Trading based on candlestick patterns is one of the popular price action methods. This free version of the indicator automatically recognizes seven popular bullish and bearish patterns to trade. The indicator implements a filter to eliminate a set of non-promising patterns. You can select which patterns to be recognized by the indicator. Here is the list of the patterns:
- Bullish Hammer / Bearish Hanging-Man
- Bullish / Bearish Harami
- Morning Star / Morning Doji
- Evening Star / Evening Doji
- Piercing Line / Dark Cloud Cover
- Bullish / Bearish Meeting Lines
- Bullish / Bearish Engulfing
By default, the bullish patterns are drawn in blue and bearish patterns in red.
Input Parameters:
- Hammer Pattern: If it sets to true, Hammer Pattern will be recognized.
- Bullish Harami Pattern: If it sets to true, Bullish Harami Pattern will be recognized.
- Morning Star Pattern: If it sets to true, Morning Star Pattern will be recognized.
- Morning Doji Pattern: If it sets to true, Morning Doji Pattern will be recognized.
- Piercing Line Pattern: If it sets to true, Piercing Line Pattern will be recognized.
- Bullish Meeting Lines Pattern: If it sets to true, Bullish Meeting Lines Pattern will be recognized.
- Bullish Engulfing Pattern: If it sets to true, Bullish Engulfing Pattern will be recognized.
- Hanging Man Pattern: If it sets to true, Hanging Man Pattern will be recognized.
- Bearish Harami Pattern: If it sets to true, Bearish Harami Pattern will be recognized.
- Evening Star Pattern: If it sets to true, Evening Star Pattern will be recognized.
- Evening Doji Pattern: If it sets to true, Evening Doji Pattern will be recognized.
- Dark Cloud Cover Pattern: If it sets to true, Dark Cloud Cover Pattern will be recognized.
- Bearish Meeting Lines Pattern: If it sets to true, Bearish Meeting Lines Pattern will be recognized.
- Bearish Engulfing Pattern: If it sets to true, Bearish Engulfing Pattern will be recognized.
- Filter Patterns?: If it sets to true, the internal filter eliminates non-promising patterns.
- Bullish Pattern Color: The color of bullish patterns.
- Bearish Pattern Color: The color of bearish patterns.
- Pattern Box Line Style: Line style of the pattern box.
- Pattern Box Line Width: Line width of the pattern box.
