Candlestick Patterns Context
- Indicatori
- Versione: 1.10
Candlestick Patterns Context labels well-known candle patterns. It also lets you hide the small or out-of-context ones that make most pattern tools noisy.
Patterns (each can be switched on or off)
- Bullish and bearish engulfing
- Hammer and shooting star
- Bullish and bearish harami
- Piercing line and dark cloud cover
- Morning star and evening star
- Three white soldiers and three black crows (off by default)
- Doji (off by default; labelled with no direction)
Filters
- Minimum size: the signal candle's range must be at least a multiple of ATR (default 0.6), so tiny candles in quiet hours are ignored.
- EMA context (optional):
- Reversal: bullish patterns only below the EMA, bearish only above.
- With trend: the opposite.
- Off: show everything.
What you see
- Up and down arrows, also available as buffers for Expert Advisors.
- Optional pattern names, with a cap on how many labels stay on the chart.
- Optional context EMA line.
- Alerts: pop-up, sound and push, on the candle that just closed.
How it calculates
Patterns are checked once per closed candle, using that candle and the one or two before it. Later candles are never used, and the forming candle never carries a mark. A mark does not change after its candle closes. EMA and ATR are calculated inside the indicator on the chart timeframe.
Forex and gold
The arrow offset and minimum size are ATR multiples, so they scale across EURUSD, GBPUSD, USDJPY and XAUUSD without changing settings. On gold, M15 and above give fewer, clearer patterns. On M1 to M5, a higher minimum size (0.8 to 1.0 x ATR) helps.
Inputs
Patterns: one switch for each pattern family.
Filters: ATR period, minimum range (x ATR), EMA context mode, EMA period, show EMA.
Display: arrow offset (x ATR), pattern names, maximum labels, font size, bars to scan.
Alerts: pop-up, sound, push.
Notes
- Pattern definitions follow common textbook rules. Different books use slightly different thresholds.
- This indicator does not open, modify or close trades. It is an analysis tool and not financial advice. No result is guaranteed, and past price behaviour does not predict future results.
Questions and suggestions are welcome in the comments section of this product.
