Features
- 24 candlestick patterns: Engulfing, Hammer, Morning Star, Three White Soldiers, Kicker, four Doji types and more, each with its own on and off switch.
- Reversal patterns where they make sense: a bullish pattern is marked only after price has been falling, so a Hammer in the middle of a rally gets no arrow.
- Confirmed on the closed candle: a pattern is marked when its last candle closes, and the arrow stays where it was drawn.
- A result for every signal: a line runs from each signal to the best price reached before the next signal, with the pips written on the chart.
- Your own success benchmark: enter the pips you want from a trade, and the panel shows how many signals reached it and the average pips per signal.
- A clean chart: Min. Bars Between Patterns keeps the signals apart, so you see one clear signal per swing.
- Alerts when the candle closes: popup, sound, email and push notifications name the symbol, the timeframe and the pattern.
- Doji candles kept apart: the four Doji types get a yellow dot, so a pause in the market is never mistaken for a buy or sell signal.
How the Candlestick Pattern Indicator Works on the Chart
A blue arrow below the candles marks a bullish pattern and a red arrow above them marks a bearish pattern. The panel in the top left corner shows the record for the history on your chart: total signals, wins against your success benchmark, the success rate and the average pips per signal.
Find the Patterns That Work on Your Symbol
A pattern that works well on EURUSD can work poorly on USDJPY. The record on your chart shows which patterns to keep:
- Set Success Benchmark Pips to the pips you want from a trade.
- Switch the patterns off one at a time in the inputs and watch the success rate.
- Keep a pattern off when the success rate improves without it, and switch it back on when the rate falls.
- Set Min. Bars Between Patterns between 10 and 50. A higher number gives fewer signals with a higher success rate.
The 24 Candlestick Patterns
Reversal patterns: Harami, Hammer and Shooting Star, Engulfing, Three White Soldiers and Three Black Crows, Three Outside Up and Down, Three Inside Up and Down, Morning Star and Evening Star, Squeeze.
More reversal patterns: Belt Hold, Dark Cloud Cover and Piercing, Advance Block and Descent Block, Counterattack Lines, Ladder Bottom and Top, Kicker, Homing Pigeon and Descending Hawk.
Continuation patterns: Marubozu, Rising Window and Falling Window, Fakey Breakout, Mat Hold, Rising Three Methods and Falling Three Methods.
Neutral patterns: Simple Doji, Long Legged Doji, Gravestone Doji, Dragonfly Doji.
Candlestick Patterns Indicator Settings
- Min. Bars Between Patterns (15): The smallest gap between two signals. A higher number gives fewer signals.
- Pattern switches (true, Harami false): Switch each of the 24 patterns on or off.
- Success Benchmark Pips (10.0): The pips a signal must move in its direction to count as a win.
- Show Text Analysis (true): Shows the record panel in the top left corner.
- Sound, PopUp, Email Alert, Push Notifications (true): Choose how each new pattern reaches you.
Pro Tip
Use the pattern box for your stop loss. The box covers the high and the low of the candles that formed the pattern, so a stop loss a few pips beyond the box sits exactly where the pattern would fail.
Frequently Asked Questions
Does the indicator repaint?
No. A pattern is marked only after its last candle has closed, and the arrow, the name and the box stay where they were drawn.
Does it give a stop loss and take profit?
The indicator marks the pattern and records how far price moved after it. Place the stop loss beyond the pattern box, and use the result lines on your symbol to choose your target.
Is the MT5 version the same as MT4?
Yes. Both versions find the same 24 patterns and have the same record, alerts and inputs.
Can it check many symbols at once?
The indicator works on the chart it is attached to. The KT Candlestick Patterns Scanner checks these patterns on many symbols and timeframes from one chart.
Can an EA trade the signals?
Yes. Your EA can read the buy signal, the sell signal and the pattern code. The KT Candlestick Patterns EA is built on these patterns and trades them for you.
Which markets and timeframes does it work on?
Every symbol and timeframe your MetaTrader shows, including forex pairs, gold, indices and crypto.
Trade the Patterns That Work on Your Chart
You get 24 candlestick patterns marked where they make sense, an alert the moment one forms, and a record of how far price moved after every signal. Keep the patterns that reach your target on the symbol you trade, and switch off the rest.
