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Pattern Recognition Master
Pattern Recognition Master MetaTrader indicator
the kind of indicator that helps you with the routine work, marking the
candlesticks on the chart with the names of the corresponding patterns (like
doji or shooting star) where applicable. All you have to do is just to look if
this chart pattern is bullish or bearish, check the general trend and decide
your trading stance. You can refer to this
list of Japanese candlestick patterns
to quickly find the signal value of the recognized pattern. This indicator is
available for both MT4 and MT5 versions of the platform.
Input parameters:
- Show_Alert (default = true) if set to true, shows
the alerts when certain pattern is detected.
- UseExtraDigit (default = false) set it to true if
your broker uses extra digit (pip) in the quotes.
- Other parameters turn on and off display of various
patterns. It's not recommended to change them.
First, you should understand that this indicator only indicates the patterns.
You see the symbols near the candlesticks and you see the legend for the symbols
in the upper left corner of the screen. Second, you need to know how these
patterns work and when one signals for short position and signals for long. For
the experienced Japanese candlestick patterns traders it's a really helpful
tool, for many other traders it may prove useless.
Downloads:
Pattern Recognition Master for MetaTrader 4 in .zip
Pattern Recognition Master for MetaTrader 4 in .mq4
Pattern Recognition Master for MetaTrader 5 in .zip
Pattern Recognition Master for MetaTrader 5 in .mq5
Discussion:
Warning! Before you ask any basic questions regarding installation of
the indicators, please, read this
MetaTrader 4 Indicators Tutorial or MetaTrader 5 Indicators Tutorial
to get the elementary knowledge on handling them.
Do you have any suggestions or questions regarding this indicator? You can
always
discuss Pattern Recognition Master with
the other traders and MQL programmers on the indicators forums.
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