Forex Pattern Candlestick Trading Strategy
Forex Pattern Candlestick Trading Strategy is an indicator for MetaTrader 4 from the Old Kings collection. Judging by its name, it is built around candlestick patterns. Its source code uses moving averages, ATR and a price channel. It marks candlestick patterns. It has 32 settings, for example ma trend (default 100), env period (default 50) and dev (default 0.25). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 1 indicator file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex Pattern Candlestick Trading Strategy
Forex Pattern Candlestick Trading Strategy is an indicator for MetaTrader 4 based on Moving Average, ATR and Channels & Envelopes. It marks candlestick patterns. It has 32 settings, such as Ma trend, Env period and Dev. MQL source code included.
Files in the download: candle_patterns.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Ma trend | 100 | |
| Env period | 50 | Period or timeframe used by the calculation |
| Dev | 0.25 | |
| Alert | true | Turn this alert on or off |
| Sound | short.wav | alert.wav short.wav |
| Show labels | true | |
| Label pips | 25 | |
| Pin | true | |
| Bullish reversals | valid at bottoms | |
| Morning star | false | good |
| Morning doji star | false | good |
| Dragonfly doji | false | good |
| Abandoned baby | false | good |
| Three inside up | false | good |
| Hammer | false | |
| Three outside up | false | less reliable, only use at bottoms |
| Three white soldiers | false | |
| Breakaway | false | |
| Bullish continuation | valid in uptrend | |
| Bearishish reversals | valid at tops | |
| Abandoned baby bear | false | good |
| Evening star | false | good |
| Three inside down | false | good |
| Three outside down | false | |
| Dark cloud cover | false | |
| Gravestone doji | false | |
| Hanging man | false | |
| Bearish continuation | valid in down trend | |
| On neck | false | |
| Bullish | Blue | |
| Bearish | Red | |
| Neutral | White |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Candlestick Patterns · Moving Average · ATR · Channels & Envelopes · MT4 Indicator · MQL4 Source Code