Indicator of Candlesticks Combinations (Japanese Candlesticks) - MetaTrader 4용 지표

The candlesticks combination were taken from the book "Japanese Candlesticks" by Nison.

This indicator designates the following combination of candlesticks:

- "hammer" or "hanged man", the code of the symbol is 108, the color is DimGray.

- "bullish engulfing", the code of the symbol is 110, the color is Red . It designates the bullish trend.

- "bearish engulfing", the code of the symbol is 110, the color is Lime . It designates the bearish trend.

- "dark-cloud cover", the code of the symbol is 116, the color is Lime . It designates the bearish trend.

- "cloud gap", the code of the symbol is 116, the color is Red . It designates the bullish trend.

- "doji", the code of the symbol is 174, the color is Indigo . It is used coupled with the other combinations.

For the convenience you can point the cursor on a symbol and wait a few of seconds, the pop-up window containing the name of the object will appear, it also contains the description of the candlesticks combination.

For example: If the "hanged man" appears after a pronunced uptrend, it's confirmed by the open price of the next candlestick, composing the price break relatively to the close price of the "hanged man", etc.