CandleStick Patterns Indicator for MT5 — Professional Pattern Scanner
Bring proven candlestick analysis into your workflow. This indicator automatically scans your chart and highlights high-quality reversal and continuation patterns, so you can react faster and with more confidence.
Check the “More from author” section on the Market page to see our full suite of indicators.
What it does
Scans historical and live candles from a user-defined lookback range.
Detects and labels major single- and multi-candle patterns with on-chart arrows and tooltips.
Sends alerts (terminal, push, email) the moment a valid pattern appears.
Includes a lightweight tester panel for quick parameter optimization.
Detectable Patterns
Doji (size filter)
Hammer, Inverted Hammer, Hanging Man, Shooting Star
Bullish/Bearish Engulfing
Bullish/Bearish Harami
Morning Star, Evening Star
Piercing Line, Dark Cloud Cover
Bullish Belt, Bullish Kicker, Bearish Kicker
Inputs & Settings
General
Candles to Consider (Lookback) – number of bars to scan.
Doji Size – max body-to-range ratio to qualify as doji.
Pattern Toggles
3. Show Doji
4. Show Evening Star
5. Show Morning Star
6. Show Hammer
7. Show Shooting Star
8. Show Inverted Hammer
9. Show Bearish Harami
10. Show Bullish Harami
11. Show Bearish Engulfing
12. Show Bullish Engulfing
13. Show Piercing Line
14. Show Bullish Belt
15. Show Bullish Kicker
16. Show Bearish Kicker
17. Show Hanging Man
18. Show Dark Cloud Cover
Alerts & Tester
Enable Alerts (on-screen / sound / push / email)
Alert Once per Bar / per Pattern
Tester Parameters (date range, visual labels, report filters)
How it works
The indicator iterates through the last N candles (your lookback) and applies robust, textbook criteria for each enabled pattern. When a match is found, it draws an arrow at the signal bar and optionally prints a short label (pattern name). Alerts can be triggered immediately or on bar close, depending on MT5 settings.
Benefits
Clarity at a glance – auto-labels patterns you would otherwise scan manually.
Fewer missed setups – push/email alerts for your favorite patterns.
Customizable strictness – fine-tune doji size and enable only the patterns you trust.
Strategy-agnostic – use it for confirmations with trend, S/R, SMC, or volume tools.
Timeframe & symbol agnostic – works on FX, indices, commodities, crypto, and stocks in MT5.
Best Practices
Combine with trend filters (MA slope, structure, higher-TF bias) to improve selectivity.
Use S/R or supply–demand zones to prioritize higher-probability signals.
Prefer signals that align with session volatility and market context.
In Strategy Tester, adjust lookback and alert rules to match your trading style.
Compatibility
Platform: MetaTrader 5 (MT5)
Markets: Forex, indices, commodities, crypto, stocks (any symbol your broker provides)
Trading styles: position trading – swing trading – day trading – scalping
Timeframes: All
Notes
This tool is for educational and analytical purposes. It does not guarantee profits. Always validate signals with your own risk management.
