Japanese Candle Pattern Indicator
Graphical analysis on Japanese candles is very popular among traders. Many traders like to trade using pork patterns, because with them it becomes easier to recognize pork models, it is a great solution for both beginners and more experienced traders.
Characteristics of the indicator
Platform: MetaTrader 4.
Currency couples: any.
Trade time: round the clock.
Settings of the indicator
Show strong reversal potterns - display of strong moodles.
Show weak reversal patterns - display of broken moodles.
New connection points - display of trend conditions.
Show Unclassified - The number of additional items.
View Bars - only the following candles to take into account.
Sound Alert is a sound signal when a candle moodel occurs.
Sell Color is a line down for bearish signals.
Buy Color is a string of bovine signals.
Text Color is the tecst of the graph.
Operation of the indicator
Once a certain candle model occurs, the indicator signals this by drawing an arrow according to the continuation/reversal pattern and naming the candle model.
List of combinations of Japanese candles that can recognize the indicator:
Hung-up (Hanging Man)
Model of Absorption (Engulfing)
Dark Cloud cover
Tweezer Tops and Bottoms
Zahwat za poyas (Belt Hold Line)
Double whipped vorons (Upside gap two crows)
Mat _ Hold _ Pattern
Counterattack (counterattack lines)
Division (separating lines)
Dodges - a gravestone (gravestone doji)
Bear and Bull doji
Tasuki gap (tasuki gap)
Three metodes (three methods)
Three feet, basee (three river bottom)
Three white soldiers
Braking (stalled pattern)
Upside Gap Three Methods and Downside Gap Three Methods
Troynaya udar (Three-line strike)
At the shea line (On Neck Line)
As you may have noticed, there are a lot of pork models, so for your convenience I recommend to leave in settings only the most significant.
I want to remind you that pork models work better from levels. The indication itself from this indicator is by no means a signal to open the position. We just get a clue that a candle model has been formed, and then, combined with the trading strategy, a decision is already made to open a deal or not.
Here is another of my articles about the Bollinger lane indicator, which I suggest you study.