This technical indicator automatically identifies price action based on Reversal Candlestick Patterns on the chart and draws arrow signs with useful tips. It also identifies previous candle patterns automatically when you scroll to the left side.
Using this indicator, you can find all the latest reversal candlestick patterns without browsing any websites saving your valuable time. On the other hand, you can compare chart analysis with previous and latest identified candle patterns.
Implemented Candlestick Patterns
- Dragonfly Doji
- Gravestone Doji
- Hanging Man
- Inverted Black Hammer
- Inverted Hammer
- Long Lower Shadow
- Long Upper Shadow
- Pin Bar
- Identifies the most popular price action based on simple and complex candlestick patterns.
- Signals are filtered by support levels and historical data.
- Draws arrows and check signs for identified candles.
- Arrow type, font, font size and colors of items can be customized for better view.
- Candlestick Patterns Parameters
- Pin Bar Color - color for sign.
- Dragonfly Doji Color - color for sign.
- Gravestone Doji Color - color for sign.
- Hanging Man Color - color for sign.
- Inverted Hammer Color - color for sign.
- Hammer Color - color for sign.
- Inverted Black Hammer Color - color for sign.
- Long Lower Shadow Color - color for sign.
- Long Upper Shadow Color - color for sign.
- Pattern Sign - Wingdings character for identified candlestick patterns.
- Arrow Parameters
- Buy Color - color for all buy signs.
- Buy Sign - Wingdings character for filtered buy candlestick pattern.
- Sell Color - color for all sell signs.
- Sell Sign - Wingdings character for filtered sell candlestick pattern.
- Check Color - color for check signs.
- Check Sign - Wingdings character for user attention situation.
- Distance - draw arrow sign from candle top (pips).
- Margin - define support and resistance areas of the chart as reversal areas in pips. As an example between High Price and (High Price-Margin) and Low Price and (Low Price+Margin).
- Other parameters
- Font - font family for the information panel.
- Font Size - font size for the information panel.
This indicator is based on the Pivot Bro algorithm. If you are looking for more functions and information for your trading life, then you can download that universal indicator via MetaTrader market. The Pivot Bro draws Pivot Levels and Fibonacci Levels indicating Reversal Candlestick Patterns.