【Extremely Popular Indicator】Trade without missing opportunities using Candle-Priceaction!

In everyday trading,this indicator that emphasizes candlestick price action (price movement) is recommended for those who pay attention to it.The indicator you want to use is secretly quite popular!

According to the developer, Mr. Eiku

“I trade relying on signal tools, but I want to master price action from now on.”

and it's also recommended for those people.

So this time,MT4-compatible indicator【Candle-Priceaction】We will introduce it.

First of allWhat is candlestick price action?For those who are wondering, here is a brief explanation:

It is a method for predicting and analyzing future price movements from candlestick arrangements and patterns.

It may not be familiar to you, but it is a technique widely used by Western investors, and if you master it, you may be able to read the psychology of investors around the world.

First, the five price-action patterns that this indicator can detect are as follows.

・Inside Bar　（Inside Bar）

・Outside Bar　（Outside Bar）

・Engulfing Bar (Buy)　（Engulfing Bar — Buy）

・Engulfing Bar (Sell)　（Engulfing Bar — Sell）

・Pin Bar　（Pin Bar）

※Engulfing bars are also sometimes called “engulfing candles.”

The pattern detection rules are as follows.

・Inside Bar　⇒　Detect when the high and low of the second candle are completely contained within the high and low of the first candle.

・Outside Bar　⇒　Detect when the high and low of the first candle are completely engulfed by the high and low of the second candle.

・Engulfing Bar (Buy)　⇒　The previous candle is bearish, the next is bullish, and the previous high is also updated.

・Engulfing Bar (Sell)　⇒　The previous candle is bullish, the next is bearish, and the previous low is also updated.

・Pin Bar　⇒　Detection can be customized with the indicator’s own filters: body percentage, wick filter, and body filter.

On the chart, you can change the colors for each pattern as you like, but,

“If it becomes too colorful, it’s hard to read.”

For those who think so, you can also display using symbols!

In symbol display, it will show the initial letter of the pattern.

(e.g., Inside Bar would be “I”)

From these five patterns, you can of course select only the ones you want to use.You may select only the patterns you wish to use.

AdditionallyThere is also an email feature, so you don’t have to stay attached to the chart all the time!

If you set it up, you can check the price movements of the currencies you’re watching even when you’re away.

Also, regarding “repaint” concerns when using the indicator, Candle-Priceaction is said not to repaint, so you can use it with confidence.

Please try the price action that is loved by many Western traders.

Written by Kuwabara