Tuesday, February 16, 2010

Pattern Recognition in MetaTrader 5

Today I’ve updated the Pattern Recognition Master indicator with a new version that works properly in MetaTrader 5. The indicator was rather poorly written in MT4 so I’ve got a lot of room for improvements in the new MT5 version. This indicator will come to use for any Forex trader that utilizes the Japanese candlestick patterns for chart analysis. The functionality of the MT4 and MT5 versions is pretty same but there are certain improvements:

  • Moved pattern definitions in the initialization function from the calculation function — this should makes the indicator work faster.
  • Better structure of code — it will be much easier to add new things to this EA.
  • Proper deinitialization of the indicator.

You can get the code of the MT5 version or read more info about this pattern recognition indicator.

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