forex indicators worthy of attention and analysis are published in this category. The Nison Candle Highlighter accurately identifies each candlestick pattern, as you might imagine, but it also identifies each candlestick pattern within the proper context of the market. Most of them seemed to have a problem with their labels in one form or another, which may not be a big deal to you.
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Add to the fact the chart is already crowded, because the indicator has no option to use abbreviated labels, the labels also crowd the candlesticks that theyre identifying (see the image above). Thats where the candlestick indicator comes in very handy. Instead, you chose from strong reversals, weak reversals, continuations, and unclassified patterns. It would be the confirmation. Any abbreviated letters that form above a candlestick high indicates bearish candlestick patterns and any that forms below the low of a candlestick indicate that that specific candlestick is bullish. The standard trend line trading strategy could also be used as a reversal area and you would only trade if the pattern recognition software plots one of the 10 candlestick patterns Candlestick Pattern Indicator Download Link Heres your download link to the Candlestick pattern indicator. Steve Nison is THE authority on candlesticks. If you are looking for a Forex candlestick pattern indicator MT4, heres one that Ive found that is really good and it is called the It is a free candlestick pattern recognition indicator for Metatrader that will show: Bullish patterns, bearish patterns, with price action. This chart is a weekly (I prefer higher time frame charts) and only shows 2 different types of candlestick reversal patterns: Bullish hammer, bearish engulfing, you could actually use these weekly candlesticks to have a bias for the coming week on lower time frame charts. Your Quest Candlestick Pattern Indicator.0.1 free download will start in a few seconds. How well does it identify candlestick patterns? You can be trading in any time frame using this candlestick pattern indicator and it will still show any reversal candlestick that forms in the time frame your chart.