Pattern Recognition Master for Japanese Candlesticks
The Japanese candlesticks is a nice tool of trading for any chart-trader. Some Forex traders prefer to trade on the bare charts without adding any indicators. The candlestick patterns are used as the entry and exit symbols in many cases. But it’s not an easy task to constantly recognize those Shooting Stars, various Dojis, Hammers, etc. Pattern Recognition Master is a nice tool to help the chart-traders to automatically recognize candlestick patterns, leaving the traders only with the choices of the actual trading. You can download this MetaTrader indicator from my site for free. It was created by Jason Robinson, Carl Sanders and Hartono Setiono.
When you attach it to your MT4 chart each candle that represents some candlestick pattern will be marked with the symbol. A legend for the symbols is located in the top left corner of the chart and you can easily find out which patter is represented by the specific symbol. Now, all you have to do is to buy after the strong bullish patterns and sell on the strong bearish patterns.
Tags: free, indicators, MT4
December 4th, 2008 at 12:35 pm
Dear,
Thanks for this good effort but would you like to tell me how can i use it as indicator as i do not know the programming so please send me ready indicator not the code as i can not use it
thanks for help
December 4th, 2008 at 1:43 pm
Mostafa,
It’s a ready indicator, just save it to your MetaTrader experts/indicators/ folder, compile with MQL editor and it will be available in your custom indicators menu.
January 26th, 2009 at 8:36 pm
I am impressed. So far this is the best free candlestick pattern indicator I have found. I like how it can recognize has the hammer and Doji patterns. Thank you!
March 16th, 2009 at 1:20 pm
hello
I found this indicator very useful, and wanted to convert to EA. I have try to locate Jason Robinson by his website but its unavailable. Do you have any other way to contact him, as I would like to ask him to write an ea base on this indicator.
Thanks
March 16th, 2009 at 3:06 pm
Architect,
Unfortunately I don’t know the author of this indicator. But I don’t think that it’s hard to turn it into EA if you have some experience in MQL. Just modify its code to send teh orders when some chart patterns are detected.
March 17th, 2009 at 8:22 pm
Hello
what time frame works best with the candlestick pattern indicator?
Thanks
March 17th, 2009 at 8:38 pm
Any timeframe is good for that indicator.
May 3rd, 2009 at 3:56 pm
I could not find the file. It’s only text when I click the download link above.Any help will be appreciated.Thanks.
May 3rd, 2009 at 4:01 pm
Hidayat, actually it’s a mq4 file that you call “only text”. You can save it on your disk and use in MetaTrader. If you are more comfortable with downloading zipped files then you can use this link:
http://www.earnforex.com/mt4_forex_indicators/Pattern_Recognition_Master_v3.zip