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ReversalPatterns

This technical indicator automatically identifies and analyzes price action using a variety of Reversal Candlestick Patterns on the chart. It conveniently draws arrow signs along with the corresponding pattern names, making it easy to spot the latest reversal candlestick patterns. With this indicator, you can quickly identify and compare chart analysis with previously identified candle patterns.

The indicator includes a range of implemented candlestick patterns, both simple and complex, such as Dragonfly Doji, Gravestone Doji, Hammer, Pin Bar, and more. These patterns are filtered based on the prevailing trend and historical data, ensuring reliable signals. The indicator visually represents the identified patterns by drawing arrows and displaying the pattern names on the chart. Furthermore, you have the flexibility to customize the arrow type and colors of all objects for a better visual experience.

In addition to its pattern identification capabilities, the indicator provides various parameters for customization. You can set the colors for buy and sell signals, choose specific characters for the arrow signs, and adjust the distance at which the arrows are drawn from the candle high/low. Furthermore, the "Hi-Lo Margin" parameter allows you to define the margin level from the day's high and low for analyzing candlestick patterns.

With its comprehensive features and user friendly interface, this indicator is a valuable tool for traders seeking to leverage the power of candlestick patterns in their technical analysis. 


    Parameters

    • Graphic Parameters - Customize visual appearance and colors.
      • Other parameters - Customize common indicator conditions.
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      Version 1.2 2019.05.02
      1. Optimized Candlestick Patterns detection parameters.
      2. Optimized complete algorithm for fast activity rather than v1.1
      3. Added new Candlestick Patterns.
      4. Updated the product logo.
      5. Removed some parameters from input window and added new parameters.
      6. Added pattern names.
      Version 1.1 2018.03.27
      1. Improved Inverted Hammer Filters.