Description
Candlestick Pattern S&R is a non-repainting pattern scanner for MetaTrader 4 that recognises 13 classic candlestick reversal formations — engulfing, hammer, shooting star, doji variants and more — and confirms each against a 5-period EMA slope so patterns are only flagged when they appear at a sensible spot in the trend. For every valid signal it draws a label naming the pattern, an arrow on the signal bar, and a horizontal invalidation line at the pattern extreme, which doubles as an immediate support or resistance level. If price later closes through that line the signal is marked invalid (recoloured or removed), giving you a built-in, objective rule for when a setup has failed. Patterns confirm on closed bars only. Labels, arrows, lines and history depth are all adjustable. Free MT4 (.mq4) source included. Educational tool, not financial advice.
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