Candlestick Patterns
This indicator improves traditional candlestick pattern detection by incorporating market mean-reversion phases and volume analysis, providing higher accuracy and reliability in trading signals.
The combination of price action, market phases, and aggregated volume ensures a more robust understanding of market movements and the strength behind pattern formations.
Bearish candlestick patterns
Hanging Man (HM)
A bearish reversal pattern occurring after an uptrend, signaling potential selling pressure. The pattern is validated by mean-reversion zones to confirm trend exhaustion.
Shooting Star (S)
A potential bearish reversal pattern where the price closes near its low after a long upper shadow. It is filtered to appear only in relevant reversion phases.
Bearish Engulfing (BEG)
A strong bearish signal when a larger down candle completely engulfs the prior up candle. Market phase analysis ensures it appears in high-probability scenarios.
Evening Star (ES)
A bearish reversal pattern marking a shift in trend, confirmed through market phase filtering to enhance accuracy.
Bearish Harami (BH)
A weaker bearish reversal pattern appearing during retracement phases, validated by trend exhaustion signals.
Tweezer Top (TT)
A pattern indicating rejection of higher prices, appearing in phase-analyzed conditions to confirm exhaustion.
Bearish Doji
A Bearish Doji forms after an extended uptrend and suggests that buying momentum is weakening.
Despite price fluctuations during the session, the close near the open shows uncertainty or hesitation among buyers. If followed by a bearish confirmation candle (like a shooting star or bearish engulfing), it may indicate the start of a downward reversal or short-term correction.
Bullish candlestick patterns
Hammer (H)
A bullish reversal pattern occurring after a downtrend. The indicator filters this pattern to show only in validated reversion phases.
Inverted Hammer (IH)
A potential bullish reversal signal appearing after a downtrend. It is optimized by market phase analysis to increase reliability.
Bullish Engulfing (BEG)
A strong bullish signal where a larger up candle engulfs the prior down candle. Only shown when validated by reversion zones.
Morning Star (MS)
A bullish reversal pattern indicating a shift in trend, confirmed by phase-based market filtering.
Bullish Harami (BH)
A weaker bullish reversal signal appearing during retracement phases, optimized to reduce false positives.
Tweezer Bottom (TB)
A pattern signaling rejection of lower prices, validated by market exhaustion analysis to confirm a reversal.
Bullish Doji
A Bullish Doji appears after a downtrend and reflects market indecision as sellers begin to lose strength.
The candle has a small body with long wicks, indicating that although price moved during the session, it closed near its open.
This pause often signals a potential shift in sentiment. When confirmed by a strong bullish candle (like a bullish engulfing or hammer), it can mark the beginning of a reversal to the upside.
Volume Data
This indicator integrates aggregated volume data into its pattern analysis to provide additional confirmation.
The displayed volume corresponds to the total volume of all bars contributing to the formation of the pattern:
Volume data provides insights into the strength and reliability of each pattern.
Patterns formed with higher volume suggest strong market participation, indicating a higher likelihood of follow-through. Conversely, patterns with lower volume may signal weaker signals, encouraging caution.
Settings
Settings
Pattern Display – Select which candlestick pattern to highlight on the chart.
Options include:
Hammer, Engulfing, Rising 3, Three White Soldiers, Star (Morning/Evening/Shooting), Harami, Tweezer Top/Bottom, Doji, Hanging Man, Falling 3, Three Black Crows,
or All (to show every supported pattern).
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