The Chart Pattern Indicator is a tool designed to help traders identify price breakout patterns across multiple currency pairs and timeframes in MT4. This indicator automates the detection of some of the most commonly used chart patterns, eliminating the need for manual scanning.
Features of Chart Patterns Indicator
- Comprehensive Pattern Detection – The indicator can detect various chart patterns, including:
- Head and Shoulders
- Reverse Head and Shoulders
- Rising Wedge
- Falling Wedge
- Triangle
- Double Top
- Double Bottom
- Triple Top
- Triple Bottom
- User-Friendly Dashboard – With a simple glance at the dashboard, traders can immediately see which Chart Patterns have appeared across all assets. The dashboard’s intuitive design makes it easy to use, even for beginners.
- Multi-Timeframe Scanning – The indicator scans all timeframes, from 1-minute to monthly charts, ensuring that traders do not miss any potential breakout movements.
- Quick Access – By clicking on any symbol on the dashboard, the indicator opens the chart for that symbol, highlighting the Chart Pattern for easy analysis.
- Quick Identification – The scanning process is conducted within seconds, providing real-time insights into market conditions.
- Customizable Parameters – Users can specify which currency pairs and timeframes they want the indicator to monitor based on their trading strategy.
This Chart Patterns Indicator isn’t a standalone trading indicator System. Still, it can be very useful for your trading as additional chart analysis, to find trade exit position(TP/SL), and more. While traders of all experience levels can use this system, practicing trading on an MT4 demo account can be beneficial until you become consistent and confident enough to go live. You can open a real or demo trading account with most Forex brokers.
Chart Pattern Indicator is straightforward. Even a complete beginner can start trading and making profits with this system. You can set it to send you a signal alert via mobile notification, platform pop-ups, and email. This is helpful because it means you do not need to stare at the charts all day, waiting for signals to appear, and you can monitor multiple charts simultaneously.
Benefits
- Saves Time – The automated scanning feature removes the need for manual chart analysis.
- Supports Multiple Markets – Works on currency pairs, indices, stocks, futures, and gold, as long as they are available in MT4.
- Real-Time Alerts – Traders receive timely notifications about emerging breakout patterns, facilitating informed decision-making.
 | Latency: 0.46 ms 2 Weeks Free Trial 100% Free for 24 Months | Licensed Window Server 2022 |
 | Low Spreads No Commission | Free TradingView Premium* Recommended for European Users |
 | Min Deposit of 50$ |
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How Chart Pattern Indicator Works
- Chart Navigation – By clicking a symbol on the dashboard, traders can open the respective chart where the detected pattern is highlighted, making analysis easier and quicker.
- Scanning for Patterns – The Chart Pattern indicator continuously scans all selected currency pairs and timeframes for breakout patterns.
- Displaying the Dashboard – Once a pattern is detected, it is displayed on the dashboard along with key details, including the direction (bullish or bearish) for most patterns. The Triangle pattern, however, does not have a fixed direction, as breakouts can occur on either side.
- Sorting and Filtering Options – Traders can sort the detected patterns based on Symbol, Timeframe, Direction, Pattern Type, or Age.
- Read More – How to Trade Chart Patterns?
If the indicator shows an “array out of range” error, try changing the symbols in the input parameters.
- Read More MT4 Day Trading Indicator FREE Download
Conclusion
The Chart Pattern Indicator provides traders with an automated way to identify high-probability breakout patterns across multiple markets and timeframes. While it simplifies the pattern detection process, traders should still apply their own analysis and risk management strategies before making trading decisions.
