Pattern Recognition Master MetaTrader indicator — the sort of indicator that assists you with the routine work, marking the candlesticks regarding the chart aided by the names of the corresponding habits (like doji or shooting star) where relevant. All you need to do is just to look if this chart pattern is bullish or bearish, check out the general trend and decide your trading stance.
It is possible to refer to the a number of Japanese candlestick habits to quickly discover the alert value of the recognized pattern. This indicator can be acquired for both MT4 and MT5 variations of the working platform.
Input parameters:
Show_Alert (standard = true) — if set to true, shows the alerts whenever certain pattern is detected.
UseExtraDigit (default = false) — set it to real if your broker utilizes extra digit (pip) in the quotes.
Other parameters — turn on and off display of various habits. It's not advised to alter them.
First, you ought to recognize that this indicator just shows the pattren. You see the symbols close to the candlesticks and also you see the legend for the symbols within the upper remaining corner of the screen. 2nd, you have to know how these patterns work when one signals for quick place and signals for very long. For the experienced Japanese candlestick pattren traders it is a really helpful tool, for other traders — it might show useless.
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