Candlestick Patterns Analytics is a powerful tool for analyzing candlestick patterns. Do you trade based on candlestick patterns? Then Candlestick Patterns Analytics is designed for you.
The undeniable advantage of the indicator:
- Predicts trading result when trading candlestick patterns;
- Uses statistical data based on the history of the selected symbol and timeframe.
What the indicator does
- Finds and marks on the chart 29 candlestick patterns;
- Draws arrows to indicate the classical and statistical trade direction;
Description of Input Parameters
- ShowTable – Show/hide the table;
- Candle_X – the serial number of the candlestick after pattern formation, a detailed report for which will be displayed in the table;
- Spread – the average symbol spread in points;
- MinCount – the minimum number of candlestick patterns in history for the calculation of statistic;
- MinWin – the minimum percent of the winning direction;
- MinMathExp – the minimum mathematical expectation in points;
- TextSize – text size, determines the size of the table and text of candlestick pattern names on the chart;
- ShowText – show the text of candlestick pattern names on the chart;
- TextColor – the color of the text of candlestick pattern names on the chart;
- Alert Classic – alert for classical trading;
- Alert Statistics – alert for statistical trading;
- ———- Candlestick Patterns ————- – separators;
- AdvanceBlock – candlestick pattern;
- BeltHoldLine – candlestick pattern;
- CounterattackLines – candlestick pattern;
- DarkCloudCover – candlestick pattern;
- Doji – candlestick pattern;
- Engulfing – candlestick pattern;
- EveningStar – candlestick pattern;
- Gap – candlestick pattern;
- GravestoneDoji – candlestick pattern;
- Hammer – candlestick pattern;
- HangingMan – candlestick pattern;
- Harami – candlestick pattern;
- InvertedHammer – candlestick pattern;
- LongLeggedDoji – candlestick pattern;
- MatHoldPattern – candlestick pattern;
- MorningStar – candlestick pattern;
- OnNeckLine – candlestick pattern;
- Piercing – candlestick pattern;
- SeparatingLines – candlestick pattern;
- ShootingStar – candlestick pattern;
- SideBySideWhite – candlestick pattern;
- StalledPattern – candlestick pattern;
- TasukiGap – candlestick pattern;
- ThreeCrows – candlestick pattern;
- ThreeLineStrike – candlestick pattern;
- ThreeMethods – candlestick pattern;
- ThreeWhiteSoldiers – candlestick pattern;
- Tweezer – candlestick pattern;
- UpsideGapTwoCrows – candlestick pattern;
Description of the table
History block (screenshot 2):
- Model – pattern name;
- Type – classical trade direction;
- Count – the number of patterns in history.
Buy trading block (screenshot 2):
- Count – the number of winning patterns;
- Win, % – the percent of winning patterns;
- Summ Close – the amount of wins since the opening of the first candlestick after the pattern till the close of the “X”th candlestick;
- AV – average gain in points;
- Summ High – the sum of highs in the range from the opening of the first candlestick after the pattern till the close of the “X”th candlestick;
- AV – the average high in points;
- ME – mathematical expectation of profit in points.
Sell trading block (screenshot 3):
- Count – the number of winning patterns;
- Win, % – the percent of winning patterns;
- Summ Close – the amount of wins since the opening of the first candlestick after the pattern till the close of the “X”th candlestick;
- AV – average gain in points;
- Summ Low – the sum of lows in the range from the opening of the first candlestick after the pattern till the close of the “X”th candlestick;
- AV – the average high in points;
- ME – mathematical expectation of profit in points.
Candlestick analysis block (screenshot 3):
- X = 4 – the number of the candlestick after the pattern, a detailed report for which will be displayed (Block 2 and Block 3);
- 1 – 8 – candlestick after the pattern, for which a brief conclusion will be presented.
Cells Count, Win, ME are colored in green if the appropriate values are exceeded.
Cells X, 1 -8 – when exceeded simultaneously.
For example, on the attached screenshots, we can select good working patterns for the analyzed pair and timeframe: AdvanceBlock Down (Buy), BeltHoldLine Down (Buy), CounterattackLines Down (Sell).
Only a few patterns can be tested in the Strategy Tester.
It is recommended to use the Candlestick Patterns Custom indicator in Expert Advisors.