ExCandles2 – indicator MetaTrader 5

Real author:

Executer

ExCandles-v2 indicator shows candlesticks combinations on a chart using the arrows. This indicator is the enhanced version of ExCandles.

Indicator input parameters:

• ExPeriod – the number of bars used for a trend filtration;
• TrendFilter – filter operation on/off;
• how_bars – number of the bars, at which the calculation is performed (all bars in case of 0).
• UpSymbol – the index of the symbol pointing to an uptrend;
• DnSymbol – the index of the symbol pointing to a downtrend;
• VertShift – vertical shift of symbols from the candlesticks in points.
  

Supported candlestick patterns:

1. Shooting star
2. Inverted hammer
3. Hanging man
4. Hammer
5. Bearish Engulfing
6. Bullish Engulfing
7. Dark Cloud Cover
8. Piercing Line
9. Evening Star
10. Morning Star
11. Evening Doji Star
12. Morning Doji Star
    

In case someone wonders why almost all combinations are set as Bullish and Bearish Engulfing, I can say that this combinations are the most common ones, there is no any mistake here.

This indicator was first implemented in MQL4 and published in Code Base at mql4.com 15.01.2007.