The purpose of the CandlePattern indicator is to help the trader with determining the candlestick combinations on the chart. The advantages of using the candlestick combinations is that the candlestick combinations allow to determine the beginning of a trend much earlier than smoothing indicators like Moving Average and others.
The indicator parameters
- ViewBars - The number of candles for plotting the indicator
- TextColor - text color
It is recommended to use the indicator together with other trend indicators.