Star
  6. Bulish / Bearish Harami


Features

  • High accuracy: The accuracy has been improved by tuning process. We have a set of input parameters for each pattern and adjust input parameters to get the best result.
  • Attach weighted value for each pattern: when display label for each pattern, we provide additional score for accuracy. The label format is:

    <Pattern name>.<additional score>/<maximum score of pattern>

    For example: BU_E.2/3 means Bullish Engulf pattern with accurate score is 2, and maximum additional score of Bullish Engulf pattern is 3.

New features/change:

  • Let user tuning accuracy of candlestick patterns by parameter.
  • Added function to send notifications via email.
  • Added function to send notifications via SMS.
  • Re-named and grouped old parameters by each candlestick pattern. It is easier to understand and use them.


Parameters

  • DisplayLegend: true/false: To show/hide legend at the top-left corner of chart screen.
  • SampleSize: Number of history bars those are used to calculate typical size( average of body length, upper shadow, lower shadow) of a candlestick at current time.
Group of parameters for Hammer pattern.
  • Hammer_Label: label for Hammer pattern, default value is "HR".
  • Hammer_Color: color of Hammer label, default value is Blue.
  • Hammer_DisplayLabel: to display label for Hammer pattern or not, default is True.
  • Hammer_ShowAlert: to show alert dialog for Hammer pattern or not, default is True.
  • Hammer_SendMail: to send email for Hammer pattern or not, default is False.
  • Hammer_SendSMS: to send SMS for Hammer pattern or not, default is False.
Group of parameters for Inverted Hammer pattern.
  • InvertedHammer_Label: label for Inverted Hammer pattern, default value is "IH".
  • InvertedHammer_Color: color of Inverted Hammer label, default value is White.
  • InvertedHammer_DisplayLabel: to display label for Inverted Hammer pattern or not, default is True.
  • InvertedHammer_ShowAlert: to show alert dialog for Inverted Hammer pattern or not, default is True.
  • InvertedHammer_SendMail: to send email for Inverted Hammer pattern or not, default is False.
  • InvertedHammer_SendSMS: to send SMS for Inverted Hammer pattern or not, default is False.
Group of parameters for Hanging Man pattern.
  • HangingMan_Label: label for Hanging Man pattern, default value is "HN".
  • HangingMan_Color: color of Hanging Man label, default value is Red.
  • HangingMan_DisplayLabel: to display label for Hanging Man pattern or not, default is True.
  • HangingMan_ShowAlert: to show alert dialog for Hanging Man pattern or not, default is True.
  • HangingMan_SendMail: to send email for Hanging Man pattern or not, default is False.
  • HangingMan_SendSMS: to send SMS for Hanging Man pattern or not, default is False.
Group of parameters for Shooting Star pattern.
  • ShootingStar_Label: label for Shooting Star pattern, default value is "SS".
  • ShootingStar_Color: color of Shooting Star label, default value is Red.
  • ShootingStar_DisplayLabel: to display label for Shooting Star pattern or not, default is True.
  • ShootingStar_ShowAlert: to show alert dialog for Shooting Star pattern or not, default is True.
  • ShootingStar_SendMail: to send email for Shooting Star pattern or not, default is False.
  • ShootingStar_SendSMS: to send SMS for Shooting Star pattern or not, default is False.
Group of parameters for Bullish Engulf pattern.
  • BullishEngulf_Label: label for Bullish Engulf pattern, default value is "BU_E".
  • BullishEngulf_Color: color of Bullish Engulf label, default value is White.
  • BullishEngulf_DisplayLabel: to display label for Bullish Engulf pattern or not, default is True.
  • BullishEngulf_ShowAlert: to show alert dialog for Bullish Engulf pattern or not, default is True.
  • BullishEngulf_SendMail: to send email for Bullish Engulf pattern or not, default is False.
  • BullishEngulf_SendSMS: to send SMS for Bullish Engulf pattern or not, default is False.
Group of parameters for Evening Star patterns.
  • EveningStar_Label: label for Evening Star pattern, default value is "E_S".
  • EveningStar_Color: color of Evening Star label, default value is Red.
  • EveningStar_DisplayLabel: to display label for Evening Star pattern or not, default is True.
  • EveningStar_ShowAlert: to show alert dialog for Evening Star pattern or not, default is True.
  • EveningStar_SendMail: to send email for Evening Star pattern or not, default is False.
  • EveningStar_SendSMS: to send SMS for Evening Star pattern or not, default is False.
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Currency Strength Wizard is a very powerful indicator that provides you with all-in-one solution for successful trading. The indicator calculates the power of this or that forex pair using the data of all currencies on multiple time frames. This data is represented in a form of easy to use currency index and currency power lines which you can use to see the power of this or that currency. All you need is attach the indicator to the chart you want to trade and the indicator will show you real str
First of all Its worth emphasizing here that this Trading Tool is Non-Repainting Non-Redrawing and Non-Lagging Indicator Which makes it ideal for professional trading . Online course, user manual and demo. The Smart Price Action Concepts Indicator is a very powerful tool for both new and experienced traders . It packs more than 20 useful indicators into one combining advanced trading ideas like Inner Circle Trader Analysis and Smart Money Concepts Trading Strategies . This indicator focuses on
CURRENTLY 26% OFF Best Solution for any Newbie or Expert Trader! This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. With only ONE chart you can read Currency Strength for 28 Forex pairs! Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity? User manual: click here That's the first one, the original! Don't buy a worthle
Ultimate Gold Advisor for MetaTrader 4 The Ultimate Gold Advisor is an advanced technological tool designed to optimize the trading experience on MetaTrader 4. Created to meet the needs of experienced traders, this indicator combines precision, sophisticated analysis, and versatile functionality, offering support for informed trading decisions. Ideal for gold trading but also applicable across a wide range of assets, the Ultimate Gold Advisor can help you improve your market strategies. What ma
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The indicator displays price distribution on a horizontal histogram. Horizontal histogram help find out key levels of price so that you can make good decision on setting point of take profit, stop loss... You can improve exist trading strategy or get new trading idea with the histogram of price. Outstanding features Support multiple time frame : you can choose to work with history data in any time frame you want. It does not depend on current display time frame. Support weighting by volume a
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MACD Twister
Vo Mai Chi
4 (1)
The trading strategy bases on MACD signal and confluence of trends on multiple time frames. It supports martingale, smart trade and many options so that you can setup their own trading strategy from the basic one. Look for new idea, improve trading performance by yourself without limitation. Outstanding Features Martingale trading : turn on/off martingale strategy. When you find out a parameter set which has a small value of maximum continuous loss, you can consider to turn on martingale mode
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Vanesa RSI Reverse
Vo Mai Chi
2 (1)
Vanesa RSI Reverse provides an amazing trading strategy. Use optimization function of Strategy Tester in MetaTrader 4 to find out many high potential parameter sets in very long term of history data (more than 2 years). The EA works well with XAUUSD in M15 but it also give similar results in others symbols and time frame. It just takes some minutes to try it out in your own history data to see the very good performance. We will continue to improve the strategy to get better performance in next v
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Setting Take profit (TP) to fixed level does not optimize your trade while using trailing stop requires traders to stay all time to screen. Vanesa Trailing Stop does trail stop by preset scenarios automatically. Vanesa Trailing Stop provides 3 (maximum) TP levels in points. For example: Level 1< Level 2 < Level 3. Traders provide value of trailing stop level for each TP level as parameters. Whenever total gain of a trade in points reaches the first TP level, EA will start doing trailing stop wit
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Version 2.6 2023.07.17
I just re-compile the current indicator with latest build version of Meta Trader 4.
Version 2.1 2021.11.26
Re-compile with latest version of Meta Trader 4 Terminal
Version 2.0 2016.06.21
- Added new parameter for tuning and improving accuracy of candlestick patterns.
- Renamed and re-arranged existing parameters so that they are easier to use.
- Added the functions for sending emails and SMS messages.