Japanese Candlestick Pattern - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
EarnForex.com, based on MetaTrader 4 indicator: Carl Sanders
This indicator displays the patterns created by Japanese candlesticks on the chart.
This indicator was found by googling "Earnforex.com" and I changed some colors. Not all patterns represent changes in market direction. I find it useful to only show HRM4 and SS4 on the chart. Below are the specifications for all modes.
Colors can be changed and alerts enabled or disabled.
Bearish Pattern:
Bullish pattern:
Attachment download
📎 patterns_on_chart.mq5 (28.26 KB)
Source: MQL5 #11432
Japanese Candlestick Pattern - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Japanese Candlestick Pattern - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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