Ever felt like price bars are talking smack at you—and you’re missing all the juicy reversals? Trading raw candlesticks on MT4 can be a grind… one minute you think you’ve nailed a hammer or shooting star, next minute price blasts right through. Enter Candle Pattern Scanner V1.2 Indicator MT4, your free sidekick that does the heavy lifting—automatically spotting classic candlestick patterns across any pair or timeframe. No more squinting at charts or scribbling notes—let the scanner highlight hammers, engulfings, dojis and more, so you can focus on execution and not endless pattern-hunting.


Overview


The Candle Pattern Scanner V1.2 Indicator MT4 is built for both newbie and veteran traders who crave a systematic way to identify candle patterns without cluttering the chart. It constantly scans price action—on M1 through H4 charts—for 12+ key candlestick formations: from Pin Bars and Morning Stars to Tweezer Tops and Harami Crosses. Once a pattern is detected, you get a clean, non-repainting alert (popup, email, push), plus the pattern is marked right on your chart with customizable icons and labels.


Under the hood, this scanner uses price-action rules aligned with classical candlestick theory. It filters out weak formations by adding an optional volatility check—so you won’t get hammered by false signals in low-range markets. Plus, you can tweak sensitivity, choose which patterns to watch for, and sync signals across multiple timeframes. All of that in one lightweight MT4 indicator that won’t slow down your platform.


Key Features



  • Multi-Pattern Detection: 12+ patterns including Hammer, Shooting Star, Engulfing, Doji, Harami, and more

  • Real-Time Alerts: Popup, email, and mobile push notifications when patterns form

  • Non-Repainting Logic: Signals lock in at candle close—perfect for backtesting

  • Volatility Filter: Optional ATR-based filter to avoid low-volatility noise

  • Multi-Timeframe Scan: Simultaneously scan M1, M5, M15, M30, H1 & H4 charts

  • Customizable Icons & Labels: Choose your own symbols, colors, and label positions

  • Auto-Refresh Dashboard: View all recent patterns in one floating panel, sortable by pair/timeframe

  • Light on Resources: Efficient coding keeps CPU load minimal

  • Free to Use: No hidden fees or subscriptions—ever


Performance & Validation


In our internal backtests on EUR/USD H1 over a six-month period, Candle Pattern Scanner V1.2 flagged 450+ valid signals across 6 major pairs. When paired with a simple price-action entry rule and 1:1.5 risk-reward, demo results showed:



  • Win rate: ~54%

  • Average R:R: 1.62

  • Max drawdown: under 8%


How to Install & Configure



  1. Download: Grab the .ex4 file from
    https://fxcracked.org/candle-pattern-scanner-v1-2-mt4

  2. Copy to MT4:

  3. Open MT4 → File → Open Data Folder

  4. Paste CandlePatternScanner_v1.2.ex4 into MQL4/Indicators

  5. Restart MT4: Let the terminal detect the new indicator

  6. Attach to Chart:

  7. Insert → Indicators → Custom → CandlePatternScanner v1.2

  8. Pick your desired symbol and timeframe

  9. Configure Settings:

  10. Patterns to Scan: Select/deselect patterns (default: all ON)

  11. ATR Filter Period: Default 14 (set to 0 to disable)

  12. Alert Types: Enable popup/email/push

  13. Icon Style: Choose arrow, dot, or text label

  14. Save Template: Right-click chart → Template → Save as “CPS v1.2_Template”


For tips on using candlestick patterns alongside other tools, check our Beginner Guide to Forex Indicators and the Volume Profile Indicator MT4 review.


Why Choose YoForex-Powered Tools?


YoForex Corp builds scanners and EAs that combine solid theory with real-world testing—no smoke and mirrors. Our indicators (like the popular Breakout Pro Indicator MT4) come with:



  • Ongoing updates driven by community feedback

  • Transparent architecture so you know exactly what’s under the hood

  • Active support via WhatsApp & Telegram


Plus, everything we release is 100% free—because we believe every trader, everywhere, deserves pro-grade tools without the hefty price tag.


Support & Disclaimer


Got questions or spotted a bug? Hit us up any time:



Disclaimer: Past patterns don’t promise future profits. Technical indicators are tools, not guarantees—always demo trade first and manage your risk responsibly.


Call to Action


Ready to never miss another hammer or engulfing? Download Candle Pattern Scanner V1.2 Indicator MT4 now at fxcracked.org and start spotting high-probability setups in seconds. Join our community on WhatsApp & Telegram for tips, updates, and peer support—trade smarter, not harder.