Learn how to trade the Forex market using this collection of 13 Candlestick patterns, this advanced technique focuses on pure price action and is used by experienced market traders. You will find that many traders use candlestick charts since they help better reflect price movements and this indicator benefits from sending instant Telegram alerts the moment a pattern has formed so you never miss a trade opportunity.
The boxes shown on the chart below are for the Boxify Breakout Box indicator, which can be purchased separately.
Candlestick patterns were used by rice merchants in the 18th century and are still used today in the financial markets.
How to Use This Indicator
Probably the easiest way to show you how to use this indicator is to watch the video explainer below as this will demonstrate a hands-on approach to the settings, but if you find the English difficult to understand we will try our best to explain it here. Start by installing the indicator onto the cTrader platform, you can find out how to do this below and once installed you just need to adjust your settings and set up your Telegram and Email alert credentials in order to receive an alert when a pattern forms.
- Doji
- Hammer
- Bullish Engulfing
- Bullish Harami
- Piercing Pattern
- Morning Star
- Bearish Engulfing
- Dark Cloud
- Shooting Star
- Bearish Harami
- Evening Star
- Hanging Man
- Bollinger Band Pattern
Parameters Explained
- HMA Periods - this is the period value for the Hull Moving Average indicator that is used for the candlestick pattern calculations.
- Full Name - if YES it will show the full name of the candlestick on the chart, set to NO, it will show the short name that you define.
- Lookup Table - this shows the pattern's full name next to the short name so you can easily look it up.
- Show Last Pattern - This will show on the chart the name of the last pattern that formed.
- Patterns - where it shows Show and then the pattern name, you can select which patterns you wish to use.
- Short Names - this is where you enter the abbreviated short name of a pattern so that it takes up the least space on the chart.
Learn Candlestick Pattern Trading
Learn how to trade the Forex market using Candlestick patterns, this advanced technique focuses on pure price action and is used by experienced market traders and if you are interested you can also learn more about the history of candlestick pattern trading.
Watch a Video Explainer
We have recorded a hands-on tutorial on how to use the indicator and change your video quality to 1440p HD for the best viewing.
Duration: 6 minutes - Watch full screen on YouTube
Telegram Alerts
When a signal occurs, the indicator will send a Telegram alert directly to your PC or mobile device.
How To Install & Remove
First, make sure you have the cTrader trading platform installed and then unzip the file and double-click on it to automatically install it onto the platform.
Any Questions?
If you have any questions or bugs, please first search our product help forum for the answer, if you cannot find it, post a new question.
Need a Broker
If you are still looking for a trustworthy broker, look at our best cTrader broker site.
