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Candle Pattern Confirmations

Candle Confirm Color

What Is It?

The Candle Pattern Confirmations is an advanced indicator for MetaTrader 5 (MT5) designed to identify and confirm candlestick patterns with high probability of trend reversal or continuation. It visually highlights candles that form Engulfing (Bullish/Bearish) and Inside Bars patterns, assisting traders in making more assertive decisions with real-time confirmation.  

Main Features

Automatic Pattern Detection

- Detects Bullish Engulfing and Bearish Engulfing.  
- Identifies Inside Bars, a consolidation pattern that may precede significant movements.  

Real-Time Confirmation

- Not only marks patterns but waits for confirmation on the next candle, increasing signal reliability.  

Intuitive colors

  •   Green → Confirmed Bullish Engulfing.  
  •   Red → Confirmed Bearish Engulfing.  
  •   Blue → Inside Bar with confirmed breakout.  

Trend Filter

- Includes functions to detect uptrend (IsUptrend) and downtrend (IsDowntrend), avoiding false signals in sideways markets.  

How to Analyze the Patterns?

1. Bullish Engulfing (Green) What Is It?

A bullish candle completely engulfs the previous bearish candle, indicating strong buying pressure.  

How to Trade?

- Wait for confirmation: the next candle must close above the Engulfing candle.  
- Ideal in downtrends for potential reversals.  

2. Bearish Engulfing (Red) What Is It?

A bearish candle fully covers the previous bullish candle, signaling strong selling pressure.  

How to Trade?

- Confirmation: next candle closes below the Engulfing candle.  
- Best performance in uptrends, warning of potential reversals.  

3. Inside Bar (Blue) What Is It?

A candle with highs and lows contained within the previous candle, indicating indecision before a breakout.  

How to Trade?

- Breakout upwards (bullish) → Target above the previous candle's high.  
- Breakout downwards (bearish) → Target below the previous candle's low.  
- Excellent for breakout traders during consolidation periods.  

Advantages of the Indicator

- Visual Clarity – Highlighted colors allow quick pattern identification.  
- Confirmation Enhances Accuracy – Avoids premature entries by filtering only validated signals.  
- Versatility – Works on any timeframe (M1, H1, D1, etc.) and asset (Forex, Stocks, Indices).  
- Optimized Code – Lightweight and efficient, without overloading MT5.  

Conclusion

The Candle Pattern Confirmations is a powerful tool for traders using candlestick analysis. It not only identifies classic patterns but also increases reliability by requiring confirmation, reducing false signals. If you seek a more objective way to trade reversals and breakouts, this indicator can be a strong ally in your strategy.  

Tip: Combine it with moving averages or support/resistance for greater effectiveness.







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5 (1)
Next Generation Of Automated Supply And Demand Zones. New and Innovative Algorithm that Works At Any Chart. All Zones Are Being Created Dynamically According To Price Action Of The Market. AMAZING OFFER --> Activations from 5 to 20 for "MTF Supply Demand Zones" and "Automated Trendlines" TWO TYPES OF ALERTS -->  1) WHEN PRICE HITS A ZONE    2)WHEN A NEW ZONE IS FORMED  If you get the MTF Supply Demand Zones you can join the " Trade Like Me " Video Series. It contains 14 Live Sessions where 
Top indicator for MT5   providing accurate signals to enter a trade without repainting! It can be applied to any financial assets:   forex, cryptocurrencies, metals, stocks, indices .  Watch  the video  (6:22) with an example of processing only one signal that paid off the indicator! MT4 version is here It will provide pretty accurate trading signals and tell you when it's best to open a trade and close it. Most traders improve their trading results during the first trading week with the help of
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