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The indicator recognizes the candlestick patterns in the market trend, timely warning of future price movements. In addition, the models serve as support/resistance levels and signal overbought/oversold levels.

The product is recommended to be used in conjunction with other technical indicators.

The indicator recognizes 17 candle patterns:

  • HM-Hammer (hammer)
  • HG-Hung (hanged)
  • IHM-Inverted Hammer (Inverted Hammer)
  • IHG – Inverted Hanged (hanging upside down)
  • DJ-Doji (doji)
  • BE – Bearish Engulfing (bearish engulfing)
  • MA-Marubozu (Marubozu)
  • TOD – Three Outside Down (Three Outside days Down)
  • TOU – Three Outside Up (Three outside days up)
  • BH – Bullish Harami (bullish harami)
  • TID – Three Inside Down)
  • TIU – Three Inside Up (three days from the inside up)
  • MS – Morning Star (morning star)
  • AB – Abandoned Baby (an abandoned child)
  • ES-Evening Star (Evening Star)
  • DC-Dark Cloud Cover)
  • PL-Piercing Line)

The indicator works on all symbols and timeframes.

The indicator works on all symbols and timeframes.

The platform is MetaTrader 4.

  • The default value is 50 periods for depth: Depth=12;
  • Indicator offset: Deviation=5;
  • Indicator Completion: Backstep=3;
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Candle input parameters:

  • ma_trend=100; the default value is 100;
  • env_period=50; default value is 50 periods;
  • dev=0.25; indicator offset;
  • Doji:
    • Display model: Display_Doji=true;
    • Color for purchase: Color_DojiR = Lime; for sale: Color_DojiS = Red;
  • Hammer:
    • Display model: Display_Hammer=true;
    • Color: Color_Hammer = Lime;
  • The hanged man:
    • Display model: Display_Hanged=true;
    • Color: Color_Hanged = Red;
  • Inverted Hammer:
    • Display model: Display_In_Hammer=true;
    • Color: Color_In_Hammer = Lime;
  • The hanged man is upside down:
    • Display model: Display_In_Hanged=true;
    • Color: Color_In_Hanged = Red;
  • Bearish takeover:
    • Display model: Display_B_Engulfing=true;
    • Color for purchase: Color_BE_S = Lime; for sale: Color_BE_R = Red;
  • Marubozu:
    • Display model: Display_Marubozu=true;
    • Color to buy: Color_Marubozu_S = Lime; for sale: Color_Marubozu_R = Red;
  • Three external days up:
    • Display model: Display_TOU=true;
    • Buy color: Color_TOU_S = Lime; Sell color: Color_TOU_R = Red;
  • Three outside day down:
    • Display model: Display_TOD=true;
    • Buy color: Color_TOD_S = Lime; Sell color: Color_TOD_R = Red;
  • Bullish harami:
    • Display model: Display_BH=true;
    • Buy color: Color_BH_R = Lime; Sell color: Color_BH_S = Red;
  • Three days from the inside down:
    • Display Model: Display_TID=true;
    • The color on the purchase Color_TID_S = Lime; for sale: Color_TID_R = Red;
  • Three days from the inside up:
    • Display model: Display_TIU=true;
    • The color on the purchase: Color_TIU_S = Lime; for sale: Color_TIU_R = Red;
  • The morning star:
    • Display model: Display_MS=true;
    • Colour: Color_MS_S=Lime;
  • An abandoned child:
    • Display model: Display_AB=true;
    • Color: Color_AB_S=Lime;
  • Evening Star:
    • Display model: Display_ES=true;
    • Color: Color_ES_R=Red;
  • A curtain of dark clouds:
    • Display model: Display_DC=true;
    • Colour: Color_DC_R=Red;
  • Penetrating line:
    • Display model: Display_PL=true;
    • Color for purchase: Color_PL_R=Red; for sale: Color_PL_S=Lime;
  • Display model: Display_Doji=true;
  • Color for purchase: Color_DojiR = Lime; for sale: Color_DojiS = Red;
  • Display model: Display_Hammer=true;
  • Color: Color_Hammer = Lime;
  • Display model: Display_Hanged=true;
  • Color: Color_Hanged = Red;
  • Display model: Display_In_Hammer=true;
  • Color: Color_In_Hammer = Lime;
  • Display model: Display_In_Hanged=true;
  • Color: Color_In_Hanged = Red;
  • Display model: Display_B_Engulfing=true;
  • Color for purchase: Color_BE_S = Lime; for sale: Color_BE_R = Red;
  • Display model: Display_Marubozu=true;
  • Color to buy: Color_Marubozu_S = Lime; for sale: Color_Marubozu_R = Red;
  • Display model: Display_TOU=true;
  • Buy color: Color_TOU_S = Lime; Sell color: Color_TOU_R = Red;
  • Display model: Display_TOD=true;
  • Buy color: Color_TOD_S = Lime; Sell color: Color_TOD_R = Red;
  • Display model: Display_BH=true;
  • Buy color: Color_BH_R = Lime; Sell color: Color_BH_S = Red;
  • Display Model: Display_TID=true;
  • The color on the purchase Color_TID_S = Lime; for sale: Color_TID_R = Red;
  • Display model: Display_TIU=true;
  • The color on the purchase: Color_TIU_S = Lime; for sale: Color_TIU_R = Red;
  • Display model: Display_MS=true;
  • Colour: Color_MS_S=Lime;
  • Display model: Display_AB=true;
  • Color: Color_AB_S=Lime;
  • Display model: Display_ES=true;
  • Color: Color_ES_R=Red;
  • Display model: Display_DC=true;
  • Colour: Color_DC_R=Red;
  • Display model: Display_PL=true;
  • Color for purchase: Color_PL_R=Red; for sale: Color_PL_S=Lime;

Our Useful Features & Services

Published

05 October 2015

Updated

11 April 2016

Current Version

2.11

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pnutfx503 February 11, 2021 2:28 pm
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Is Very Rewarding

Nari_N February 11, 2021 2:28 pm
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Good job! I love it.

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