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

In multiple forward tests the indicator demonstrated consistent signal timing and reliable mobile and PC alerts, which supports the performance numbers shown in live tests.

The algorithm validates wick length, candle body ratio, and proximity to key levels, then issues a red arrow only when all confirmations pass. This multi-criteria approach reduces false positives compared with single-candle triggers. The indicator is optimized for MT5 and integrates easily with existing trade management tools.

The indicator works best in ranging-to-mildly-trending markets where resistance levels are respected, and it performs less reliably during highly volatile breakout phases. Risk management is external to the indicator but recommended: fixed stop loss beyond the pattern highs and position sizing tied to account risk. DMITRII GRIDASOV provides version updates and documentation on the MQL5 marketplace, and the indicator pairs well with manual level-based trade management on MT5.

Stop loss strategy typically places stops above the highest wick of the pattern with a buffer based on ATR or fixed pips. Position sizing of 0.5% to 1% risk per trade is recommended to limit drawdown exposure. The indicator is vulnerable during strong trending breakouts, news events, and low-liquidity sessions where reversal patterns fail. Recommended account size for practical live use is at least $1,000, with larger accounts improving margin for scaling and diversified position management.

Attach the indicator to H1 or H4 charts and enable PC and mobile alerts in the indicator settings. Key parameters to configure include pattern sensitivity, lookback period, ATR buffer for stops, and alert preferences. Use an ECN or STP broker with low spreads for cleaner entries; avoid brokers with high commissions that distort small pattern profits.