Candlestick Patterns Identification
The MT5 Candlestick Patterns Identification was developed to continuously identify both Bullish and Bearish candlestick patterns and, then, present them Graphically to the user. Therefore, offering support to the user during trades decision making through the exhibition of colored arrows and labels which will indicate the more probable price pathways!
The algorithm of the Candlestick Patterns Identification utility is capable of automatically finding a total of 25 Single, Dual and Triple candlestick Reversal and Continuation patterns:
- Bullish patterns - Hammer, Inverted Hammer, Spinning Top, Bullish Belt Hold, Bullish Marubozu, Bullish Kicker, Piercing Line, Tweezer Bottom, Three White Soldiers, Morning Star, Bullish Abandoned Baby, Three Inside Up and Three Outside Up
- Bearish patterns - Hanging Man, Shooting Star, Bearish Belt Hold, Bearish Marubozu, Bearish Kicker, Dark Cloud Cover, Tweezer Top, Three Black Crows, Evening Star, Bearish Abandoned Baby, Three Inside Down and Three Outside Down
There are no restrictions for the use of it to any Market, Symbol, Timeframe, Template etc.
Labeling all the identified candlestick patterns:
- Will support the user during trades decision making
- Is an excellent tool for the trading learning process
The product use was totally simplified. It is ready for use, without parameterization, but if desired the color of arrows and label can be modified. Also, it is possible to select the identification of bullish and bearish patterns separately. The parameterization of the patterns identificator algorithm is not available.
If you have any questions, request or additional remarks, please do not hesitate to contact us! We will be happy to attend to you :)
Remarks: It is not an EA, no automatic trading is available.