The 2b reversal pattern indicator looks for a break that did not hold. Price pushes past a recent swing high, then closes back below it on the same bar. Victor Sperandeo named that pattern, and it is all this tool marks.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: 2B Buy, 2B Sell |
| Alerts | popup, push notification, email, sound |
| Inputs | 8 |
What the 2b Reversal Pattern Indicator draws on the chart
`2B Buy` uses arrow 233 in lime below a failed downside break.
`2B Sell` uses arrow 234 in red above a failed upside break.
Marks sit `ArrowOffsetPoints` `40` points from the candle.
No lines, levels or panels ship with this build.
- 2B Buy: arrow, lime, width 4, arrow code 233
- 2B Sell: arrow, red, width 4, arrow code 234
How the 2b Reversal Pattern Indicator calculates its values
The swing comes from a short window
`SwingLookback` `6` scans the six bars before the current one for the highest high and the lowest low. Those two prices are what the current bar has to break.
Break and reject on one bar
A sell needs this bar’s high above the swing high while its close finishes below it. The buy case mirrors that at the swing low. Both halves must happen on the same candle.
Why the window excludes the current bar
The scan starts one bar back. Including the current bar would make it its own high, so no break could ever register. Starting one back is what makes the comparison mean anything.
How to read the signals
A mark means a break was attempted and rejected within one bar.
The six-bar window makes this a short-term pattern, not a major turn.
Marks are frequent, because six bars is a low bar to clear.
The bar’s own wick is the evidence, so look at the candle shape.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
`EnableAlerts` is the master toggle and starts true, with `EnablePopup` giving the terminal dialog. `EnablePushNotify` adds mobile, `EnableEmail` adds mail and `EnableSound` plays `SoundFile`. All three of those begin false.
Every 2b Reversal Pattern Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
SwingLookback |
Bars scanned for the swing, starting one bar back, default `6`. | 6 |
Display settings
| Setting | What it does | Default |
|---|---|---|
ArrowOffsetPoints |
Points between a mark and the candle, default `40`. | 40 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
master toggle. Master toggle over the routes, default `true`. | on |
EnablePopup |
MT4 popup dialog. Terminal dialog on a pattern, default `true`. | on |
EnablePushNotify |
mobile MT4 push notification. Mobile push on a pattern, default `false`. | off |
EnableEmail |
SMTP email (configure in MT4 Tools > Options > Email). Mail on a pattern, default `false`. | off |
EnableSound |
play sound file from MT4/Sounds/. Sound file on a pattern, default `false`. | off |
SoundFile |
Name of that file, default `”alert.wav”`. | alert.wav |
Settings that fit your chart
The screenshot note picks H1 for visible reversal signals. EURUSD H1 is the reference chart, where a six-bar swing covers six hours. On M5 the marks arrive constantly. Higher timeframes make each one far more meaningful.
When the 2b Reversal Pattern Indicator fails
`SwingLookback` `6` is short, so most marks describe minor swings.
A failed break often becomes a successful one on the following bar.
Nothing filters by trend, so marks appear against strong moves too.
Copy the compiled 2b Reversal Pattern Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Background reading on the method behind the 2b Reversal Pattern Indicator: Hikkake pattern on Wikipedia, Candlestick Pattern Dictionary at StockCharts ChartSchool.
Download the 2b Reversal Pattern Indicator for MT4 and MT5
The zip holds the compiled 2b Reversal Pattern Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
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FAQ
What is the 2B pattern exactly?
Price takes out a recent swing extreme and then closes back inside the old range on the same bar. Victor Sperandeo described it as a failed test, since the break attracted no follow-through at all.
Why does SwingLookback 6 produce many marks?
Six bars is a very short window, so the high it finds is often a minor one. Minor extremes get broken and rejected frequently. Raising the lookback makes each mark describe a more significant swing.
Does a 2B Sell need a specific close?
It needs the close below the swing high that the same bar’s high exceeded. The exact level does not matter beyond that, so a bar closing just inside counts the same as one closing far inside.
Why is ArrowOffsetPoints 40 the default?
The pattern bar usually has a long wick, and a small offset would put the mark inside it. Forty points clears a typical wick on a five-digit pair. Adjust it for instruments with a different point size.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the 2b Reversal Pattern Indicator as one input. Always backtest before trading live.
Category: this is part of our Candle Sticks collection. Then, browse more Candle Sticks for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in Hikkake pattern on Wikipedia.
- Additional market context is at Candlestick Pattern Dictionary at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.