Candlestick Patterns for MT5
The Candlestick Patterns indicator for MT5 includes 14 types of candlestick signales in only one indicator.
- Long Candles: Often, very long candles are followed by a countermove.
- Inside candles
- Outside candles
- Two green or two red consecutive candles
- Three green or three red consecutive candles
- Range break candles (Fix amount of candles)
- Außenstäbe (Range break candles, dynamic amount of candles)
The inidcator creats a arrow above or under the signal candle and a little character inside the candle to display the type of the signal.
Furthermore the indicator can mark SL and TP levels in points or pips from buy or sell price.
For long candles the indicator can display the exact length of it.
For range break candles it´s possible to show a rectangle at the chosen range.
Please notice that the higher the choosen time frame the reliable are the generated signals.