Gold Pattern Scanner Pro

Gold Pattern Scanner Pro

Gold Pattern Scanner Pro

Gold Pattern Scanner Pro automatically detects trend channels and rising/falling wedges directly on your chart, using an Autochartist-style approach.

It draws clean upper/lower trendlines, calculates the current price position inside the pattern, and sends smart alerts (including push notifications) when price touches the channel boundaries.

✅ Main Features

• Automatic detection of:

  • Up/Down Trend Channels

  • Rising Wedge (bearish pattern)

  • Falling Wedge (bullish pattern)

• Autochartist-style drawing:

  • Clean upper and lower trendlines

  • Lines extend to the right (RAY_RIGHT)

  • Visual pivot markers on the chart

• Touch alerts:

  • Alert when price comes close to the upper or lower line

  • Optional push notification to your mobile terminal

  • Built-in cooldown time to avoid alert spam

• Buy/Sell score:

  • Calculates where the current price is located inside the pattern

  • Outputs a Buy Score and Sell Score (0–100)

  • Helps you quickly understand whether price is near support / resistance

• Non-repainting logic:

  • Patterns are calculated based on confirmed pivots only

• Lightweight & efficient:

  • Uses prev_calculated to update only when new bar appears

  • No excessive object creation every tick

? Concept & How It Works

1. The indicator scans historical bars and finds swing highs and swing lows using a pivot-based algorithm ( PivotRange ).

2. From these pivots, it selects the oldest and the most recent significant highs and lows, then builds:

   • An upper trendline through the highs

   • A lower trendline through the lows

3. The slopes of these two lines are compared:

   • If both slopes have similar sign and similar magnitude → Channel

   • If slopes are converging (one steeper than the other) → Wedge

4. The current price is projected inside that channel/wedge:

   • If price is near the lower line → Buy zone

   • If price is near the upper line → Sell zone

5. When price comes close to either line (within TouchRangePoints ) →
   Alert + (optional) Push Notification are fired, with a cooldown ( CoolMinutes ) to prevent spam.

• A visual tool for discretionary traders

• A signal filter for EA developers (by reading conditions from objects / pattern state)

? Buy/Sell Score

Gold Pattern Scanner Pro calculates a relative position (0–100%) of the current price within the detected pattern.

• 0% → exactly on the lower trendline

• 50% → middle of the pattern

• 100% → exactly on the upper trendline

From this, the indicator outputs:

• Buy Score (0–100)

• Sell Score (0–100)

Typical logic:

• In an Up Channel:

  • Near lower line → high Buy Score

  • Near upper line → higher Sell Score (for counter-trend or TP)

• In a Down Channel:

  • Near upper line → high Sell Score

  • Near lower line → potential Buy area

• In a Rising Wedge (bearish):

  • Higher price within pattern → more aggressive Sell Score

• In a Falling Wedge (bullish):

  • Lower price within pattern → more aggressive Buy Score

The Buy/Sell score is displayed on the chart in a small info label:

• Pattern type

• Position (%)

• Buy Score

• Sell Score

This is not a black-box signal generator,but a practical and flexible decision-support tool.

⚙️ Input Parameters

Pattern Detection

• PivotRange
  Number of bars to the left and right to define a pivot high/low.
  Bigger value → less, but stronger pivots.

• LookbackBars
  How many historical bars are scanned for pattern detection.

• ChannelSlopeDiff
  Maximum relative slope difference to be considered a “channel”.
  Smaller value → stricter channel detection.

• ObjPrefix
  Prefix for all objects created by the indicator (trendlines, labels, arrows).
  Useful if you use multiple instances on the same chart.

Alert Settings

• TouchRangePoints
  Maximum distance (in points) between current price and trendline to trigger an alert.

• CoolMinutes
  Cooldown time (in minutes) between alerts to avoid repeated notifications.
  Set to 0 to disable cooldown.

⏰ Recommended Timeframes & Symbols

Best Timeframes

• M5, M15, M30, H1

Best Symbols

• XAUUSD (GOLD) – main focus

• Major forex pairs (EURUSD, GBPUSD, USDJPY, etc.)

• Indices (US30, NAS100, etc.)

• Crypto pairs (BTCUSD, ETHUSD, etc.)

? Alert Example Messages

Example alert messages:

• Up lowline buy M15

• Down upline sell H1

• Rising upline sell M5

• Falling lowline buy M30

Format:

<PatternShort> <low/upline> <buy/sell> <Timeframe>

You can receive these alerts:

• As pop-up alerts

• As push notifications (if configured in your MetaTrader terminal)

❗ Important Notes & Limitations

• This indicator does not open or close any trades.
  It is a visual / analytical tool.

• Pattern detection is based on past confirmed pivots.
  New patterns may appear or disappear as the market structure evolves.

• No indicator is perfect:

  • Channels can eventually break

  • Wedges can fail
    Always combine it with risk management and your own trading plan.

? Suggested Use Cases

• As a directional bias filter:

  • Only buy when price is near lower line in an up-channel

  • Only sell when price is near upper line in a down-channel

• As a take-profit / scaling-out helper:

  • Take partial profits when Sell Score is high in an up-channel

  • Take partial profits when Buy Score is high in a down-channel

• As an EA filter:

  • Many developers use trendline objects or pattern state to filter entries.

  • For example, only trade when a channel is detected and price sits in a specific zone.

❓ FAQ

Q: Does the indicator repaint?
A: It uses confirmed pivot highs/lows for pattern detection.
New patterns can form as new pivots appear, but it does not repaint past signals on closed bars.

Q: Does it work only on GOLD?
A: No. It was designed and tuned on XAUUSD, but it works on any symbol that has clear swings and trends.

Q: Is this an EA?
A: No. It is an indicator. It does not place orders automatically.

Q: Can I use it together with other EAs or indicators?
A: Yes. It only draws objects and labels. It does not interfere with trade operations.

? Version History

Version 1.0

• Initial release.

• Autochartist-style detection of channels and wedges.

• Touch alerts + push notifications.

• Buy/Sell score and position label.