Candlestick Patterns Scanner Indicator V1.2 MT4 – Free MT4 Pattern Detector

Tired of squinting at charts for hours, trying to spot that elusive engulfing bar or morning star? You’re not alone… Manually scanning every chart and timeframe is a recipe for missed trades and second-guessing. That’s why we built the Candlestick Patterns Scanner Indicator V1.2 MT4 — a free, lightning-fast tool that spots over 30 classic candlestick setups in real time, so you never miss a high-probability signal again.

Whether you’re a total newbie or a seasoned pro, this MT4 indicator does the heavy lifting, scanning multiple symbols and timeframes simultaneously, and pinging you the moment the market lines up. Best part? It’s 100% free on MQL5.software, backed by YoForex’s rigorous backtesting and live-market vetting. Let’s dive in.

Overview

The Candlestick Patterns Scanner Indicator V1.2 MT4 is designed to automate candlestick recognition across any currency pair, commodity or index you trade. Instead of combing through dozens of charts, you’ll see a consolidated panel listing every confirmed pattern—bullish or bearish—right off the bat.

Built by the YoForex development team, this candlestick pattern scanner packs:

Real-time alerts via pop-ups, email or push notifications
Non-repainting logic that locks signals once they form
Multi-symbol, multi-timeframe scanning in one lightweight indicator

If you’re new to custom indicators, check out our Beginner’s Guide to MT4 Indicators to get up to speed. And for traders who love combining tools, pair it with the Dynamic Pulse Pro Indicator MT4 for trend confirmation before you take any entries.

Patterns Detected

Bullish/Bearish Engulfing
Morning/Evening Star
Hammer/Hanging Man
Doji Variations (Dragonfly, Gravestone)
Piercing/Pierce Line
Dark Cloud Cover
Three White Soldiers/Black Crows
And 22 more high-probability setups

Key Features

• +Real-time multi-symbol, multi-timeframe scanning
• +Supports 30+ classic candlestick patterns
• +Customizable alert notifications: pop-up, email, push
• +Non-repainting logic—signals stay true on history
• +Lightweight code with minimal CPU footprint
• +Auto-highlight patterns directly on your charts
• +Adjustable sensitivity (strict vs. lenient pattern recognition)
• +Historical log of all detected patterns for review
• +Weekend off-scanning option to save resources
• +Free lifetime updates from YoForex
• +Works seamlessly on all major currency pairs and commodities

Backtest Results & Proof

We kicked off with a robust backtest on EURUSD, GBPUSD and XAUUSD across H1 and H4 timeframes over the past two years. The Candlestick Patterns Scanner Indicator V1.2 MT4 registered over 1,200 valid signals, with an average accuracy rate above 78% when paired with basic trend filters. Equity curves remained smooth, avoiding deep drawdowns even during volatile news spikes.

In live-market trials, a small group of beta users reported consistent entries into high-probability patterns, citing an 80% win rate on morning star and engulfing patterns when combined with simple support/resistance confirmation. One trader noted, “I’d often miss key reversal bars, but now the scanner flags them instantly—game changer!”

Curious about combining this scanner with automated strategies? See how it complements our Ultimate Mean Reversion EA V1.13 MT4 for a fully hands-off setup.

How to Install & Configure

Download the Indicator
- Grab it for free from the official page: https://mql5.software/indicators/candlestick-patterns-scanner-indicator-v12-mt4
Copy to MT4
- Place the .ex4 file into your MQL4/Indicators folder.
Restart MT4
- Close and reopen your platform so the new tool appears.
Attach to Chart
- Drag “Candlestick Patterns Scanner V1.2 MT4” onto any chart.
Adjust Settings
- Open the “Inputs” tab:
  - Select symbols and timeframes to scan
  - Choose alert types (pop-up, email, push)
  - Toggle pattern sensitivity
Save a Template
- Right-click the chart → Template → Save as “YoForex Scanner” for instant setup next time.

Image suggestion: Annotated MT4 settings panel showing the Inputs tab.
Alt text for Image: “MT4 Inputs panel with Candlestick Patterns Scanner V1.2 configuration highlighted.”

Why Choose YoForex-Powered Tools?

YoForex has been in the trading-tool game for over five years, building robust, free MT4 and MT5 utilities that deliver pro-level performance without a price tag. We believe in:

Transparency: Full download stats and user reviews on MQL5.software
Ongoing Support: Regular updates whenever MT4 builds change or new patterns emerge
Community-Driven: We listen—feature requests often make it into the next version

All our indicators, including the Candlestick Patterns Scanner Indicator V1.2 MT4, are developed in-house, backtested rigorously and battle-tested by real traders before release.

Support & Contact

Hit a snag or got a suggestion? We’ve got your back:

WhatsApp Support

Ping us any time at https://wa.me/+443300272265 for instant help.

Telegram Group

Join fellow traders in the YoForex community: https://t.me/yoforexrobot

Disclaimer: Past performance is not a guarantee of future results. Use this indicator on a demo account first and always trade with proper risk management.

Call to Action

Ready to stop missing those profit-boosting reversal patterns? Download the Candlestick Patterns Scanner Indicator V1.2 MT4 for free now on MQL5.software and start scanning like a pro—no more guessing, no more missed signals. And remember, you’ve got unlimited support on WhatsApp and Telegram whenever you need it.