Japan Candlestick Patterns Indicator for MetaTrader 5

Candlestick pattern indicator applied over SBI equity 15 mins chart

Candlestick patterns are technical analysis tools which have been used for decades to predict the direction of price movement. This indicator helps in identifying the patterns and plot in the chart. In the above image you can see how the patterns are plotted – bullish patterns are marked with blue boxes and blue text & bearish patterns are marked with red boxes and red text.

Some of the patterns which are recognized are – Doji Star, Morning Star, Bullish/Bearish Harami, Bullish/Bearish Engulfing, Three Inside Up/Down, Three Outside Up/Down, Hanging man, Hammer, Inverted Hammer, On Neck, Matching Low/High, etc.

The pattern indicator when used along with Supports, Resistances & Pivots will give very good results.

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