Chart Patterns All in One

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This indicator combines multiple chart patterns into a single, unified tool for MetaTrader 4 (MT4). It provides the functionality to toggle each pattern on or off directly from the chart, allowing for customizable and efficient analysis. Here is a detailed description of the indicator and the patterns it includes:

Patterns Included:

1. Pattern 1-2-3

   • Description: This pattern is used to identify potential reversals in the market. It looks for a sequence of three points (highs or lows) that signal a change in the trend.
   • Signals:
     • Buy signal: Formed when there are two consecutive lows with the second low higher than the first, followed by a high lower than the previous high.
     • Sell signal: Formed when there are two consecutive highs with the second high lower than the first, followed by a low higher than the previous low.
   • Visualization: Draws lines connecting the points of the pattern on the chart and places arrows at the completion points.

2. Double Top and Bottom

   • Description: This pattern helps identify potential reversal points where the price forms two consecutive highs (Double Top) or lows (Double Bottom) that are approximately equal, indicating a possible reversal.
   • Signals:
     • Double Top: Bearish reversal signal.
     • Double Bottom: Bullish reversal signal.
   • Visualization: Draws lines connecting the tops or bottoms and places arrows at the reversal points.

3. Triple Top and Bottom

   • Description: Similar to the Double Top and Bottom, but with three consecutive highs or lows. This pattern is considered stronger than the Double Top and Bottom.
   • Signals:
     • Triple Top: Bearish reversal signal.
     • Triple Bottom: Bullish reversal signal.
   • Visualization: Draws lines connecting the tops or bottoms and places arrows at the reversal points.

4. Triangles

   • Description: Triangles are continuation patterns that signal a period of consolidation before the price continues in the direction of the prevailing trend. This indicator identifies ascending, descending, and symmetrical triangles. As it is based on the Zig-Zag indicator, sometimes the triangles can appear on the chart a few bars back. This happens because the Zig-Zag indicator draws its lines a little later than the peak occurred. Update: From further examination triangles sometimes can disappear as well but from back testing it shows that even with this characteristics of redraw it still gives reliable signals.
   • Signals:
     • Ascending Triangle: Bullish continuation signal.
     • Descending Triangle: Bearish continuation signal.
     • Symmetrical Triangle: Continuation signal that can break in either direction.
   • Visualization: Draws the triangle shapes on the chart and places arrows at the breakout points.

5. Splash and Shelf

   • Description: This pattern identifies sudden spikes in price (splash) followed by periods of consolidation (shelf). It's useful for spotting potential breakouts or reversals.
   • Signals:
     • Splash: Indicates a sharp movement in price.
     • Shelf: Indicates a consolidation phase after a splash.
   • Visualization: Draws trend lines for the splash and horizontal lines for the shelf.

6. Flag and Pennant

   • Description: Flags and pennants are short-term continuation patterns that signal a brief pause in the prevailing trend before it continues.
   • Signals:
     • Bullish Flag: Bullish continuation signal.
     • Bearish Flag: Bearish continuation signal.
     • Pennant: Continuation signal that forms a small symmetrical triangle.
   • Visualization: Draws flag and pennant shapes on the chart and places arrows at the breakout points.

Features:

• Toggle Patterns On/Off: The indicator provides buttons on the chart to toggle each pattern on or off. This allows for flexible and efficient analysis.
• Customizable Colors and Settings: Users can customize the colors, widths, and other settings for each pattern.
• Alerts and Notifications: The indicator can be configured to provide alerts, push notifications, and emails when patterns are identified.

Inputs:

• General Settings: Includes colors, widths, and other display settings for the patterns.
• Pattern Specific Settings:
  • Double_Triple_and_1_2_3 : Settings for Double Top/Bottom and Pattern 1-2-3.
  • Pattern_TRIANGLES : Settings for Triangle patterns.
  • Splash_and_shelf : Settings for Splash and Shelf patterns.
  • Flag_and_Pennant : Settings for Flag and Pennant patterns.
• Alert Settings: Configure alerts, notifications, and emails.

Visualization:

• Arrows and Lines: Each pattern is visualized with arrows and lines on the chart, making it easy to identify patterns at a glance.
• Interactive Buttons: Buttons are provided on the chart to toggle the visibility of each pattern.

This all-in-one indicator is a powerful tool for traders who use multiple chart patterns in their technical analysis. By combining these patterns into a single indicator, it simplifies the analysis process and helps traders make informed trading decisions.