Three line candle scanner with RSI filter
This indicator scans for the following candlestick patterns (please see screenshot for explanation of the patterns):
- Three white soldiers (reversal>continuation pattern)
- Three black crows (reversal>continuation pattern)
- Bullish and bearish Three line strike (reversal pattern)
The patterns do not appear very often on higher timeframes when the strict option in the indicator settings is enabled. But when they do, it is a very high-probability setup.
According to Thomas Bulkowski (internationally known author and a leading expert on candlestick patterns), the Three line strike has the highest overall performance rank of any candlestick pattern.
- Can monitor all symbols visible in your Market Watch window at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
- Monitors every timeframe, from M1 to MN, and sends you a real-time alert when a pattern is identified.
- Can use RSI as a trend filter in order to properly identify potential reversals.
- The indicator includes an interactive panel. When clicking on an item a new chart will be opened with the symbol and time frame in question.
It is enough to place the indicator on one chart and you will receive an alert from any symbol and any time frame of your choice.
Please find the description and explanation of the input parameters here.
Please note that due to the multi-timeframe functionality, this indicator will not draw lines and arrows or sell and buy advice on any chart.
I recommend you to put the indicator on a EURUSD M5 chart, preferable a clean chart without any other indicators or Expert Advisors on it.
Please check out my other trend reversal products:
- added the possibility to set a custom alert text for alerts (not in the panel). The custom text will be added to the end of the regular alert text
- added the possibility to set a custom panel title
- added support for strategy tester