Candle Pattern Finder demo
The indicator finds candlestick patterns based on Gregory L.' Morris "Candlestick Charting Explained: Timeless Techniques for Trading Stocks and Futures".
If a pattern is detected, the indicator displays a message at a bar closure.
It recognizes the following patterns: Bullish/Bearish (possible settings in brackets):
- Hammer / Shooting Star (with or without confirmation*)
- Inverted Hammer / Hanging Man (with or without confirmation*)
- Engulfing (high or low sensibility**)
- Piercing Line / Dark Cloud Cover (high or low sensibility**)
- Three White Soldiers / Identical Three Crows (high or low sensibility**)
- Morning Star / Evening Star including Doji Star
- Rising Three Methods / Falling Three Methods
- Meeting Lines
- Harami, including Harami Cross
** - "Low sensibility" - the pattern is recognized in strict conformity with the description from the book by Gregory L. Morris. "High sensibility" - uses additional criteria that take into account a variety of pattern options in the Forex market, which are not used on the stock market. This has increased the number of correct signals without increasing the number of false ones.
- The indicator implements virtually all candlestick patterns available for Forex from the book by G. Morris.
- The indicator is not tied to the size and shape of candlesticks, since it uses the intellectual recognition technique, which is similar to human perception - patterns are recognized so as a human eye would visually recognize them.
- You can choose to recognize separate candlestick patterns. Flexible settings for each pattern.
- Two languages are supported: English and Russian (the Language parameter). You can also add the names of the candlestick patterns, and in your mother tongue (send a private message to me).
- Sounds and message notifications of pattern formation. Emails and push notifications (parameters ON/OFF-Mail and ON/OFF-Push).
Parameters of candlestick patterns
- Parameters of Hammer and Shooting Star (Disable / Single bar (without confirmation) / Bar with confirmation)
- Parameters of Inverted Hammer and Hanging Man (Disable / Single bar (without confirmation) / Bar with confirmation)
- Parameters of Engulfing pattern (Disable / High sensitivity / Low sensitivity)
- Parameters of Cloud pattern (Dark/Piercing Cloud) (Disable / High sensitivity / Low sensitivity)
- Parameters of Three White Soldiers/Identical Crows (Disable / High sensitivity / Low sensitivity)
- Enable Morning Star and Evening Star (Disable / Enable)
- Enable Rising/Falling Three Methods (Disable / Enable)
- Enable Meeting Lines pattern (Disable / Enable)
- Enable Harami pattern (Disable / Enable)
Notifications and Alerts (not available in the Demo version)
- Color of Up-model – color for the descriptions of bullish patterns
- Color of Down-model – color for the descriptions of bearish patterns
- Show Pattern Description – show/hide pattern descriptions
- Language – English or Russian
Demo Version Limitations
The indicator is fully functional on GBPUSD (history + signals in real time operation). On the other instruments signals can be viewed only on the history (5 bars back from the current one).
Full version can be purchased here.
2. Now the indicator is able to pass the EA not only the information on the candlestick pattern appearance, but also the type of the pattern using the global variables of the terminal.