Is it possible to use an EA to locate certain chart patterns?

Trading Systems Expert Advisors and Automated Trading
1

Hi Guys,

Is it possible to use MT4 to locate certain chart and candle sticks patterns? For example, it would be great to have an alarm tell me that a doji just formed on the AUD/USD 1 hour chart.

Bitters

2

Yes. Pattern recognition is what it is referred to. There are all sorts of things on the mt4 platform out there recognizing certain patterns. I don’t have a specific one to point you to, but the mt4 community website had thousands of different custom indicators and experts to look through.

3

Interesting. Will take a look at it, thanks

4

There is a program called AutoChartist.

My broker provides it, and the data feed for free as part of having a live account.

I don’t use it as it is not part of my trading style, but from my understanding it is one of the better programs of its type.

5

Wow thanks Cyco. They even have an Mt4 plugin. It looks great.