Forex TR Breakout Patterns Scanner MT4 Indicator:
About the Forex TR Breakout Patterns Scanner MT4 Indicator
This price action indicator automates the detection of trend breakout patterns and retest breakout patterns. It generates trade signal with analytical entry, stop loss (SL) and take profit levels (TP1, TP2 and TP3).
The chart pattern recognition is based on a pure price action proprietary algorithm that analyses raw market data.
- Notifies through sound alert, push notification and email when signal is detected and the stop loss and profit levels are reached.
- It can be applied to any financial market (currencies, cryptocurrencies, stocks, indices, commodities and bonds) instruments and time frames.
- It can be set to only detect high probability chart patterns and also can be used to generate high take profit to stop loss pips trade signals.
- Does not repaint. Trade signal is not deleted after entry breakout, so that real-time monitoring/trading can be effective.
- It is suitable for professional and novice traders because it eliminates the time, energy and skill needed for price action trade signal analysis.
- Backtest directly on the chart (for the selected timeframe on the Strategy Tester).
- Screenshots can be automatically taken and saved to your PC.
- It provides clean and simple chart pattern display that can easily be monitored/traded profitably.
- Search for only Patterns with the minimum Quality % (0-100)
- Search for only Patterns with the minimum Strength % (0-100)
- Detect Patterns only after its Breakout
- Search for only Signal that does not Span over Weekend – Applies to only M1, M5, M15, M30 and H1 timeframes, to avoid scanning the weekend market data because of the accuracy that may be needed on these timeframes
- Minimum Number of Bars to Scan – the minimum number of history bars that will always be scanned. Note that the higher the value, the more the available system resources that will be consumed; too high value may affect the performance of MetaTrader 4
- Search for Bullish Patterns
- Search for Bearish Patterns
- Search for Trend – search for trend breakout patterns
- Search for Retest – search for retest breakout patterns
- Scan M1
- Scan M5
- Scan M15
- Scan M30
- Scan H1
- Scan H4
- Scan D1
- Scan W1
- Scan MN
- Enable Scanning of other Timeframe(s) after New Detection
- Show Level Description
- Add Notification Tag (maximum of 15 characters) – add customized tag to notifications
- Enable Pop-up Notification
- Enable Push Notification to Mobile Device – go to Tools → Options → Notifications, ensure that “Enable Push Notification” is checked and fill out the MetaQuotes ID(MQID) of the mobile MetaTrader 4 terminal (available in the section Settings → Messages) installed on your mobile device iPhone or Android to receive signal notifications directly on your device
- Enable Email Notification – go to Tools → Options → Email, ensure that “Enable” is checked and fill out all the required fields for your E-Mail provider
- Always Show the Chart of a Notification
- Take Screenshot – screenshots will be saved to: MQL4/tester → Files → Trend Breakout Patterns Scanner (in the terminal menu select to view: File → Open Data Folder)
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)