Home Forex Service Review Candlestick Patterns All Pairs Indicator Review

Candlestick Patterns All Pairs Indicator Review

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Candlestick Patterns All Pair is an indicator developed for automatic pattern recognition and plotting them on the MetaTrader 4 chart. The tool belongs to the paid category on the MQL5 market and is developed by Denis Luchinkin from Russia. He has over 20 published products but without notable popularity or ratings. This tool is published on the 23rd of March 2017 and has not been updated since. The candle patterns are used as predictive signals and could be reversal, trend, and sometimes scalp strategy elements.

Overview

This tool has a single purpose and this is the automatic plotting so you do not have to search for the pattern. 29 patterns are included in the database for recognition applicable to all forex currency pairs and timeframes. Notable features are the 5 additional settings for instruments, plots an arrow so you will know if the pattern is bearish or bullish, each pattern can be disabled if you consider it unreliable and has a handy table which shows the last patterns on all 28 major currency pairs and timeframes. This way the table will show traders what are the latest opportunities and possible Price Action movements. If you want to hide the table it is done with a click of a button.

The tool is simple and does the job well, the patterns are correct and precise. If you want to search more history you can set the candle values in the settings. Timeframes can also be turned off or on so you can have only 1H and 4H timeframes available, for example. Some visual settings are also optional like the text size, color, and so on. The patterns included are mostly common and considered as reliable although some may be missing such as Double through, still, some of them may be visible only on higher timeframes. The database contains Advance Bloc, Belt Hold Line, Counterattack Lines, and others that are not that used, then the Dark Cloud Cover, Doji, Engulfing, Evening Star, Gap, hanging Man, and Hammer which are commonly used.

Others patterns are Gravestone Doji, Harami, Inverted Hammer, Long Legged Doji, Mat Hold Pattern, Morning Star, NeckLine, Piercing, Separating Lines, Shooting Star, Side By Side, Stalled Pattern, Tasuki Gap, Three Crows, Three Line Strike, Three Methods, Three White Soldiers, Tweezer, and Upside Gap Two Crows. Once you pull in the indicator you will see the pattern and the name with the accompanying arrow depending if the pattern is bullish or bearish. The “Ago” column in the table shows how many candles have passed since the pattern appeared.

Service Cost

The price for the Candlestick Patterns All Pair tool is $25 to buy for 100 activations or $10 for a 3-month rental. A demo is available as the MT4 automatic install if you are registered in the MQL5 market.

Conclusion

The ratings are absent and a few comments are suggesting this tool is not popular. In the comments we have noted several users asking for alerts and other updates but the official update has not been released since. So, the developer may have abandoned this tool. If you are a fan of patterns, you could find other indicators such as this one for automatic plotting for free, although the price of $25 is not too much. Since the demo is offered, you will know if Candlestick Patterns All Pair works.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/21853

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