The Candlestick Pattern Finder For MT4 draws a variety of interesting candlestick patterns on the Metatrader 4 chart.
Candlestick patterns are widely used by chartists to forecast future currency prices.
The Candlestick Pattern Finder indicator draws the following patterns on the chart:
DarkCloud, Hammer, BullPierce, BullCross, BearCross and Morning Star.
It’s strongly recommended to combine candlestick patterns with a trading strategy or system.
Candlestick patterns can help to pinpoint trade entry and exit in an existing trend.
Just load the Candlestick Pattern Finder indicator onto the Metatrader 4 chart and start trading with it in minutes.
- Finds interesting candlestick patterns on the MT4 chart.
- Includes an alert system.
- Used by many financial traders worldwide.
Feel free to explore the Candlestick Pattern Finder indicator’s different parameters and settings to create your own personalized indicator setup.
Indicator Example Chart
Here’s an example (EUR/USD H4 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Signals With The Candlestick Pattern Finder MT4 Forex Indicator
Buy Signal: Execute a buy trade when a bullish candlestick pattern appears on the chart. Confirm the buy trade with additional trading indicators.
Set stop loss below support, or use your own favorite stop loss strategy.
Exit the buy trade for a reward/risk ratio of 1.5 or better, or use your own favorite take profit method.
Alternatively, exit the buy trade close to prior resistance.
Sell Signal: Execute a sell trade when a bearish candlestick pattern appears on the chart. Confirm the sell trade with additional trading indicators.
Set stop loss above resistance, or use your own favorite stop loss strategy.
Exit the sell trade for a reward/risk ratio of 1.5 or better, or use your own favorite take profit method.
Alternatively, exit the sell trade close to prior support.
Download This Forex Indicator
Adjustable Parameters & Settings
Alert ON, draw candle, color, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: candlestick pattern
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.