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MT4-Price Action Pro

MT4-Price Action Pro

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The indicator displays the most important Price Action Patterns that indicate a potential reversal / continuation of the trend.

My #1 Utility : includes 65+ functions  | Contact me if you have any questions

Avaliable Patterns:

  1. Pin bar;
  2. Engulfing;
  3. Inside bar (Harami);
  4. Morning star;
  5. Evening star;
  6. Dark Cloud Cover;
  7. Piercing Line;
Features:
  • You can select patterns to display and disable unnecessary patterns;
  • Notifications : alerts in the terminal, Email and Push-notifications (to the mobile device);
  • You can customize each pattern : by default, the indicator uses the recommended parameters. But you can set up the patterns for yourself;

Available filters:

  1. Trend filter (using the moving average);
  2. Higher TimeFrame filter: if enabled, the indicator will use the direction of the higher time frame candle (M5->M15, M30->M30);
  3. The filter of the previous candle: show patterns in accordance with the direction of the candle that closed before the signal.

Inout Settings:

  • Pin Bar, Engulfing, Inside Bar, Morning / Evening Stars, Dark Cloud Cover / Piercing Line : only those patterns that are marked ( true ) will be displayed.
Filters:
  • UseTrendFilter : if ( true ) - filter the current trend: 1)Bearish patterns will be displayed if the value of the fast moving average with ( Filter_FastMA ) period is less than slow moving average with ( Filter_SlowMA ) period; 2)Bullish patterns will be displayed if the value of the fast moving average with ( Filter_FastMA ) period is more than slow moving average with ( Filter_SlowMA ) period.
  • HigherTfFilter : if ( true ) - patterns will be displayed if the last closed candle on the higher time frame coincides with the direction of the signal candle.
  • PrevBarFilter : if ( true ) - patterns will be displayed if the previous closed candle matches the direction of the signal candle;
Notifications:
  • Show Alerts : if ( true ) - you will receive notifications in the trading terminal (Alerts);
  • Email Notifications : if ( true ) - you will receive notifications by Email (additional configuration via Tools>Options>Email is required);
  • Push Notifications : if ( true ) -  you will receive Push notifications on your mobile device (requires configuration via Tools>Options>Notifications);

Pin Bar Configuration:

  • Pin Bar Body : the ratio of the size of the candle's body (Open-Close) vs total size (High-Low): the body of the candle must be less than or equal than the total size multiplied by the specified value; [0.25 means that the body of the pattern must be less than or equal to 25% of the total length of the candle ((High-Low)*0.25)];
  • Shadows : the size ratio of the small shadow( bottom shadow - for bearish patterns, upper shadow - for bullish patterns) compared to the total size (High-Low): small shadow should be less than or equal to the total size multiplied by the specified value; [0.15 means that a small shadow must be less than or equal to 15% percent of the total length of the candle ((High-Low)*0.15)];
Engulfing Patterns Configuration:
  • Engulf Body Over : minimum candle engulfing percentage [1.1 means that the second candle must be greater than or equal to 110% of the first candle];
  • Max Engulfing : the maximum difference in the length of the second candle [2.0 means that the second candle should not be greater than the first candle*2.0];
  • Engulf Shadows : if ( true ): engulf shadows of the first candle;
Inside Bars:
  • Inside Body Less : the size of the inner candle must be smaller than the size of the first candle multiplied by the specified value [0.9 = 90%];
  • Shadow Inside : if ( true ) - candle shadows must be inside the first candle;
Morning Star / Evening Star Patterns:
  • 2nd body : the second candle must be less than or equal to the first candle multiplied by the specified number;
  • 3rd candle : the maximum difference in the length of the third candle compared to the first candle;
  • Gaps : if (true): required gaps between the second candle;

Dark Cloud Cover / Piercing Line Patterns:

  • 2nd candle : the second candle should close below/above the specified level [0.5 = close below the center of the first candle];

Visual Settings:

  • Bullish/Bearish Color: the color of the arrows that will be shown on the chart;