Pattern Recognition is a MetaTrader 4 indicator designed for traders who rely on candlestick patterns in their forex analysis and trading decisions.
Analyzing candle formations directly on the price chart, the Pattern Recognition indicator automatically identifies and highlights major technical analysis patterns — including “Head and Shoulders”, “Harami”, “Morning Star”, “Doji”, and many others.
ForTraders.org Comment: Pattern Recognition is a valuable tool for visual technical analysis using price action patterns. A red label with downward arrow signals a bearish pattern; a blue label with upward arrow indicates a bullish pattern.
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FAQ
What candlestick patterns does Pattern Recognition detect?
It identifies over 20 classic patterns including Doji, Hammer, Engulfing, Harami, Morning/Evening Star, Head and Shoulders, and more.
Does it work on all timeframes and symbols?
Yes — it’s compatible with any timeframe (M1 to MN1) and all forex pairs, indices, and commodities supported by MT4.
How do I interpret the signals?
Bullish patterns appear as blue labels with upward arrows; bearish patterns show as red labels with downward arrows — both placed directly on the relevant candle.
