The Candle Pattern indicator identifies several popular candle-stick patterns which are then high-lighted on the chart.
The Candle Pattern Scanner further enhances this capability by simultaneously analysing multiple instruments at different time-frames. The indicator displays a “mini-chart” for each specified instrument and time-frame combination, showing the currently identified candle pattern (if any).
This indicator utilizes the Candle Pattern Indicator directly, and therefore uses the same mechanisms and formula to detect the candle patters. Please refer to the Candle Pattern Indicator for details of this operation.
The following patterns are supported: Doji, Spinning Top, Hammer, Shooting Star, Inverted Hammer, Hanging Man, Marubozu, Bullish Engulfing, Bearish Engulfing, Piercing Line, Dark Cloud, Bullish Harami, Bearish Harami, Morning Star, Evening Star.