Beschreibung
Most candlestick patterns are noise. An engulfing bar in the middle of nowhere tells you very little. Bheurekso Pattern treats every pattern as a candidate and waits for price to prove it.
How a signal fires
A pattern (Engulfing, Penetration Line and ten more) is marked with a dot and a label. It becomes a buy or sell arrow only when, within five bars, one bar reaches the edge of the Donchian channel and the next bar closes back inside it. Most patterns never get that rejection, so most never get an arrow.
What it draws
- A dot and a two-line label on the pattern bar
- A buy or sell arrow once the rejection lands
- An optional Donchian channel
- A dashboard with the last confirmed pattern on your chart timeframe and two higher timeframes you choose (H4 and D1 by default)
Settings worth knowing
- Max bars from pattern to signal (default 5): raise it for more arrows, lower it for tighter ones
- Max bars back (default 100, 0 = the whole history)
- Twelve pattern switches, three on by default
- Trend filter: MA period, method and price
- Donchian period, extremes and margin, or switch the Donchian filter off to see every pattern
- Every label and alert text is editable, with separate colours for bullish and bearish marks
Alerts: popup, sound or email, with separate switches for pattern alerts and buy/sell signals.
Type, markets and timeframes
Chart overlay indicator for price action and candlestick patterns. It works on any symbol and timeframe. H1 to D1 on liquid forex pairs and gold is where the patterns read best; on M1 to M15 you get many more candidates and more noise, so keep the Donchian filter on there.
How traders use it
- As a reversal filter: act only on patterns that come with a failed push through the channel edge
- As confirmation for an entry you already planned from your own levels or trend
- As a watchlist: the dashboard shows at a glance which of three timeframes printed a confirmed pattern and how many bars ago
- As an alert source, so you do not have to watch the chart for the next confirmed setup
Requires no special permissions (AccessRights.None).
This is an analysis tool. It places no trades and makes no profitability claim. Trading involves risk.
