Wednesday, April 23, 2014

Powerful Forex Candlestick Pattern Indicator

December 28, 2011 by  
Filed under Custom Forex Indicators, Forex Courses Review


If you have been following my blog so far, you will have heard me talking a lot about various candlestick patterns. There are various type of candlestick patterns but they are mainly categories into reversal and continuation patterns.

For the reversal candlestick patterns, they are often a sign that the price is going to reverse. For the continuation patterns, they are usually a sign of consolidation before the price will continue to move in the same direction.

However the main problem face by most traders is they do not know how to identify these patterns in their chart. In fact the candlestick patterns are the only leading indicators in trading as they are able to tell you a reversal is coming before it actually came.

Last week, I was recommended by one of our fellow traders about an indicator that is about to identify numerous candlestick patterns. Most importantly, it is able to tell strong reversal patterns, weak reversal patterns as well as continuation patterns.

I decided to get one for myself to see how it actually works and therefore to write this post to share this indicator with you guys.

In the picture below, you can see the the formation of a shooting star which is a strong reversal candlestick pattern. Whenever there is a shooting star formation, it is a sign that the price is going to reverse soon.

In the next picture, you can see the formation of inverted hammer which is also a reversal pattern.

Besides the 2 patterns above, there are many more candlestick patterns that this indicator can help you to identify which makes it very handy for traders.

If you are interested to find out more about this indicator, you can visit the website below.

Visit The Forex Candlestick Indicator Website

 

 

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Comments

2 Responses to “Powerful Forex Candlestick Pattern Indicator”
  1. Van says:

    Kelvin,
    I just bought this indicator from your site but do not know how to use it. Can you explain a little bit? Sometimes there are arrows without any text. Where are the buy and sell signals? Are they the arrows that coincide with the text? If so, When I try to edit the buy signal color on meta trader, it doesn’t matter what color I change it to, it doesn’t show up. The product DID NOT come with any instructions for use, only for installation. Please help Kelvin. Thank you.

    • Kelvin says:

      Hi Van

      What this indicator does is to help you identify a reversal candlestick pattern or continuous candlestick pattern which is very amazing. This will save you a lot of time in identifying these patterns. It is not an indicator that tells you to buy or sell, what you need is to use this indicator with your strategy.
      For example, I have a reversal strategy which trades when the price reverses. This candlestick indicator will help me to identify times where the market produces a reversal candlestick like the tweezer, inverted hammer or shooting star. When these reversal candlestick patterns coincide with your strategy, it gives you higher probability of winning.

      Therefore you will need to formulate a strategy and integrate this indicator into the strategy to help you identify either continuous movement or reversal movement.

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