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Candles Indicator for MT5

Demo downloaded: 20

Published: 6 February 2022

Current version: 1.1

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Candles Indicator for MT5

Indicators
Mikhail Gudyrin
Mikhail Gudyrin
Computer Engineer at Prague, Czech Republic

Czech Republic

225
Version: 1.1
Activations: 5

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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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 al

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