The Price Action Scaner Indicator MT4 is a pattern indicator for MetaTrader 4. It is specifically designed to identify and highlight price action patterns on the main chart. Moreover, it visually marks these patterns using colored rectangles, making it easier for traders to spot potential opportunities. The indicator identifies several common setups, including Double Bar Highs Lower Close (DBHLC), Double Bar Lows Higher Close (DBLHC), Two Bars High, Two Bars Low, Pin Bars, Wide Range Bars, and more. Additionally, traders have full control over the customization features. You can easily adjust the pattern display settings and assign unique colors to each type of pattern for better visual clarity. As a result, this tool becomes a valuable asset for traders aiming to identify price action setups. Therefore, forex traders can leverage these signals to execute trades more effectively.
This indicator is suitable for traders of all skill levels and works effectively across all time frames. Its versatility extends to trading multiple currency pairs within any forex trading system or strategy, helping to identify key price action patterns
Indicator Settings
How to Install Price Action Scaner 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.
