mql5

Existing candlestick analysis methods were analyzed in the previous article. We found out that they are not universal and are not suitable for all conditions. On the contrary, before using them, you should perform additional verification for the specific financial instrument, timeframe etc. I.e. for the conditions in which the patterns will be used.

The specifically designed approach also enables the individual analysis of each pattern for a selected financial instrument or a set of instruments. It also allows finding possible correlations between predefined parameters, including the timeframe or sample range, as well as specially entered metrics, such as frequency of occurrence, probability of movement in a certain direction after the pattern formation.

The analyzing method only concerned 14 patterns selected from a large variety of existing candlestick formations. It is impossible to analyze all the patterns one by one, therefore another solution was found. The key feature of all the patterns examined earlier was their basis, i.e. what they consist of. Four of the analyzed candlestick patterns consisted of one candlestick and ten of them consisted of two candles. The analyzed candlestick patterns consisted of different sets or sequences of six candlestick types.

Table of contents

• Introduction
• Determining the task
• Update of the interface prototype
• Implementation of tools
• Demonstration
• Conclusions

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