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Bheurekso Pattern

The Bheurekso Pattern indicator for MT4 detects trend reversal/continuation candlestick patterns. Use the Bheurekso Pattern indicator to identify potential Forex trade setups and take yourself to the next level of success. Try now! Download for free!

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Description

The Bheurekso Pattern indicator for MT4 is a candlestick pattern detector highlighting various candlestick patterns on the chart. It identifies mainly the candlestick patterns that suggest trend reversals and continuation signals for potential buying or selling opportunities.

Therefore, the indicator assists traders in identifying trend reversal/continuation trading opportunities based on candlestick patterns. Thus, it is an easy-to-use trading tool suitable for beginners and experienced Forex trades. The indicator makes it less hassle to spot trading opportunities without manual technical analysis.

Moreover, it is worth noting that the indicator delivers optimal signals at the higher time frames of H4 and D1. So, it is recommended for day and swing traders.

Features of the Bheurekso Pattern Indicator for MT4

The indicator was designed to automatically scan the historical and current price data in the Forex market for candlestick patterns that suggest trend reversal/continuation. It identifies candlestick patterns like the bullish/bearish engulfing, bullish hammer, bullish/bearish harami, etc.

The indicator plots a horizontal line on the chart at the level of the identified candlestick pattern. The horizontal lines also indicate potential support and resistance zones for price reversal.  Additionally, it displays buy/sell arrows, which indicate buying or selling signals for a trend reversal/continuation pattern.

Furthermore, the indicator comes with a functional alert system that notifies traders of buying and selling opportunities in the market.

Benefits of Using the Indicator

  • Beginner-Friendly: The Bheurekso Pattern indicator for MT4 is one of the best pattern recognition indicators for beginner traders because it displays buy/sell entry signals. This improves accuracy for beginners, which can enhance profitability over time.
  • Versatility: The indicator can be used as a stand-alone tool for trading decisions or as a confluence with price action/other technical indicators.

Indicator Description Settings

The indicator comes with the following customizable settings:

Draw lines: Enables/Disables the display of horizontal lines on identified candlestick patterns.

Depth of history view: Determines the depth of historical data for analysis.

Delete and build lines every time: Enables/Disables the indicator to refresh and redraw new lines.

All alerts enable: Enables/Disables the indicator’s alert system.

Bullish Harami: Enables/Disables detection of Bullish Harami candlestick pattern.

Bullish Engulfing: Enables/Disables detection of Bullish Engulfing candlestick patterns.

Bullish Piercing line: Enables/Disables detection of Bullish Piercing line candlestick pattern.

Bullish Morning Star: Enables/Disables detection of Morning Star candlestick pattern.

Bullish Hammer: Enables/Disables detection of Bullish Hammer candlestick pattern.

Bear Harami: Enables/Disables detection of Bearish Harami candlestick pattern.

Bearish Piercing line: Enables/Disables detection of Bearish Piercing line candlestick pattern.

Bear Hanging Man: Enables/Disables detection of Bear Hanging Man candlestick pattern.

Bear Engulfing: Enables/Disables detection of Bear Engulfing candlestick pattern.

Bear Dark Cloud Cover: Enables/Disables detection of Bear Dark Cloud Cover candlestick pattern.

Bear Evening star: Enables/Disables detection of Bearish Evening candlestick pattern.

Bear Shooting Star: Enables/Disables detection of Bearish Shooting Star candlestick pattern.

Color Lines and Text: Determines the color for lines and text of detected patterns.

Color BUY: Determines the color for BUY signals.

Color SELL: Determines the color for SELL signals.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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