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Original Candle Analysis

This indicator combines the capabilities of the already known indicators: https://www.mql5.com/en/market/product/13270 and https://www.mql5.com/en/market/product/14287. Its feature is that the user gets a flexible response tool, taking into account its capacity to respond to the market situation. Thus, the Original Candles indicator allows to determine the support and resistance levels, that are not visible at first. You will see a kind of candlesticks with all their appropriate properties. It is possible to easily detect the significant price level by using the InpModeCandels parameter to select the display model that suits your trading style the most. The indicator includes the detection system of candlestick formations in relation to the original candlesticks from the Big Candle indicator and consists of a panel, which is located in a position convenient for the user, and uses an original technology to identify a candlestick pattern, that is formed by a combination of three candlesticks which are considered to be a single candlestick. The candlestick, called large, covers three candlesticks on any timeframe. The candlestick formations that you can see belong to the one candle patterns:

  • Yo Sen (bullish);
  • In Sen (bearish);
  • Hammer (bullish);
  • Hanging man (bearish);
  • Inverted hammer (bullish);
  • Shooting Star (bearish);
  • Standard Doji or Doji star;
  • Long-Legged Doji;
  • Gravestone Doji;
  • Dragonfly Doji.

Also the patterns:

  • Bearish Engulfing Pattern;
  • Three Outside Down;
  • Dark Cloud Cover;
  • Evening Doji Star;
  • Bearish Harami Cross;
  • Three Inside Down;
  • Three Black Crows;
  • Evening Star;
  • Bullish Engulfing Pattern;
  • Three Outside Up;
  • Bullish Harami Cross;
  • Three Inside Up;
  • Piercing Line;
  • Three White Soldiers;
  • Morning Doji Star.


Parameters

  • corner - Chart corner to display the indicator. Default - top left;
  • InpModeCandles - candle display model selection (fine or coarse). Default - fine tuning.
  • Bullish_candle - bullish candlestick. Default - Blue;
  • Bearish_candle - bearish candlestick. Default - Red;
  • Line_candle - line. Default - Green.
  • Fill color candles - filling candles with a color. Disabled by default.
  • set_Alert - pattern formation signal. Enabled by default.
  • Inclusion levels Fibo — enable (true) or disable (false) Fibo levels.
  • Installing Fibo Bobokus levels — enable Bobokus Fibo levels (true) or standard Fibo levels (false).
  • Distance to turn Fib levels Bobokus — distance in points between spots of the last movement to visualize Bobokus Fibo levels.
  • Color Fibonacci zone — Bobokus Fibo levels color.

The indicator's feature is that it displays the candlestick patterns in a standard manner, which is displayed by the line "3 bars:" and only by the big candle - "Big:". The new Highs and Lows can be seen in the indication panel, where their values and the magnitude of the excess in points is shown. We must always remember that any patterns can not guarantee that the price will not ignore them. The indicator supports the output of the pattern names in the Russian language along with the English language. In addition, the indicator is equipped with a Fibonacci level placement option, which makes this indication system unique.

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