The Pattern Recognition Master Indicator MT4 is a pattern indicator for MetaTrader 4, designed to identify and indicate candlestick patterns on the main chart. It visually marks patterns using letters, making it easier for traders to spot potential opportunities. This indicator identifies major candlestick patterns, including Shooting Star, Hammer, Morning Star, Evening Star, Doji, Engulfing pattern, and more. Moreover, it color-codes letters blue for bullish and red for bearish patterns. In addition, the indicator displays a full list of patterns and their corresponding letters in the top left corner of the chart, providing helpful reference and enhancing ease of use for traders. Importantly, the higher the timeframe where the pattern appears, the more accurate the signal it generates. Finally, the indicator offers customization and extra alert options, further enhancing its value for traders aiming to identify candlestick patterns.
This indicator is suitable for traders of all skill levels and across all time frames. It is designed for use with any currency pair and integrates into any forex trading system or strategy, to identify candlestick patterns.
Indicator Settings
How to Install Pattern Recognition Master Indicator MT4
Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.
