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Pattern Recognition in MetaTrader 5

February 9, 2010 by

Today I’ve updated the Pattern Recognition Master indicator with a new version that works properly in MetaTrader 5. The indicator was rather poorly written in MT4 so I’ve got a lot of room for improvements in the new MT5 version. This indicator will come to use for any Forex trader that utilizes the Japanese candlestick patterns for chart analysis. The functionality of the MT4 and MT5 versions is pretty same but there are certain improvements:

  • Moved pattern definitions in the initialization function from the calculation function — this should makes the indicator work faster.
  • Better structure of code — it will be much easier to add new things to this EA.
  • Proper deinitialization of the indicator.

You can get the code of the MT5 version or read more info about this pattern recognition indicator.

If you find some bugs in this MT5 indicator or want to make a suggestion regarding its functionality or what should be my next MT4->MT5 conversion, please, use the commentary form below.

4 Responses to “Pattern Recognition in MetaTrader 5”

  1. Wendell Wilkins

    This is great but how does this compare to USDBOT?


    Andrei Reply:

    It doesn’t :).


  2. Scoots

    I notice that on 1H charts the bullish ‘Piercing line’ signal is often an ‘Engulfing’ pattern, and that the bullish ‘Engulfing’ abbreviation is not used at all. Is this a coding issue? In any case I have got used to it and think that PRM is brilliant at finding patterns.


    admin Reply:

    Sorry, no idea why. Does it start with H1 timeframe and keeps with H4 and higher ones? Or is the only problematic timeframe H1? Does it work correctly in M30?


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