Candlestick Pattern Indicator For MT4

Many traders use Price Action as entry and exit signal. Since the beginning of chart analysis traders have found several candlestick patterns that can indicate possible “behaviours” of the market. Candlestick Pattern Indicator For MT4 is an indicator that can detect many of these patterns and show them on screen or alert the traders about them.

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What Is A Candlestick Pattern

Candlestick Patterns are specific candle formation that the trader can use to “read” the market sentiment.

Candlestick patterns can usually include one or more candles, typically up to 5 or 6 candles.

Traders learned with time how to read common candlestick formation, or patterns.

These are interpretations of market sentiment and usually predict some kind of reaction.

We can divide the Candlestick patterns in three main categories.

Depending on the more probable behaviour after they appear on chart:

  • Bullish
  • Bearish
  • Neutral

Many traders use candlestick patterns to enter and exit trades but it is important to use them carefully.

As you can see from many charts, in fact, Candlestick patterns use is more efficient when combined with other indicators and chart analysis.

What is Candlestick Pattern Indicator For MT4

Candlestick patterns can be recognised by the human eyes however there is no built-in indicator to detect them in Metatrader4.

Candlestick Pattern Indicator For MT4 can detect many 1, 2 and 3 candle candlestick patterns.

Once detected the indicator will place an arrow and a label on them to be more visible.

The indicator can also alert you when a new pattern is detected on a live chart.

Notification can be:

  • On Screen
  • Via Email
  • Via Mobile App.

How to use Candlestick Pattern Indicator For MT4?

The Candlestick Pattern Indicator For MT4 is very easy to use.

Mount the indicator on chart selecting how many bars to analyse.

You can select what patterns to detect and the notification options, the indicator will do the rest.



Since Candlestick patterns are very common in trading, Candlestick Pattern Detector Indicator for MT4 would be a useful addition to your trading toolbox.

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13 thoughts on “Candlestick Pattern Indicator For MT4”

  1. Dobro vece!
    Moje ime je Pajazit Pejcinovic iz Bara, Crna Gora.
    sad sam procitao o detectoru,nesto sam razumijo,samo me interesuje kupovinom detektora jel dobijam postom kao neki istrument ili vi saljete aplikaciju koju nazivate detektorom.
    Interesujeme da li vi pomazete oko instaliranja i mini obuke kako koristiti detektor.
    Ja sam jedan od dosta njih koji nije veliki i dobar znalac da radi sa racunarom,i ja sam jedan od njih koji ne govori i ne pise Engleski jezik.
    Koliko ste vi voljni da pomognete u ovome sto vas pitam ili samo hocete da prodate robu a sta cu ja raditi vas ne dotice.
    Nadam se da ste me razumjeli ,odnosno moja pitanja
    Pozdrav !
    Bar,Crna Gora

    • Hi Pajazit,
      I tried to translate the message, hope it helps…
      The Indicator is avalable to Buy/Download from Metatrader4 platform in the Market section.
      This indicator in particular detects the candlestick patterns and there is no training needed, all the options are quite simple.
      Let me know if you have more doubts.

  2. hie
    Andrew here from malawi
    i downloaded the Candlstick Patten detector but only works for AUD/ there any for all currencies?

  3. Hey, I would like to know does your candle stick pattern indicator does it scan for double tops and double bottoms. Thanks

    • Hi Omar,
      Double tops and bottoms are not included as they are usually separated by many bars.
      This indicator only scans for patterns in max 3 consecutive bars, you can test the Demo if you like.

  4. Does this indicator only alert after the candle close, or as soon as a pattern is recognized? Because to get an alert after the candle closes is sometimes too late and does not give a trader enough time to get in the trade, please let me knkw

    • Hi Muss,
      By definition the patterns are defined as patterns once the candle is closed therefore the indicator only alerts on candle close.
      For example consider a candle that currently looks like a marubozu in formation, at close it could well be an inverted hammer.
      I hope it makes sense.

  5. Hi Luka,
    your candle stick pattern found to me very good with possible winning probability.

    iwould like to have buffers to each pattern, could you suggest me or help me in this regard.
    Thank you

    • Hi Hemantha,
      Do you mean MQL buffers to use in an EA?
      I offer only 1 buffer to extract data from the indicator, the buffer will contain 1, 0 or -1 depending on the pattern detected.
      What you can do is to call the indicator enabling only the pattern that you are interested in and see the value returned by the indicator.
      Hope it makes sense


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