The Candlestick Recognition Master indicator for MT4 scans the Forex market for the most popular bearish and bullish candlestick patterns.
It identifies the following patterns: bullish hammer, morning star, morning doji star, piercing line pattern and bullish engulfing pattern, shooting star, evening star, evening doji star, dark cloud pattern and bearish engulfing pattern.
The indicator can be used on all time frames and for all currency pairs. Patterns formed on higher time frames tend to be more reliable.
Buy: Look for bullish candlestick patterns.
Sell: Look for bearish candlestick patterns.
It is best to use this indicator in combination with others, for example, trend lines, moving averages, oscillators,…
Currency pairs: any
Preferred Time frames: any
Configurable Indicator Options
Colors, show alerts, display pattern (true, false)
How to install the Candlestick Recognition custom indicator in Metatrader 4?
- Download the Candlestick_Recognition_Master.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.