Monday 28 November 2016

Candle Pattern Indicator

I'm currently developing a candle pattern indicator. Actually this is something that I had started a year or so ago, but never completed. Finally getting around to finishing it off!

There will actually be 2 indicators (released as a set).

Candle Pattern indicator will detect common Japanese candlestick patterns, e.g. Doji, Spinning Top, Bullish/Bearish Engulfing, Morning Star, Hammer, etc.


Candle Pattern Scanner, will implement the same pattern matching rules, but will do so for a number of instruments (e.g. all forex majors, all forex, all instruments, custom list, etc.). The indicator is similar to my Multi-Indicator indicator and will draw a "min-chart" of the last few candles and the most recently detected candlestick pattern.


This is still a work in-progress, and I only implemented a preliminary subset of candlestick patterns. I also intend to add alerts (e.g. sound/pop-up/email) which can be used to notify the user when a new pattern has formed.

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