yet another candlestick recognition system

Hi Guys

I have coded another useful/less a candlestick pattern identifier.
It has Windows on the side to show the multi timeframe candles just for a perception of the overall trend.
The virtual candle window shows the resulting candle math when you put the mouse over the candle pattern.


Currently only put these candles:
// double candle patterns
bearish engulfing,
bullish engulfing,
dark cloud cover,
piercing pattern,
bullish harami,
bearish harami,
// triple candle patterns
morning star,
evening star,

Give me a good reason to put more and enjoy

Very cool. Care to share the source code?

Did you implement the candlestick library? https://www.mql5.com/en/code/291

Not really into code sharing
But no, I have not used that library.
I based myself on Steve Nison's stuff, but after checking Steve Bulkowski's stuff he has a bit more information on the candles.
That is what I will do next. There is the effectiveness of candles which is more important.
For example, morning/evening star's are very effective candles, bearish and bullish, hammer, doji, shooting star are not really effective.
I might also use trend identifying system I created using donchian channels to filter the candles.

If someone goes through the effort of going through steve bulkowski's side to find the best 20 candlestick patterns I will implement them.
According to Steve Nison also there should be trend filtering. And you never should trade candlesticks in a range.

Another comment:

Candlesticks are to be interpreted as reversal patterns if at extremes of a trend, or as continuation patterns in the middle of a trend.
Trends have the definition of a succession of higher highs and higher lows for uptrend and lower highs and lower lows for a downtrend. However this is also pending on support/resistance levels.
IE: Use the ADX indicator with a period of 2, anything bellow 25 represents a range, anything above 90 represents extremes in a trend, like overbought in RSI.
However, this is always pending on previous levels.
The picture above has a strong reversal pattern at a support level, trend was down, hit support, a morning star formed, trend reversed, and then had a bullish engulfing as further continuation of the trend.