Mql5官网 Patterns and Zones MTF 外汇EA

This indicator is a powerful assistant that shows bullish/bearish zones on the chart and the candlestick patterns that happen on any timeframe. It shows zones based on changes in price and 25 defined patterns which are shown as bullish or bearish on the chart after close of the candle, so there is no repaint. Also, you can select other timeframes in order to see the patterns happening on them.

Patterns

There are 25 defined patterns in this indicator. Eight patterns can be bullish or bearish, 8 patterns are only bullish, and 9 are only bearish patterns. Common patterns are Engulfing, Harami, Harami cross, Belt-hold, Meeting line, Doji star, Pin bar with long tails, Pin bar with short tails. Bullish Patterns are Dragonfly doji, Hammer, Inverted hammer, Piercing line, Morning star, Morning doji star, Three white soldiers, Tower bottom. And Bearish Patterns are: Advance block, Dark cloud, Evening star, Evening doji star, Hanging man, Gravestone doji, Shooting star, Three black crows, Tower top.

Patterns are optional, and you can enable/disable any patterns. Also, the names of the patterns are shown on the chart for the current timeframe, and on the top left side for all the other selected timeframes.

Zones

The zones are created based on the price change in a certain number of bars. There are 3 inputs to change the zones’ formation.

If the absolute value of changes in the price (Price source) in a number of bars (which is determined by Look-back value), gets higher than the threshold percentage (Sensitivity) then a zone is created. the zones are removed from the chart after two candles close above/below them.

How To Use

You have to know that the patterns can be formed on many occasions, but You have to assess the situation yourself. The indicator shows the patterns and zones together, and also the patterns that happen on other chosen timeframes, so you can determine if the price has reached the bottom/top or support/resistance and help you make your own strategy better. If you add some more technical confirmations and analysis of your own – like dynamic channels – you can have a very good chance in your strategy and trading with the help of this indicator.