Hikkake Pattern Indicator MT5
Platform: MT5 Type: Pattern Last update: July 18, 2026The Hikkake Pattern Indicator for MT5 is used in the strategy called Inside Day False Breakout.
Essentially, it’s centered around deceptive breakouts and approaching them properly.
Example chart:
How to use the Hikkake Pattern Indicator for Metatrader 5?
The Hikkake pattern is built on two bars. First, price breaks out of an inside bar, most traders jump in expecting the market to keep moving in that direction.
Then price reverses. This is where Hikkake gets interesting: the fakeout is the setup, not the breakout.
Rules for confirmation:
- Bullish Hikkake: Wait for price to break above the inside bar’s high.
- Bearish Hikkake: Wait for price to break below the inside bar’s low.
- Timing: This confirmation must happen within 3 candles of the pattern forming. If it doesn’t, the pattern is invalid so skip the trade.
A bit of history behind the tool
The Hikkake pattern was introduced by Dan Chesler in his April 2004 Active Trader Magazine article: “Trading False Moves with the Hikkake Pattern”.
This indicator’s MQL5 code is based on that original concept.
How it’s structured
The pattern uses two price bars—these can be hourly, daily, weekly, or monthly.
The first bar is an inside bar, meaning it has a lower high and a higher low than the bar before it.
The second bar determines the pattern type.
If it has a higher high and a higher low than the inside bar, it’s a bearish Hikkake. If it has a lower low and a lower high than the inside bar, it’s a bullish Hikkake.
Conclusion
Spotting a Hikkake pattern manually across multiple timeframes can be tedious and easy to misjudge.
This indicator does the watching for you, including marking the pattern, tracking the confirmation window and flagging the entry with a clear arrow.
You can just focus on deciding whether to take the trade rather than hunting for the setup.
