The Bheurekso Pattern Indicator for MT5 helps traders automatically identify candlestick pattern that formed on the chart base on some japanese candle pattern and other indicator to improve accurate. This indicator scans all candles, recognizes and then displays any candle patterns formed on the chart. The candle displayed can be Bullish or Bearish Engulfing, Bullish or Bearish Harami, and so on. There are some free version now but almost that is repaint and lack off alert function. With this version I solve all problem and add option to choose what pattern should show.
Version 2.0:
+ add dashboard for multi timeframe
+ add confirm signal by Donchian channel
This indicator is especially effective on large frames (h4-img1-xauusd, D1-img2-xauusd)
Setup Strategy
Time frame 15 min or higher. Best time frame H4 daily and weekly. The indicator has been shown to perform better at high time frames
Currency pairs:any.
Metatrader 5 indicators:
Candle time
Support an resistance indicator
Bheurekso Pattern
Moving average
Trend line
Stochastic Oscillator MTF (10,3,3)
Pallada Assistant
Currency Strength
Trading rules Trades only in the direction of the trend.
Buy
Bheurekso Pattern buy signal.
Price above MA green color.
Stochastic oscillator MTF a time frame more higher crosses upward.
Pallada Assistant must agree.
Tren line below the candles (optional).
Price above level of support (optional).
Sell
Bheurekso Pattern sell signal.
Price below MA red color.
Stochastic oscillator MTF a time frame more higher crosses upward.
Pallada Assistant must agree.
Tren line above the candles (optional).
Price below level of resistance (optional).
If there is a buy or sell pattern signal but the average has not yet crossed, or the average is expected to change direction, or if the stochastic has already crossed, you can enter a position.
Exit position
Place initial stop loss below/above the previous swing high/low..
Profit target ratio stop loss minimum 1:1 before level of support or resistance.
