Ultimate Pattern Builder (create any candlestick pattern)

Hi, my name is Niko and i would like to present you special candlestick creating tool, which allows you to build up to three candlestick pattern of any kind.

https://www.mql5.com/en/market/product/50437

Reason that i made this software is that i dont like limitations, and every indicator i ever tried regarding candlestick patterns, had already prebuilt patterns with little options to adjust them. So i hired programmer and after 15 months i finnaly have fully package of indicator, scanner and expret advisor which allows you to test any pattern in many ways.

You are very welcome to try indicator, and ea in strategy tester, and if you like it, you can buy it to support me, because i want to create and add tool for creating trends and snr as well. If you do have programming skills, we can work together.

So lets start with indicator and its building mechanism.

Case A (points system)

First step is to choose candle direction, BULLISH or BEARISH

Every candle is split into three parts:

 

1. BODY,
2. upper WICK,
3. lower WICK.

Every part is described in points, so we can simply decide how many points will be each part of the candlestick worth.

Image above shows basic principle of building candle, BUT such way would be very impractical, simply because patterns are basically just different shapes, and never such exact to 1 point value. Since there can be thousands of different combinations with wicks and body, you would miss almost every pattern with such tight setting.

So i made next solution and added three different options for every part of candle:

1. GREATER
2. LESS
3. BETWEEN

You can choose any of those three options

Image shows actual options to build candle.

1. Greater means equal or more of inserted value (there is no limit above that value)
2. Less means equal or less of inserted value (limit below that value is 0)
3. Between means from less to greater inserted value (minimal to maximal value)

And that is first part of my presentation. For more details, please check video below or read pdf.

Please comment, do you like it, do you have better idea, want to add something?
https://www.mql5.com/en/market/product/50437

Next time: case B (percentage system)

Hello again. Last time i introduced you my software for building patterns and its mechanism for using POINTS.
https://www.mql5.com/en/market/product/50437

Today its time for second part of building mechanism, and that is PERCENTAGE system (case B). This system is in many ways much more useful than case A. It allows you to precisely built any shape, and use it for any time frame and currency pair.

Case B (percentage system)

Comparison value for wicks and body is the same as for case A (greater, less, between).

First step is to choose body comparison, POINTS or AVERAGE

1. Points: same as for case A, determine how many points will be first body value
2. Average: compare first body value to average value of past candlesticks

Image above explains how Average principe works. You simply choose how many candlesticks in the past (before first candle in the pattern) is taken for average calculation. Average is calculated from average true range (difference between high and low) of every candle in the average selection.

Important to know: AVERAGE value comparison can be used for every part of pattern (every wick and body of all three candles).

Comparison:

1. body 1 (average/points)
2. upper wick 1 (average/body 1)
3. lower wick 1 (average/body 1)
4. body 2 (average/body1)
5. upper wick 2 (average /body 1/body 2)
6. lower wicks 2 (average/body 1/body 2)
7. body 3 (average/body 1/body 2)
8. upper wick 3 (average/body 1/body 2/body 3)
9. lower wick (average/body 1/body 2/body 3)

Visual explanation of comparison options.

And lastly, how percentage works:

 

1. greater than 1 = equal or more than 100% of chosen comparison
2. less than 0,5 = equal or less than 50% of chosen comparison
3. between 0,2 and 0,4 = from 20% to 40% of chosen comparison

And that is the key that you can have same (similar) shape among every time frame and currency pair. First you have Average (which is different for any tf/pair), then you have percentage comparison (which allows you to precisely built pattern and to achieve same shape for any volatility).

Please comment, do you like it, do you have better idea, want to add something?
https://www.mql5.com/en/market/product/50437

Next time: Expert Advisor

Hello. Last time i introduced you second part of ultimate pattern builder building mechanism.
https://www.mql5.com/en/market/product/50437

Today its time for next step and that is Expert Advisor. This system enables you to test trades or auto trade them. For testing part i will make separate post, but here i will focus on expert advisor settings.

Entry

First of the settings for trading scenario is entry position

1. BUY/SELL immediately after pattern is detected
2. BUY STOP/SELL STOP is positioned away from ending point of pattern (inner, outer, point size)
3. BUY LIMIT/SELL LIMIT is positioned away from ending point of pattern (inner, outer, point size)

Images above shows you how inner, outer and point size works. Time for next setting.

Lot size

Next setting is for lot size

1. Fixed lot size, its the same as for manual entries, just insert lot size value that will apply for each trade
2. Auto lot size, based on stop loss percentage risk. Lot size is automatically calculated with combinations of percentage risk of stop loss (1 = 100%) and stop loss position (next setting)

Stop loss

Next setting is for stop loss position

1. Inner, same logic as for entry
2. Outer, same logic as for entry
3. Point, same logic as for entry
4. Percentage risk. This can be used if you choose fixed lot size, and its the same logic as for auto lot size percentage risk of stop loss value

Take profit

Last setting for EA trading scenario

1. Inner, same logic as for entry
2. Outer, same logic as for entry
3. Point, same logic as for entry
4. Percentage risk. This can be used if you choose fixed lot size, and its the same logic as for auto lot size percentage risk of stop loss value
5. Risk&Reward ratio. Whatever stop loss value is, it is multiplied with this setting (1=100% of stop loss)

And that is it for basic Expert advisor settings.
https://www.mql5.com/en/market/product/52303

Next time: Scanner

Last entry in this thread is for Scanner.
https://www.mql5.com/en/market/product/52306

If indicator is for training purpose, expert advisor for auto trading and testing strategy, scanner is for detecting patterns in real time on multi time frame and charts that allows you real time manual trading.


Main scanning feature:

1. Multi currency pair: Choose which pairs from your symbol list you want to simultaneously scan. You can enable to have all 28 default forex pairs, or add them 1 by 1, you can add any other trading entity from the list (gold, oil, crypto indices...)
2. Multi time frame: Choose which time frame you want to scan at the same time, you can choose between primary 8 time frames, add them all or 1 by 1. Everything is scanned instantly

Graphic user interface:

1. Panel: On the chart, where you drag your scanner and confirm settings, you will see panel with symbols and time frames you chose. Whenever there is new signal (pattern) detected in live, number with signal will appear on that panel. Signal #1 for first candle in the pattern, signal 2# for second, and signal #3 for third. You cant have case A and case B at the same time
2. Log of messages: beside panel there can be displayed log of messages for every new signal.
3. Alarm: upon signal arrival you can get separately window with alarms, and you can scroll it to the bottom to see oldest signals
4. Email alarming: for every detected pattern, you can get email
5. Push notification: if you are using mobile metatrader you can connect it to your desktop metatrader and get notifications for alarms to your mobile phone/tablet...

That is what can you see on screen of your metatrader terminal.

And we reached the end of this brief introduction to the ultimate builder software
https://www.mql5.com/en/market/product/52306