Traders use all kind of candlestick patterns to spot reversal or continuation in price and what this indicator does is combining the power of candlestick patterns like engulfing, rejection, inside bar, and three reversal bar with some reversal trading techniques and it makes things really simple by doing everything in backend and showing you just the buy/sell dots.
This indicator uses the price slope between two bars to find trends and once it found a sharp and strong trend it waits for the formation of a reversal candlestick pattern, once a pattern formed it shows a dot either on top of the bar or bottom of it based on signal type.
Reversal trading is very tricky and needs lots of patients, the win rate is really low but once you found a good setup you will recover all of your losses from false signals.
This indicator is really good at spotting tops and bottoms.
Not a single technical indicator is used in this indicator.
- Popup, sound, email, and Telegram alert
- Fully encapsulation of technical detail on the backend
- Simplifies reversal trading by just showing buy/sell dots
- Filters consolidation by trading only after a swing high or low (trending condition)
- Enable/disable candlestick patterns used by the indicator
- Supports engulfing, rejection, inside bar and three bar reversal candlestick patterns
- No repaint or lag