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Version: 3.0

Example N1: Non-traded signals generated by candle search

caution

This is not a ready-to-use trading strategy. A trading strategy requires adjustment to the timeframe and symbol, along with thorough backtesting. The example is intended as a foundation for your own custom strategy and to help you get familiar with the Expert Advisor Builder web application. To import and use an example, please follow the instructions provided here.

Description​

This example demonstrates how the candle pattern search engine works without executing actual trades. The module is configured to detect various candlestick patterns and display them as signals on your chart. It monitors 24 different candle formations including Hammer, Doji variations, Engulfing patterns, and Morning/Evening Stars. When any of these patterns appear, the module generates a visual signal but doesn't open positions.

The Data Feedback component is set to analyze detected patterns over 10,000 periods, creating valuable statistics about pattern frequency and distribution. This information helps traders understand which patterns occur most often in their chosen markets. The histogram feature with 100 bins provides detailed analysis of pattern occurrences.

This configuration is perfect for traders who want to study candlestick patterns before implementing them in live trading strategies. By observing how patterns form and their frequency, you can make informed decisions about which patterns to include in your automated trading systems.

Recreate the Example​

You can either import this example directly or set it up manually. To manually replicate the trading module, make sure a newly added module includes the following key settings and that the professional mode is activated:

Trade Basics

  • Operation type = Long signals only drawn
  • General signal visualization = On

Signal Generation - Candle Patterns

  • Signal in use = On
  • Signal used for = Entry
  • Hammer = On
  • Hanging Man = On
  • Bullish Belt Hold = On
  • Bearish Belt Hold = On
  • Bullish Engulfing = On
  • Bearish Engulfing = On
  • Bullish Harami = On
  • Bearish Harami = On
  • Bullish Harami Cross = On
  • Bearish Harami Cross = On
  • Bullish Doji = On
  • Bearish Doji = On
  • Bullish Long Legged Doji = On
  • Bearish Long Legged Doji = On
  • Bullish Gravestone Doji = On
  • Bearish Gravestone Doji = On
  • Bullish Dragonfly Doji = On
  • Bearish Dragonfly Doji = On
  • Dark Cloud Cover = On
  • Piercing Pattern = On
  • Morning Star = On
  • Evening Star = On
  • Bullish Inside Days = On
  • Bearish Inside Days = On
  • Signal visualization = Off

Data Feedback

  • Value analysis = On
  • Value analysis refresh interval = 1000
  • Value analysis news period = 0
  • Value analysis indicator period = 0
  • Value analysis chart analyzer period = 0
  • Value analysis Candle pattern search period = 10000
  • Value analysis Chart pattern search period = 0
  • Value analysis Fibonacci pattern search period = 0
  • Value analysis histogram bins = 100

Screenshots​

Example N1: Non-traded signals generated by candle search.webp