Get this indicator here (.mq4)
For those of you who love candlesticks, this indicator is a gem. You no longer have to spend time and effort memorizing and interpreting patterns bar by bar. This indicator shows us what we need to know: up arrow for bullish candlestick patterns, and down arrows for bearish candlestick patterns.
This indicator seems to indicate the following patterns:
- Bullish Engulfing
- Bearish Engulfing
- Dark Cloud Cover
- Hanging Man
- Hammer
- Inverted Hammer Up
- Inverted Hammer Down
- Shooting Star Up
- Shooting Star Down
Due to the nature of candlesticks, we find this indicator more useful for the understanding of short term (in terms of bars) price action.
Please comment below and let us know what other indicators can work together with this one.
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