The AW Candle Patterns indicator is a flexible technical evaluation instrument that mixes pattern filtering and automated detection of single-, double- and triple-candle candlestick patterns. Its versatile settings will let you adapt the show of indicators 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 greatest from M15 and above.
- Devices: Might be utilized to forex pairs, shares, indices, cryptocurrency.
- Testing: Earlier than utilizing on an actual account, it is suggested to check the indicator on historical past and in demo mode.
📦 A handy instrument that permits you to:
• Work with out deep information of candlestick evaluation – patterns are decided mechanically.
• Shortly establish dependable candlestick indicators.
• Work each with and in opposition to the pattern.
• Use the instrument for buying and selling each intraday and medium-term.
• Cut back false indicators utilizing filtering.
• Appropriate for each newcomers 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.
⚙️ Fundamental features and settings
- Sample Show: Consumer can choose which kinds of 30 patterns to show and which to cover.
- Filtering by pattern: the indicator can show solely these patterns that correspond to the course of motion, or, quite the opposite, people who work in opposition to the pattern.
- Adjustable sign severity. An adjustable interval is constructed into the pattern show to regulate the severity of the indicators.
- 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.
Practical
🔧 1. Pattern Filtering Mode
One of many key parameters of the indicator is filtering indicators relying on the course of the present pattern. This helps to filter out weak or contradictory indicators.
• Sample by pattern – solely indicators that match the present pattern are displayed. Ultimate for working within the course of motion.
• Patterns in opposition to pattern – solely indicators in opposition to the pattern are displayed. Appropriate for buying and selling on reversals.
• Don’t verify pattern – all patterns are displayed with out making an allowance for the pattern. Used for extra aggressive or handbook methods.
🔁 Pattern Filter interval — permits you to modify the “depth” of pattern evaluation.
• Smaller values (eg 3) are extra delicate to modifications.
• Massive values (20+) easy out the pattern, making it extra steady.
It’s helpful to pick in accordance with the timeframe: the upper the TF, the longer the interval will be.
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🕯️ 2. Managing Sample Varieties
The indicator permits you to flexibly configure which kinds of candlestick patterns will likely 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 indicators 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 indicators. Rising the worth offers 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 – disguise the panel, solely visible indicators on the chart.
• Present medium panel – compact panel.
• Present massive panel — prolonged panel with info (for giant 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 Coloration Panel / Downtrend Coloration Panel — panel background colours relying on the pattern course.
Show patterns:
• Present Sample textual content – allow/disable sample labels instantly on the chart.
• Font measurement / Font title – textual content measurement and magnificence.
• Patterns textual content shade — shade of the sample title textual content.
These parameters will let you tailor the show to your particular person buying and selling fashion and preferences.
Examples of software in commerce
📍 1. Entry within the course of the pattern
• Pattern filtering is enabled. Allow Sample by pattern. Set Pattern Filter interval.
• Use pattern affirmation patterns (eg Bullish Engulfing, Pressure Bar Up) The Bullish Engulfing sample seems on an uptrend.
• The dealer enters an extended place after the sign candle closes. Open positions within the course of the principle motion after the sign candle.
• Cease loss – under the minimal of the sign candle.
• Take revenue – on the degree of the closest resistance or at a ratio of two:1.
📍 2. Reversal at a key degree
• Activate Patterns in opposition to pattern and allow show of 2-3 candlestick patterns (Taking pictures Star, Darkish Cloud Cowl, Morning Doji Star.)
• Search for indicators close to help/resistance ranges, resistance degree on H1.
• The indicator acknowledges, for instance, Taking pictures Star or Night Star at this degree.
• 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 Pressure Bar Up in opposition to the background of RSI divergence – this will increase the likelihood 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 ideas and filtering.
• Visually monitor the marketplace for a number of symbols on the identical 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 help degree. Excessive quantity through the formation of the candle.
2.📍Pin Up / Pin Down
A single candlestick sample with an extended wick and a brief physique.
A pin bar is fashioned because of a pointy rejection of a sure degree by the value.
- Pin Up usually seems on the backside of a pattern, indicating a buyout and a doable upward reversal.
- Pin Down is fashioned on the high of development and indicators 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 pattern 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. It is a traditional worth reversal primarily based on figuring out an area minimal or most, after which the market can change course.
- Up — a collection of candles the place the minimal just isn’t up to date and a breakout upwards happens, a sign of a doable upward reversal (bullish).
- Down — the utmost just isn’t up to date and a downward breakout is a downward reversal sign (bearish).
6.🟫 Double Bar Low With A Increased Shut / Decrease Shut
Reversal, three-candle, with components of a repeated check of the extent and a affirmation sign by way of closing.
- Increased Shut – two lows on the identical degree, however the second candle closes increased – an upward sign.
- Decrease Shut — related, however the second candle closes decrease — sign down.
(Double Backside/High with Shut Affirmation)
7. 🔚 Shut Value Reversal Up / Down
Reversal, two-candle.
- Up — the candle closes increased 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 on the initiative by way 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 course 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 usually occurs: at reversal factors, throughout consolidation, earlier than a degree 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. 💪 Pressure Bar Up/Down
Stylish single candlestick sample. Candles with a powerful physique and course:
- Up — a robust bullish candle, doable continuation of development.
- Down — a powerful bearish candle, doable continuation of the decline.
Impulse, signaling a pointy enhance in stress from consumers or sellers. Can function the start of a powerful motion or affirmation of the present pattern.
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 course. The physique of 1 candle mirrors the earlier one – could point out a change in course.
- The candle displays a change in market sentiment – a change in stress from consumers to sellers or vice versa.
- Could point out a reversal or a powerful response to a help/resistance degree.
15. 🌠 Taking pictures Star
A single candlestick sample, a candlestick with an extended higher shadow and a small physique is a promote sign after development. A downward reversal candlestick after development, signaling robust vendor stress.
- Usually serves as a warning of a pattern reversal or correction.
- Stronger if it seems close to resistance ranges.
16. ☁️ Darkish Cloud Cowl
A two-candle reversal sample that indicators a change in pattern 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 powerful candle, a doji seems, signaling a doable reversal.
A candle with an open and shut at nearly the identical degree, reflecting the stability between consumers and sellers
- Usually seems as a part of reversal or steady patterns (for instance, Morning Star, Night Star).
- Could sign a change in pattern 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
