Candle forex indicator. Wouldn’t it be great if there was an indicator that could help you identify candlestick patterns? I recently tested a bunch of the most popular indicators of this kind to find out which is the best candlestick pattern indicator for MT4. The Pattern Recognition Master indicator.

Candle forex indicator

Candlestick Patterns Indicator for Metatrader (MT4/MT5)

Candle forex indicator. Candlestick charts are a technical tool that pack data for multiple time frames into single price bars. This makes them more useful than traditional open-high, low-close bars (OHLC)​ or simple lines that connect the dots of closing prices. Candlesticks build patterns that predict price direction once completed.

Candle forex indicator


It can detect all the commonly used patterns, flag them on your chart, and send you notifications when they form.

The candlestick reversal pattern I trade the most. Best used when it shows strong rejection of important technical factors in your analysis.

A well known price action signal, communicates a potential reversal pending in the market. Commonly used with strong support and resistance analysis. A candle which trades completely outside the previous candle's range. Can signal a reversal or trend continuation. A very strong signal, depending on its context. A very common candlestick pattern. Hard to trade without good quality control by the trader. The Battle Station has quality control algorithms built in for the inside candle.

An awesome candlestick for building a breakout trade around. Best used at major decision points on your chart, where you expect a 'break or bounce'.

A follow through move from the 'Asia session fakeout' - where we see a breakout attempt fail usually in Asia , then trigger a breakout in the opposite direction in the money sessions. This includes your iPhones, iPads, Galaxy phones and other Android phones and tablets. The notification system will give you a better way to manage your time, and your life around your trading by removing the need to sit in front of the screen for hours waiting for your favorite price action pattern to form.

Load the Battle Station on the charts, let it do the hard work for you, and send you a notification to your device when it finds something. We do not want to be alerted to every single pattern that forms, otherwise the messages will become 'spam like'.

The Battle Station has a few built-in quality control features, so you're only notified of the better quality signals. The candle range filter will skip over candlestick patterns that are either too small, or too big to be a viable trade opportunity.

Allow reversal candles to pass only if their high or low price create a new recent swing high or low on the chart. This helps avoid notifications about candles that formed in the middle of consolidation or turbulent price action. The Battle Station works seamlessly with Renko charts on MT4, offering Renko traders some very convenient notifications and pattern recognition when trading with Renko strategies.

The Renko Engulfing candlestick is a reversal setup that can kick off large moves on the chart. The Battle Station can detect this pattern and send you notifications when they form. Because Renko is a non-time based chart — its difficult to know when a new Renko candle will form. One of the advanced Renko notification options is a 'only notify on direction change'. Simply draw out consolidation on the chart, and the battle station will fire off a message when a breakout occurs Looks at your horizonal levels and trend lines to customize alerts!

Another of my other crazy inventions is a tool which allows you to build your own customized price action! It's' called the 'Chart Builder', and it will allow you to generate charts that no one else has access to When I was creating the Battle Station, I spent the extra time to make it compatible with the custom charts you can output from the MT4 chart builder.

Whenever you attach the Battle Station onto one of the custom charts, the notifications sent to your smart phone are custom tailored to give you specific information about the custom chart where signal alert is coming from. I don't offer the Battle Station, The Chart Builder, or any of my other software as individual items.

Rejection Candle The candlestick reversal pattern I trade the most. Pin Bar A well known price action signal, communicates a potential reversal pending in the market.

Outside Candle A candle which trades completely outside the previous candle's range. Inside Candle s A very common candlestick pattern. Indecision Doji An awesome candlestick for building a breakout trade around.

Reversal Candle Chart Markers. Inside Candle Chart Markers. Options The Candlestick Drawing Options. Notifications contain pair and time frame information Notifications outline the event, or candlestick pattern that was detected Control what patterns and events you are alerted about. Options The Signal Notification Options. Range Filter The candle range filter will skip over candlestick patterns that are either too small, or too big to be a viable trade opportunity.

Options Signal Quality Control Options. Range Engulfing Detection The Renko Engulfing candlestick is a reversal setup that can kick off large moves on the chart. They are often found at the top or bottom of big market moves.

New Renko Candlestick Alerts Because Renko is a non-time based chart — its difficult to know when a new Renko candle will form. Renko Direction Change Notifications One of the advanced Renko notification options is a 'only notify on direction change'. For example; Last Renko candle was bullish, and a bearish Renko candle forms the last Renko candle was bearish, and a bullish Renko candle forms. Options Renko Charting Options. Feature Consolidation Breakout Candle Detection Simply draw out consolidation on the chart, and the battle station will fire off a message when a breakout occurs Box Consolidation Breakout Alerts.

Highlight Box Consolidation with the Rectangle Tool. Wait for Breakout Candle Messages. Triangle Squeeze Consolidation Breakout Alerts. Highlight Squeeze Patterns with the Triangle Tool. Mark Out Your Trend Lines.

Be Notified when a Candle Breaks Through. Options Breakout Detection Options. Signal off horizontal resistance. Signal off horizontal support. Signal off trend line support. Signal off trend line resistance. Signal off box resistance.

Signal off squeeze support. Signal off mean value. Options Price Action Tool Settings. To get an idea of what I mean, take a look at some of the examples below Renko Box Breakout Candle Signal.

So You Want the Battle Station? All my tools are available to War Room traders only


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