Japanese Candlestick Patterns Pro for MT5 User Guide and Indicator Settings 1. Indicator purpose Japanese Candlestick Patterns Pro for MT5 is a custom MetaTrader 5 indicator designed to automatically detect classic Japanese candlestick patterns directly on the chart. The indicator displays detected patterns as text labels, bullish and bearish arrows, and a summary table showing the current signals on the last closed candle. It also includes optional trend, volume, candle body, range, and shadow filters. The indicator can be used on Forex, cryptocurrencies, stocks, indices, commodities, and other instruments available in MetaTrader 5. 2. Installation 1. Open MetaTrader 5. 2. Go to File -> Open Data Folder. 3. Open the MQL5 -> Indicators folder. 4. Copy the indicator file into this folder. 5. Restart MetaTrader 5 or refresh the Indicators list in the Navigator window. 6. Find Japanese Candlestick Patterns Pro for MT5 under Indicators. 7. Drag the indicator onto the desired chart. 3. How the indicator works The indicator analyzes chart candles and detects popular Japanese candlestick formations. When a bullish pattern is found, the indicator can display an upward arrow and a text label. When a bearish pattern is found, it can display a downward arrow and the corresponding label. Signals are calculated using closed candles. Alerts are generated from the last closed candle, which helps reduce false signals caused by changes in the currently forming candle. 4. Detected candlestick patterns The indicator detects the following patterns: - Bullish Engulfing - Bearish Engulfing - Bullish Harami - Bearish Harami - Hammer - Hanging Man - Inverted Hammer - Shooting Star - Morning Star - Evening Star - Piercing Line - Dark Cloud Cover - Three White Soldiers - Three Black Crows - Three Inside Up - Three Inside Down - Three Outside Up - Three Outside Down 5. Main settings AvgPeriod The period used to calculate the average candle body size. A higher value produces a smoother average body calculation. Default value: 10. UseATR Reserved parameter for ATR usage. In the current logic, the main filtering is based on body size, candle range, shadows, trend, and volume. ATRPeriod ATR period. This setting is available for possible volatility-based filtering. Default value: 14. MinBodyPricePercent Minimum candle body size as a percentage of the closing price for defining a long candle. A higher value makes the filter stricter. MinBodyRangePercent Minimum candle body share relative to the full candle range. This is used to identify strong candles with large bodies. MinBodyAvgPercent Minimum candle body size relative to the average body over AvgPeriod. A higher value means fewer candles will qualify as long candles. MaxShortBodyPercent Maximum candle body size relative to the candle range for defining a short candle. This is used in patterns such as Morning Star and Evening Star. MaxDojiBodyRange Parameter for limiting the doji body size relative to the candle range. It can be used for further adjustment of short-candle logic. MaxBodyShadowRatio Parameter for body-to-shadow ratio adjustment. It can be used when adapting the logic to different markets. MinShadowBodyRatio Minimum shadow-to-body ratio for patterns such as Hammer, Hanging Man, Inverted Hammer, and Shooting Star. A higher value requires a longer shadow. 6. Filters UseTrendFilter Enables or disables the trend filter. When enabled, bullish reversal patterns are mainly detected after downward movement, while bearish reversal patterns are mainly detected after upward movement. MAType Moving average type used for trend filtering. Available values: - SMA — Simple Moving Average - EMA — Exponential Moving Average TrendMAPeriod Moving average period used to determine trend direction. Default value: 50. UseVolumeFilter Enables or disables the volume filter. When enabled, signals must be confirmed by increased volume. VolumeThreshold Volume threshold as a percentage of average volume. For example, a value of 120 means that the current volume must be 20% above the average volume. 7. Chart display settings ShowLabels Enables or disables text labels with pattern names on the chart. ShowTable Enables or disables the summary table. ShowMA Parameter for moving average display. In the current version, the MA is used in the trend filter logic, while visual MA line display may require separate implementation. ShowSignalArrows Enables or disables bullish and bearish signal arrows. MaxBarsToDraw Maximum number of bars on which the indicator will draw labels and signals. Reducing this value may improve performance. BullColor Color of bullish pattern labels. BearColor Color of bearish pattern labels. NeutralColor Color of neutral or context-dependent patterns, such as Hammer or Inverted Hammer. 8. Enabling or disabling individual pattern groups ShowEngulfing Enables or disables Bullish Engulfing and Bearish Engulfing patterns. ShowHarami Enables or disables Bullish Harami and Bearish Harami patterns. ShowHammer Enables or disables Hammer, Hanging Man, Inverted Hammer, and Shooting Star. ShowStar Enables or disables Morning Star and Evening Star. ShowPiercing Enables or disables Piercing Line and Dark Cloud Cover. ShowSoldiers Enables or disables Three White Soldiers and Three Black Crows. ShowInsideDays Enables or disables Three Inside Up and Three Inside Down. ShowOutsideDays Enables or disables Three Outside Up and Three Outside Down. 9. Table settings TableCorner Chart corner where the summary table is displayed. TableX Horizontal offset from the selected chart corner. TableY Vertical offset from the selected chart corner. TableRowHeight Table row height. TableColPatternWidth Width of the pattern-name column. TableColBullWidth Width of the bullish-signal column. TableColBearWidth Width of the bearish-signal column. TableFontSize Table font size. 10. Alerts and notifications EnableTerminalAlerts Enables pop-up alerts in the MetaTrader 5 terminal when a new signal appears on a closed candle. EnablePushAlerts Enables push notifications to the MetaTrader 5 mobile application. To use push notifications, configure your MetaQuotes ID in the terminal first: Tools -> Options -> Notifications. 11. Usage recommendations Use the indicator as a technical analysis tool, not as a standalone trading system. Candlestick patterns usually work better when supported by additional confirmation. It is recommended to consider: - main trend direction; - support and resistance levels; - market structure; - liquidity zones; - instrument volatility; - volume conditions; - higher timeframes; - risk-to-reward ratio. For more conservative trading, enable the trend filter and volume filter. For more frequent signals, disable some filters or reduce the body and shadow requirements. 12. Example settings for stricter signals UseTrendFilter = true TrendMAPeriod = 50 or 100 MAType = EMA UseVolumeFilter = true VolumeThreshold = 120 or higher MinBodyAvgPercent = 150 or higher MaxBarsToDraw = 500-1000 This configuration may reduce the number of signals but make them more selective. 13. Example settings for more frequent signals UseTrendFilter = false UseVolumeFilter = false MinBodyAvgPercent = 100-120 MinShadowBodyRatio = 150-200 MaxShortBodyPercent = 30-40 This configuration will produce more signals, but it will require more careful manual filtering. 14. Important risk notice The indicator does not guarantee profit and does not predict the market. Candlestick patterns only show possible changes in the balance between buyers and sellers. Before using the indicator on a live account, test it on historical data and on a demo account. Always use risk management, stop-loss protection, and reasonable position sizing.