What is flag-and-pennant-patterns-alerts?
flag-and-pennant-patterns-alerts is an MT4 pattern recognition indicator that automatically identifies classical chart continuation patterns including bullish/bearish flags and pennants.
How to use flag-and-pennant-patterns-alerts
Attach the indicator to your MT4 chart to view highlighted flag and pennant channel lines. Enable popup or sound alerts to receive notifications when patterns complete.
Where it helps
Displays flag and pennant pattern lines on MT4 charts.
Draws pattern boundary lines and channel extension lines on price charts.
Includes desktop popup, sound, email, and mobile push notification options.
MT4 Indicator Parameters
The table below lists the available MT4 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| InpChannelPeriod | Sets the channel period for pattern detection. Default: 14. |
| InpSlopePeriod | Sets the slope calculation period. Default: 50. |
| InpPennantPatternFactor | Sets the sensitivity factor for pennant patterns. Default: -10. |
| InpFlagPatternFactor | Sets the sensitivity factor for flag patterns. Default: 5. |
| AlertPopUp | Enables or disables popup alert notifications. Default: false. |
| AlertSound | Enables or disables audio sound alerts. Default: false. |
| AlertEMail | Enables or disables email notifications. Default: false. |
| AlertNotify | Enables or disables mobile push notifications. Default: false. |
The screenshot above shows the default input parameters in the MT4 settings window.
How to Install .ex4 Indicator in MetaTrader 4
- Download the ZIP file and extract it.
- In MT4, select File → Open Data Folder.
- Open MQL4 → Indicators and copy the EX4 or MQ4 file into it.
- If the package includes library files, copy them to MQL4 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT4, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
