The indicator is located in the lower window, and allows to immediately inform the user about the state of the market in four time frames: the main timeframe is the one the indicator is attached to, the timeframe candles are located in the bottom window with one step forward and two steps back. For example, the indicator is attached to H4, then in the lower window you can see the candles from the timeframes D1 and H1, M30. By using the "Big candle" technique, which can be seen in details here: https://www.mql5.com/ru/market/product/14287, it allows 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 every timeframe, except the smallest, in our example M30. 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;
- Bullish Engulfing Pattern.
- 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.
It is worth mentioning the possibility of a rapid response to formations changing by connecting the pattern formation signal.