[Help] Building a pattern recognition tool for Empty4

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KoTa
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Joined: Sat Mar 19, 2022 9:37 am

[Help] Building a pattern recognition tool for Empty4

Post by KoTa »

Hi all,

After constantly staring at multiple charts trying to wait/look for certain candle stick patterns to emerge for awhile, I have realized that manual monitoring is really inefficient and not really productive since most of the time it is just sitting in front of the screen waiting, and the screen can only fits a few fx pairs, so there will be missed opportunities in the pairs that are not opened, worst of all, the longer I stare, the more my brain makes up reasons for a valid trade.

In light of the above, I would like to start a project in building something that can monitor all the major forex pair and sends out an alert when a particular candle stick pattern emerges on a chart (e.g. engulfing pattern) without the chart of the particular pair being opened on the screen.

I have essentially no coding knowledge, so I am thinking of using this project to learn some skills in coding and be productive with my time. And I would like to ask if someone can point me in the direction as to how I can start with such a project (maybe is there something similar that has been already built that I can look at the code for, or is there some good resources available in learning to build this)?

And for something like this, is it better to use MQL4 or other programming language like python to code?

Thanks for any help in advance and looking forward to hearing the replies!

KoTa
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SteveHopwood
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[Help] Building a pattern recognition tool for Empty4

Post by SteveHopwood »

Welcome.

There are people here who are far more expert programmers than I will ever by but I am good at functional stuff and create some mean EA's. I love helping beginner coders, so sing out when you need help.

mql4 is an easy language. It only needs to address trading and so has a limited number of commands that we use over and over again. Use the attached to get you started.

The M and W indi uses Fractals to spot potential M/W pattern formations over the previous candles. When it has found 4 fractals:
  • Alternating high/low/high/low: potential W formation.
  • Alternating low/high/low/high: potential M formation.
I am no good at indicator coding so the indi works purely in the here and now, so there is no going back in history and showing stuff on the chart. The basics I have coded should get you started.

:xm: :rocket:
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Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

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My special thanks to Thomas (tomele) for all the incredible work he does here.
KoTa
Posts: 2
Joined: Sat Mar 19, 2022 9:37 am

[Help] Building a pattern recognition tool for Empty4

Post by KoTa »

Thanks Steve!

Was doing some thinking on what I wanted to do and just wanted to confirm something with you guys, does an Empty4 indicator or EA actually still works on the background monitoring fx pairs even if they are not opened in the Empty4 chart?

When I was browsing through the net and thinking back on my experiences with Empty4, it starts to feel like that indicators / EA will only work if the chart is opened, so they won't be working on the background monitoring pairs that are not opened in the charts.

And from there on, it led me to a term "data API", I am starting to think what I need is to somehow connect all the Empty4 live price data that are constantly coming in with an API / script, then use that API / script to monitor and analyze or draw a chart with those data in the background, and send outs an alert when the candlestick pattern emerges.

Is my thinking correct or perhaps did I misunderstood Empty4's capability and over complicated things?

Thanks!

KoTa
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SteveHopwood
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Joined: Tue Nov 15, 2011 8:43 am
Location: Misterton - an insignificant village in England. Very pleasant to live in.

[Help] Building a pattern recognition tool for Empty4

Post by SteveHopwood »

Empty4 software only runs when loaded onto an open chart.

As to the API thingy, I cannot help with that.

:xm: :rocket:
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Thomas (tomele) for all the incredible work he does here.
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