20# Candlestick Patterns Recognition

Candlestic Patterns indicator MT4 is an power Metatrader 4 tool for scanner candlesticks patterns at all time frame an for all pairs , indices, stocks and commodities.

it is a customizable tool and you can choose the financial instruments to include, then by clicking on the Candlestick Patterns you immediately get the chart.

So from these features described is a simple MT4 tool that facilitates and speeds up our analysis of price patterns of currency pairs and financial markets in general. The Candlestick Patterns detects all types of most profitable patterns that are formed with Japanese candles.

Platform: Metatrader 4

Time frame: 1 min or higher, but the best price patterns are those that are formed at higher time frames because it was detected with the experience that they have greater reliability in forecasting a market price movement.

Currency pairs: any.

Examples of candlesticks patterns

Tasuki Gap continuation pattern. 

Breakaway reversal pattern.

Evening Star / Evening Doji Star / Morning Star / Morning Doji Star

Three Black Crows / Three White Soldiers

Outside Up / Outside Down 

Engulfing Bullish / Engulfing Bearish 

Inside Up / Inside Down,  n addition, the “Candlestick Patterns” indicator also detects the following reversal patterns:

Hammer / Shooting Star / Hanging Man

Piercing / Dark Cloud

Harami

Belt Hold

Kicker

Squeeze Alert

Fakey / Hikake

These are the best continuation patterns in our opinion. When these patterns show up, there’s a high probability that the current trend will continue.

Marubozu

In conclusion it must be remembered that if you want to use the Candlestick Patterns you must filter the signals with trend indicators such as moving averages or the Macd, or with indicators that detect the overbought and oversold of the market such as bollinger bands, RSI and other.