Candle Wise

Candlewise marks 22 classic candlestick patterns on your chart. Each pattern gets a strength score from 1 to 5 and a status that shows whether the next candles confirmed it. It runs in the chart window, with no panel to open.

Patterns included

Engulfing, Harami, Harami Cross, Piercing Line, Dark Cloud Cover, Morning Star, Evening Star, Morning Doji Star, Evening Doji Star, Three White Soldiers, Three Black Crows, Three Inside Up and Down, Three Outside Up and Down, Hammer, Hanging Man, Inverted Hammer, Shooting Star, Doji, Dragonfly Doji, Gravestone Doji, Tweezer Top, Tweezer Bottom.

What it does

  • Detects the patterns on closed candles. A marked pattern does not disappear later.
  • Draws a zone around the pattern's candles: dashed while waiting, solid once confirmed, dotted when it failed.
  • Places a short label in free space, so the candles stay visible. Hover a zone to see the name, strength and status.
  • Scores each pattern from 1 to 5 from its context: the move before it and whether it formed at a swing high or low.
  • Tracks every pattern for 3 candles: Waiting, Confirmed, Failed or Unconfirmed.

Pattern rules

The rules are a line-by-line port of TA-Lib's candlestick functions, with TA-Lib's own candle settings. Tweezer Top and Tweezer Bottom follow Bulkowski's Encyclopedia of Candlestick Charts. The full rule set was compared with TA-Lib on 19,970 closed candles: 99.996% identical on EURUSD H1 and 100.000% on GOLD M15. Each remaining difference was a candle sitting exactly on a threshold.

Themes

Dark and light themes, or Auto to follow the chart background. The indicator can apply its colours to the chart, and your original chart colours are restored when you remove it.

Inputs

Patterns: minimum strength shown (default 3), show bullish, bearish and indecision patterns.

Chart: bars to mark, labels (Smart, Full, Short, Off), zones on or off, label font size, theme (Auto, Dark, Light), apply theme colours to the chart.

Context and confirmation: prior move look-back, swing look-back, confirmation window (bars).

Setup

Attach Candlewise to any chart. No other settings are needed.

Important

This is a technical analysis tool. It shows where candlestick patterns formed on your chart. It does not place trades and does not predict prices. Trading involves risk.

Support

Questions and feature requests: please use the comments on this page or send me a private message on MQL5.

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