Hanging Man Signal Pro
- Platform
- MetaTrader 5
- Type
- Expert Advisor
- Version
- 1.00
- Licence
- Free to download
- Published
- 8 Jun 2025
- Last updated
- 4 Oct 2026
- Download
- 1 file · 5.9 KB
- Author
- Allan Munene Mutiiria
Overview
The Hanging Man Signal Pro is a lightweight Expert Advisor for MetaTrader 5 (MT5), designed to detect and highlight the Hanging Man candlestick pattern, a key bearish reversal signal in forex markets. Tailored for traders of all levels, this EA identifies the pattern and marks it on the chart with a clear visual cue, aiding in timely decision-making. Its core strength lies in its precise pattern recognition and minimalist design, making it an ideal tool for manual traders or strategy integration.
Features
This EA offers focused candlestick pattern detection. Hanging Man Identification: Detects the Hanging Man pattern on the latest bar, requiring a bearish candle with a small upper body (high-open < 10% of candle size) and a long lower wick (close-low > 70% of candle size). Visualization: Places a white arrow (code 233) at the low of the identified candle to signal a potential sell opportunity. Real-Time Analysis: Scans each tick for the pattern, ensuring immediate detection across any timeframe and symbol. Simple Architecture: No trading logic, focusing solely on pattern detection and visualization for manual trading support. Seamless Integration: Lightweight and compatible with MT5, requiring minimal resources.
Benefits
The Hanging Man Signal Pro streamlines technical analysis by automating the detection of the Hanging Man pattern, saving time and enhancing accuracy in spotting bearish reversals. Its clear white arrow marker simplifies chart interpretation, making it perfect for traders seeking high-probability setups in trending markets. The EA’s simplicity allows easy integration with other trading systems, ideal for swing or position trading. Supported by Allan Munene Mutiiria, this tool offers a reliable, user-friendly solution for pattern-based trading.
Specifications
- Type: Digital software (Expert Advisor for MetaTrader 5)
- Platform: Compatible with MetaTrader 5 (MT5)
- Language: Written in MQL5
- Version: 1.00
- Developer: Allan Munene Mutiiria - https://t.me/Forex_Algo_Trader
- Link: https://youtube.com/@ForexAlgo-Trader
- Requirements: Active MT5 platform, access to forex or market symbols
- Pattern: Hanging Man (bearish candle, small upper body, long lower wick)
- Visualization: White arrow (code 233) at candle low
- Functionality: Pattern detection, no automated trading
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