Candles Indicator for MT5

A visualization system for favorite candlesticks price action patterns.

Once attached, indicator will automatically mark next patterns on the chart:

  • Pinocchio bar - a small-body bar with a long 'nose', very well-known reverse pattern;
  • Inside bar - a bar whose range lies inside the range of the previous bar. It represents market incertitude;
  • Outside bar - a bar whose range exceeds the range of the previous bar. It represents market incertitude;
  • Rails pattern - two consequent opposite bars with almost equal, larger bodies. A reverse pattern, which actually coincides with a Pinocchio bar pattern from a higher timeframe;
  • Master candle pattern - the fiver of candles, where four subsequent candles have their ranges inside the range of the fifth - Master candle. This pattern represents market consolidation, especially on a lesser timeframe.
  • Gap - a gap between close and open prices of consequent bars, which should not be overlooked.

This indicator was developed with high performance requirements in mind.

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