Enhanced Harami Pattern Indicator with MA, RSI, and MACD Filters
Info
The Enhanced Harami Pattern Indicator with MA, RSI, and MACD Filters is a Indicator for MetaTrader 4 that this indicator enhances the harami candlestick pattern by incorporating additional filters for trend direction analysis. The results demonstrate convincing trend identification capabilities.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Enhanced Harami Pattern Indicator with MA, RSI, and MACD Filters
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This indicator enhances the Harami candlestick pattern by incorporating additional filters for trend direction analysis.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: Chandelier Exit for MT4: A Precise Port with Enhanced Signal Statistics - another powerful indicator for MetaTrader 4 traders.
This indicator enhances the Harami candlestick pattern by incorporating additional filters for trend direction analysis. The results demonstrate convincing trend identification capabilities.Also recommended: awesome signal - enhanced trading indicator - similar indicator with strong performance on MetaTrader 4.
The default settings focus exclusively on the Harami pattern.
Moving Average (MA), Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD) filters are available for experimental use.
All filters can be utilized independently or in combination.
Optimal performance is often achieved when each filter is used according to its specific strengths.
Supported Timeframes: All
Input Parameters:
barstoprocess
=5000 - Defines the number of chart periods to analyze. For a M15 chart, 200 periods (approximately one day) should be sufficient.
alert_on
- Enables alerts to be displayed on the screen.
ma_filter
=false - Setting to false deactivates the MA filters. Setting to true activates the MA filters.
rsi_filter
=false - Setting to false deactivates the RSI filters. Setting to true activates the RSI filters.
macd_filter
=false - Setting to false deactivates the MACD filters. Setting to true activates the MACD filters.
one_candle_before
=false - Setting to false excludes the candle preceding the pattern from analysis. Setting to true includes the preceding candle, requiring it to have the same direction as the first candle of the Harami pattern.
trend_ma
=12 - Period for the Moving Average.
ma_shift
=0 - Shift for the Moving Average.
ma_mode
=exponential - Mode for the Moving Average calculation (e.g., exponential, simple).
ma_price
=high price - Price source for the Moving Average (e.g., high, low, close).
rsi_period
=5 - Period for the RSI calculation.
rsi_upper_level
=70 - Upper threshold for the RSI.
rsi_lower_level
=30 - Lower threshold for the RSI.
macd_fast_ema
=12 - Fast EMA period for MACD.
macd_slow_ema
=26 - Slow EMA period for MACD.
macd_sma
=9 - Signal Line (SMA) period for MACD.
You may also like: Figurelli RSI: Enhanced Relative Strength Index for Trend Detection - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property strict
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "16.04"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 green.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.