Japanese candlestick indicator.

Trading using Japanese candlesticks is often used in Forex, a new candlestick combination can confirm the current trend or warn of an upcoming reversal. But constantly monitoring the chart of a currency pair is quite tedious; a special indicator can make the process easier.

Japanese candlestick indicator - using multi-colored figures, informs the trader about the appearance of a new candlestick combination, which greatly simplifies trading.

All parameters in the indicator are set by default, the user can only change the displayed interval in bars, the standard setting is set to 1000.

After you have added the downloaded indicator to the chart of the working instrument, symbols of Japanese candlesticks immediately appear, which are deciphered as follows:

• Gray circle - the Hammer candlestick pattern or also called the Hanging Man, depending on the direction of the trend, it indicates its reversal.

• Red square - " Bullish Engulfing " also belongs to the category of reversal candles, and sometimes gives a fairly strong signal.

• Blue hedgehog - indicates “ Doji Candles ” which can have a different impact on the trend depending on the moment at which they appeared

• Green square - “Bearish Engulfing” is similar to Bullish Engulfing only in the other direction.

• Rhombus - "A Clearance in the Clouds"

To get additional information, you just need to hover your cursor over the figure, after which a tooltip will appear with a description of the candlestick pattern.

It is clear that the Japanese candlestick indicator does not work perfectly, but even this option will help to determine and identify the desired candlestick combination in time. A description of the candles can be found in the Japanese candles .

Download Japanese Candlestick Indicator .