Candlestick Price Action

The indicator identifies figures formed by the candles at some point of the market trend.

The candles standards are useful for early warning of future price movements, they would also serve as beacons of support and resistance.

They are also useful to signal oversold or overbought market.

It is recommended to use the indicator in addition to other technical indicators.

The indicator has 17 patterns of candles:

• HM - Hammer
• HG - Hanged
• IHM - Inverted Hammer
• IHG - Inverted Hanged
• DJ - Doji
• BE - Bearish Engulfing
• MA - Marubozu
• TOD - Three Outside Down
• TOU - Three Outside Up
• BH - Bullish Harami
• TID - Three Inside Down
• TIU - Three Inside Up
• MS - Morning Star
• AB - Abandoned Baby
• ES - Evening Star
• DC - Dark Cloud Cover
• PL - Piercing Line

This indicator can be used for all currency pairs and for all timeframes.

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