Double Hammer and Shooting Star pattern MT5 r (MT5) — review, price and free alternatives

The developer, DMITRII GRIDASOV, offers a $49.99 license and includes PC and mobile alerts, which improves response time for manual traders.

The algorithm scans candlestick bodies, wicks, and recent volatility to validate pattern symmetry before emitting an arrow. Trade signals are therefore filtered by structure, not just wick length, and users can tighten or loosen pattern sensitivity. The indicator performs best in trending markets that show clear pullbacks and in volatile crypto sessions where reversal candles are meaningful. Risk management is user-driven: the tool suggests stop loss placement beyond the pattern wick and recommends position sizing rules based on account risk percentage. Expected performance characteristics include moderate trade frequency, clear trade entry points, and reliance on confirmation from higher timeframes to reduce false signals.

The recommended stop loss strategy places stops beyond the extreme wick of the pattern, which typically translates to ATR-based stops of 0.8x to 2x depending on timeframe. Position sizing should be percentage-based, commonly 0.5-2% of account equity per trade to control volatility. Vulnerabilities include choppy, range-bound markets and news spikes that invalidate candlestick structure.

Attach the indicator to charts you intend to trade and set alerts for PC and mobile under the indicator settings. Key parameters to configure include sensitivity threshold, timeframe filter, and alert types. Recommended brokers are NDD ECN Forex brokers for tight spreads and regulated crypto brokers for accurate pricing.