The AW Candle Patterns indicator is a flexible technical evaluation software that mixes development filtering and automated detection of single-, double- and triple-candle candlestick patterns. Its versatile settings mean you can adapt the show of alerts to any buying and selling technique.
Helpful hyperlinks:
AW_Candle_Patterns_MT4 Free Demo – Right here
AW_Candle_Patterns_MT5 Free Demo – Right here
💡 Suggestions to be used
- Timeframes: Works finest from M15 and above.
- Devices: Could be utilized to forex pairs, shares, indices, cryptocurrency.
- Testing: Earlier than utilizing on an actual account, it is strongly recommended to check the indicator on historical past and in demo mode.
📦 A handy software that lets you:
• Work with out deep data of candlestick evaluation – patterns are decided routinely.
• Shortly determine dependable candlestick alerts.
• Work each with and towards the development.
• Use the software for buying and selling each intraday and medium-term.
• Scale back false alerts utilizing filtering.
• Appropriate for each learners and skilled merchants to create their very own buying and selling programs.
• Appropriate for each handbook buying and selling and as a part of semi-automated methods.
⚙️ Primary features and settings
- Sample Show: Person can choose which varieties of 30 patterns to show and which to cover.
- Filtering by development: the indicator can show solely these patterns that correspond to the route of motion, or, quite the opposite, those who work towards the development.
- Adjustable sign severity. An adjustable interval is constructed into the development show to regulate the severity of the alerts.
- Filtering by variety of candles. The dealer can set the kind of patterns to be displayed, for instance, solely one-candle, two-candle or three-candle patterns.
- Visible cues: Every sample is assigned a label on the chart.
Useful
🔧 1. Pattern Filtering Mode
One of many key parameters of the indicator is filtering alerts relying on the route of the present development. This helps to filter out weak or contradictory alerts.
• Sample by development – solely alerts that match the present development are displayed. Splendid for working within the route of motion.
• Patterns towards development – solely alerts towards the development are displayed. Appropriate for buying and selling on reversals.
• Don’t examine development – all patterns are displayed with out making an allowance for the development. Used for extra aggressive or handbook methods.
🔁 Pattern Filter interval — lets you regulate the “depth” of development evaluation.
• Smaller values (eg 3) are extra delicate to adjustments.
• Massive values (20+) clean out the development, making it extra steady.
It’s helpful to pick out in keeping with the timeframe: the upper the TF, the longer the interval might be.
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🕯️ 2. Managing Sample Varieties
The indicator lets you flexibly configure which varieties of candlestick patterns might be displayed:
• Present one candle patterns — allow/disable one-candle patterns (e.g. Hammer, Doji).
• Allow two candles patterns — show two-candle patterns (for instance, Engulfing, Harami).
• Allow three candle patterns – allow three-candle patterns (for instance, Morning Star, Darkish Cloud Cowl).
This setting permits the dealer to focus, for instance, solely on the extra dependable three-candle alerts or, conversely, on quick one-candle entries.
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📏 3. Calculation and efficiency
• Max Bars — determines on which part of the chart to search for alerts. Rising the worth provides a extra full image, however could decelerate the work on weak PCs.
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🎨 4. Visible settings and comfort
The indicator is provided with a customizable graphical panel, which makes its use intuitive and visible.
Panel:
• ShowPanel:
• Don’t present panel – cover the panel, solely visible alerts on the chart.
• Present medium panel – compact panel.
• Present massive panel — prolonged panel with info (for big screens).
Customise the looks:
• Font measurement in panel—textual content measurement within the panel.
• Y offset / X offset — the vertical and horizontal place of the panel.
• Uptrend Colour Panel / Downtrend Colour Panel — panel background colours relying on the development route.
Show patterns:
• Present Sample textual content – allow/disable sample labels instantly on the chart.
• Font measurement / Font identify – textual content measurement and elegance.
• Patterns textual content colour — colour of the sample identify textual content.
These parameters mean you can tailor the show to your particular person buying and selling fashion and preferences.
Examples of utility in commerce
📍 1. Entry within the route of the development
• Pattern filtering is enabled. Allow Sample by development. Set Pattern Filter interval.
• Use development affirmation patterns (eg Bullish Engulfing, Drive Bar Up) The Bullish Engulfing sample seems on an uptrend.
• The dealer enters a protracted place after the sign candle closes. Open positions within the route of the principle motion after the sign candle.
• Cease loss – under the minimal of the sign candle.
• Take revenue – on the stage of the closest resistance or at a ratio of two:1.
📍 2. Reversal at a key stage
• Activate Patterns towards development and allow show of 2-3 candlestick patterns (Taking pictures Star, Darkish Cloud Cowl, Morning Doji Star.)
• Search for alerts close to assist/resistance ranges, resistance stage on H1.
• The indicator acknowledges, for instance, Taking pictures Star or Night Star at this stage.
• The dealer opens a brief place with a brief cease and stuck revenue.
📍 3. Mixed technique
• Used with one other indicator (eg RSI or MACD).
• The indicator exhibits Drive Bar Up towards the background of RSI divergence – this will increase the chance of a reversal.
• The dealer opens a commerce with affirmation from each sources.
📍 4. Multi-screen buying and selling
• Arrange Present panel on the monitor.
• Activate textual content options and filtering.
• Visually monitor the marketplace for a number of symbols on the similar time.
Purchase the indicator now:
AW_Candle_Patterns_MT4 👉 Right here
AW_Candle_Patterns_MT5 👉 Right here
Description of candlestick patterns:
1. 🔨 Hammer Sample:
One-candlestick bullish reversal sample.
Hammer seems after a pronounced downward motion. It signifies a possible cease of the decline and a reversal upward. Look at an necessary assist stage. Excessive quantity throughout the formation of the candle.
2.📍Pin Up / Pin Down
A single candlestick sample with a protracted wick and a brief physique.
A pin bar is fashioned on account of a pointy rejection of a sure stage by the value.
- Pin Up typically seems on the backside of a development, indicating a buyout and a doable upward reversal.
- Pin Down is fashioned on the high of development and alerts a doable downward reversal.
- Pin Up – a bullish sign after a fall.
- Pin Down is a bearish sign after development.
3. ⚖️ Bearish Harami / Bullish Harami
Two-candle reversal sample. The sample signifies a slowdown within the present development and a doable reversal
- Bullish Harami – a small bullish candle inside a big bearish one – a reversal sign upwards, a bullish sign, seems after a downtrend.
- Bearish Harami – a small bearish candle inside a big bullish one – a downward sign, a bearish sign, seems after an uptrend.
4. ❎ Bearish Harami Cross / Bullish Harami Cross
Like Harami, however the second candle is a doji, reinforcing the reversal sign.
5. 🔄 Pivot Level Reversal Up/Down
Reversal, three-candle. This can be a basic worth reversal primarily based on figuring out a neighborhood minimal or most, after which the market can change route.
- Up — a sequence of candles the place the minimal isn’t up to date and a breakout upwards happens, a sign of a doable upward reversal (bullish).
- Down — the utmost isn’t up to date and a downward breakout is a downward reversal sign (bearish).
6.🟫 Double Bar Low With A Greater Shut / Decrease Shut
Reversal, three-candle, with parts of a repeated take a look at of the extent and a affirmation sign by means of closing.
- Greater Shut – two lows on the similar stage, however the second candle closes larger – an upward sign.
- Decrease Shut — comparable, however the second candle closes decrease — sign down.
(Double Backside/High with Shut Affirmation)
7. 🔚 Shut Worth Reversal Up / Down
Reversal, two-candle.
- Up — the candle closes larger after the earlier decline — a doable upward reversal, a bullish sign.
- Down – closing decrease after development – downward reversal, bearish sign.
This sample is constructed on the precept of taking up the initiative by means of the closing worth, with out pronounced shadows or our bodies, as in different candlestick patterns. The principle focus is on the change within the route of the candlestick closing, indicating a change in market sentiment.
8. ⏸️ Impartial Bar / Two Impartial Bars
A sample of uncertainty and doable preparation for a reversal or impulse.
- Impartial Bar – a single candle.
- Two Impartial Bars – two consecutive impartial candles that strengthen the sign.
Candles with small our bodies and lengthy shadows sign market indecision, Two Impartial Bars – repeated uncertainty, presumably earlier than a pointy transfer.
The looks of a impartial candle (or two) signifies a state of market equilibrium, when neither bulls nor bears dominate. This typically occurs: at reversal factors, throughout consolidation, earlier than a stage breakout.
9. 🧩Double Inside / Inside / Outdoors Bar
Two- candle sample.
- Inside Bar – a candle fully contained in the earlier one – volatility compression.
- Double Inside – two in a row contained in the earlier ones – robust compression.
- Outdoors Bar – the present candle absorbs the earlier one – impulse sign.
10. 💪 Drive Bar Up/Down
Fashionable single candlestick sample. Candles with a robust physique and route:
- Up — a robust bullish candle, doable continuation of development.
- Down — a robust bearish candle, doable continuation of the decline.
Impulse, signaling a pointy improve in stress from patrons or sellers. Can function the start of a robust motion or affirmation of the present development.
11. ⭐️ Night Star / Morning Star
Three-candle reversal sample.
- Morning Star – reversal up after a fall (bullish) .
- Night Star – reversal down after development (bearish) .
12. ✨ Night Doji Star / Morning Doji Star
A “star” variation, the place the second candle is a doji, reinforcing the reversal.
A 3-candle reversal sample, with particular emphasis on the second candle – doji (a candle with a really small physique, reflecting market indecision).
- Night Doji Star – a downward reversal is fashioned.
- Morning Doji Star – reversal upward.
13. 🐍 Engulfing Bearish Line/Bullish Line
A reversal two-candlestick sample signaling a change in market sentiment
- Bullish — a bullish candle engulfs the physique of the earlier bearish one — a reversal upwards. A robust sign to enter lengthy positions.
- Bearish – bearish engulfs bullish – downward reversal. Sturdy sign to open quick positions.
14. 🪞 Mirror Bar
A reversal sample indicating a doable change in worth route. The physique of 1 candle mirrors the earlier one – could point out a change in route.
- The candle displays a change in market sentiment – a change in stress from patrons to sellers or vice versa.
- Could point out a reversal or a robust response to a assist/resistance stage.
15. 🌠 Taking pictures Star
A single candlestick sample, a candlestick with a protracted higher shadow and a small physique is a promote sign after development. A downward reversal candlestick after development, signaling robust vendor stress.
- Typically serves as a warning of a development reversal or correction.
- Stronger if it seems close to resistance ranges.
16. ☁️ Darkish Cloud Cowl
A two-candle reversal sample that alerts a change in development from bullish to bearish. The primary candle is bullish, the second is bearish, opens with a spot up and closes under the center of the primary. A sign of robust resistance and a doable reversal down.
17 🌟 Doji Star
Two-candlestick sample: after a robust candle, a doji seems, signaling a doable reversal.
A candle with an open and shut at virtually the identical stage, reflecting the stability between patrons and sellers
- Typically seems as a part of reversal or steady patterns (for instance, Morning Star, Night Star).
- Could sign a change in development if confirmed by subsequent candles.
Purchase the indicator now:
MT4 model
👉 https://www.mql5.com/en/market/product/84305
MT5 model
👉 https://www.mql5.com/en/market/product/83325
AW Buying and selling Software program
Help: https://www.mql5.com/en/customers/nechaevrealle
