High Performance Candlestick Patterns Colors//Candle Patterns Ranked by Performance THOMAS N. BULKOWSKI
//1. Bearish Three Line Strike +Up 67.38%
//2. Bullish Three Line Strike -Down 65.23%
//3. Bearish Three Black Crows -Down 59.83%
//4. Bearish Evening Star -Down 55.85%
//5. Bullish Upside Tasuki Gap +Up 54.44%
//6. Bullish Inverted Hammer -Down 51.73%
//7. Bullish Matching Low -Down 50.00%
//8. Bullish Abandone Baby +Up 49.73%
//9. Bearish Two Black Gapping -Down 49.64%
//10. Brearish Breakaway -Down 49.24%
//11. Bullish Morning Star +Up 49.05%
//12. Bullish Piercing Line +Up 48.37%
//13. Bullish Stick Sandwich +Up 48.20%
//14. Bearish Thrusting Line During Dowtrend +Up 48.10%
//15. Bearish Meeting Line +Up 48.07%
//Down=Yellow Bar Color and Black Text
//Up=Blue Bar Color and Blue Text
//High Performance Candlestick Patterns Colors Top 15
Candlestickpattern
High Performance Candlestick Patterns//Candle Patterns Ranked by Performance THOMAS N. BULKOWSKI
//1. Bearish Three Line Strike +Up 67.38%
//2. Bullish Three Line Strike -Down 65.23%
//3. Bearish Three Black Crows -Down 59.83%
//4. Bearish Evening Star -Down 55.85%
//5. Bullish Upside Tasuki Gap +Up 54.44%
//6. Bullish Inverted Hammer -Down 51.73%
//7. Bullish Matching Low -Down 50.00%
//8. Bullish Abandone Baby +Up 49.73%
//9. Bearish Two Black Gapping -Down 49.64%
//10. Brearish Breakaway -Down 49.24%
//11. Bullish Morning Star +Up 49.05%
//12. Bullish Piercing Line +Up 48.37%
//13. Bullish Stick Sandwich +Up 48.20%
//14. Bearish Thrusting Line During Dowtrend +Up 48.10%
//15. Bearish Meeting Line +Up 48.07%
//Down=Yellow Bar Color and Black Text
//Up=Blue Bar Color and Blue Text
//High Performance Candlestick Patterns Top 15
Bearish Candlestick PatternsDoji
Black Spinning Top
White Spinning Top
Bearish Abandoned Baby
Bearish Advance Block
Bearish Below The Stomach
Bearish Belt Hold
Bearish Breakaway
Bearish Counter Attack Lines
Bearish Dark Cloud Cover
Bearish Deliberation Blok
Bearish Descending Hawk
Bearish Doji Star
Bearish Downside Gap Three Methods
Bearish Downside Tasuki Gap
Bearish Dragonfly Doji
Bearish Engulfing
Bearish Evening Doji Star
Bearish Evening Star
Bearish Falling Three Methods
Bearish Falling Window
Bearish Gravestone Doji
Bearish Hanging Man
Bearish Harami
Bearish Harami Cross
Bearish Hook Reversal
Bearish Identical Three Crows
Bearish In Neck
Bearish Island Reversal
Bearish Kicking
Bearish Ladder Top
Bearish Last Engulfing Top
Bearish Low Price Gapping Play
Bearish Mat Hold
Bearish Matching High
Bearish Meeting Line
Bearish On Neck
Bearish One Black Crow
Bearish Separating Lines
Bearish Shooting Star
Bearish Side by side White Lines
Bearish Three Black Crows
Bearish Three Gap Up
Bearish Three Inside Down
Bearish Three Line Strike
Bearish Three Outside Down
Bearish Three Stars in the North
Bearish Thrusting Line During Dowtrend
Bearish Tower Top
Bearish Tristar
Bearish Tweezers Top
Bearish Two Black Gapping
Bearish Two Crows
Bearish Upside Gap Two Crows
Bullish Candlestick PatternsBullish Abandone Baby
Bullish Above The Stomach
Bullish Belt Hold
Bullish Breakaway
Bullish Concealing Baby Swallow
Bullish Counterattack Lines
Bullish Deliberation Block
Bullish Descent Block
Bullish Doji Star
Bullish Downside Gap Two Rabbits
Bullish Dragonfly Doji
Bullish Engulfing
Bullish Hammer
Bullish Harami
Bullish Harami Cross
Bullish High Price Gapping Play
Bullish Homing Pigeon
Bullish Hook Reversal
Bullish Inverted Hammer
Bullish Island Reversal
Bullish Kicking
Bullish Ladder Bottom
Bullish Last Engulfing Bottom
Bullish Mat Hold
Bullish Matching Low
Bullish Meeting Line
Bullish Morning Doji Star
Bullish Morning Star
Bullish On Neck
Bullish One White Soldier
Bullish Piercing Line
Bullish Rising Three Methods
Bullish Rising Window
Bullish Separating Lines
Bullish Side by Side White Lines
Bullish Stick Sandwich
Bullish Takuri Line
Bullish Three Gap Downs
Bullish Three Inside Up
Bullish Three Line Strike
Bullish Three Outside Up
Bullish Three Stars in the South
Bullish Three White Soldiers
Bullish Thrusting Line During Uptrend
Bullish Tower Bottom
Bullish Tristar
Bullish Tweezers Bottom
Bullish Two Rabbits
Bullish Unique Three River Bottom
Bullish Upside Gap Three Methods
Bullish Upside Tasuki Gap
Advanced Candlestick Patterns [vitruvius]This is a very advanced indicator that detects most commonly used candlestick patterns. Please read this document carefully to understand how it works.
It is tailored to identify patterns that only have a great possibility of signaling a price movement. In other words, it can and will ignore some patterns, even though they satisfy the recognition conditions defined in the books. Candlestick patterns should also satisfy some other conditions in this indicator to be valid and you can modify those conditions.
This indicator is not only about identifying the candlestick patterns. By using the different choices, you can:
Avoid fake signals
Confirm patterns
Increase your possibility to win a trade
Reduce risk
Identify bullish/bearish movements better
Recommended Use
This indicator works best when you:
Use it in the daily time frame
Combine it with Support/Resistance areas
Note: For some candlestick patterns, you have the option of confirming the pattern with the next price action. In those cases, there will be obviously one bar delay (because it will wait for one more bar to close to confirm the pattern). However, it will mark the candlestick where it identifies the pattern and it will have ”Confirmed” in its text.
Important Note
This indicator does some serious calculations and checks for a lot of user inputs. Therefore, it might be a little slow. Please give it some time when it needs to do some computing.
MODULES
Trend Detection
Most of the patterns in this script are trend reversal patterns. So, recognition of the candlestick patterns depends heavily on the trend. In fact, even if you do not select a trend detection method, it will use the SMA method as default where it needs a certain trend in identifying a specific pattern.
It is possible to combine multiple trend detection methods. You can see how this affects the overall trend detection by enabling the background coloring.
Note: There might be some cases where a candle has a bullish/bearish confirmation of the same candlestick pattern . In those cases, the script is unable to identify the move and the user should decide if the identified pattern is bullish or bearish.
Below are the inputs of this module:
Color the background according to the trend?
If you select a trend detection method, it will color the background green for an uptrend and red for a downtrend .
Counter the trend when there is no obvious trend?
If you select multiple trend detection methods, there might be some cases where one of the methods indicates an uptrend and the other one indicates a downtrend . In that case, the script will continue with the previous trend (whatever the trend is one bar ago) by default . You can, however, reverse the trend in those cases by using this option. If you choose to reverse, you might catch the trend early .
Use MACD to detect the trend?
Use MACD to detect the trend. Whenever MACD delta is greater or equal to zero, it is an uptrend .
MACD Fast Length
Fast length of MACD.
MACD Slow Length
Slow length of MACD.
MACD Signal Smoothing
Signal smoothing value of MACD. Please note that it is set to 6 by default.
Use SMA to detect the trend?
Use SMA to detect the trend. If the price closes above the SMA line, it is an uptrend
SMA Length
Length of SMA.
Use the average price of previous candles to detect the trend?
If the average of open and close prices constantly go up for n bars that are determined by the next user input, it is an uptrend .
Number of candles to analyze
The number of bars ( n ) to analyze for the average price method.
Use the closing price of the previous candle to detect the trend?
If the difference between the current close and nth previous bar’s close is greater than the given threshold, it is an uptrend .
Position of the previous candle to analyze
Position of the bar (backward) to compare with the current close price.
Threshold for the closing price
The threshold value for closing price method.
Basic Candlestick Patterns
This module detects Doji, Spinning Top, Marubozu candlestick patterns. Also, you can set some specific options that are going to be used in all candlestick patterns.
Note: If you choose to manually enter the body height of a doji , you need to find the optimal value for different timeframes. Different timeframes have difference price action ranges.
Below are the inputs of this module:
Tolerate opening/closing price of the candle?
When a candlestick pattern needs to have a gap between two candles, you can tolerate the opening/closing prices of the one candle. This option is useful where the opening and closing prices are very close. This option is going to be used in all candlestick patterns.
Factor for tolerating opening/closing price
The more the factor is, the more the tolerance is.
Body/Height ratio for a candle to be considered as Bullish/Bearish
A bullish/bearish candle shouldn’t have too much shadow. You can use this option to determine the shadow length of a bullish/bearish bar. This option is going to be used in all candlestick patterns
Use basic candlestick pattern (Doji, Spinning Top, Marubozu)?
Detect doji, spinning top, marubozu candlestick patterns.
Manually set body of Doji?
You can manually set the body height of a doji. Otherwise, it will be calculated automatically. If you choose to use this option, then spinning top, and marubozu will also be calculated based on this.
Body of Doji
Body height of a bar to be considered as doji . Any bar with a body equal or less than the given value will be marked as doji. Only effective if you check the ”Manually set body of Doji?” option .
Verify a Doji by looking at the preceding candle?
If true, it will only mark dojis if the preceding candle is bullish or bearish.
Single Candlestick Patterns
This module detects Hammer, Hanging Man, Inverted Hammer, Shooting Star single candlestick patterns.
Below are the inputs of this module:
Confirm Single Candlestick Patterns with next closing price?
You can confirm a single candlestick pattern with the next closing price. That is, if the next candle closes above the previous one, it will confirm a bullish movement. If the next candle closes below the previous one, it will confirm a bearish movement.
Use Hammer and Hanging Man Single Candlestick Patterns?
Detect hammer and h anging man single candlestick patterns.
Use Inverted Hammer and Shooting Star Single Candlestick Patterns?
Detect inverted hammer and s hooting star single candlestick patterns.
Dual Candlestick Patterns
This module detects Engulfing, Tweezer Bottoms, Tweezer Tops, Harami, Inside Bar, Piercing Line, Dark Cloud Cover dual candlestick patterns.
Below are the inputs of this module:
Use Engulfing Dual Candlestick Pattern?
Detect engulfing dual candlestick pattern.
Validate Engulfing by comparing highs and lows?
If checked, the second bar must engulf the previous bar’s high/low also. If unchecked, the second bar should only engulf the real body of the first bar.
Use Tweezer Bottoms and Tops Dual Candlestick Patterns?
Detect tweezer bottoms and tweezer tops dual candlestick patterns.
Check the shadow equality of Tweezer Bottom and Tops?
Check if the shadows of the tweezer bars are about the same length.
Detect Harami Dual Candlestick Pattern?
Detect harami dual candlestick pattern.
Use High/Low of the second Harami candle instead of Open/Close price?
If checked, the body of the child must be within High and Low of the mother bar. Otherwise, only open/close prices will be checked.
Detect Inside Bar Dual Candlestick Pattern?
Detect inside bar dual candlestick pattern.
Treat Inside Bar as a reversal pattern?
If checked, inside bar will be treated as a bullish/bearish reversal pattern.
Check if the Inside bar formed in the upper/lower half of the Mother bar?
Check if the inside bar forms within the upper/lower body half of the mother. Then it will be treated as a bullish/bearish inside bar .
Detect the Inside Bar only if the previous candle closes outside of the Keltner channel?
This option effects identifying the inside bar . Such that, an inside bar will be detected only if the previous candle closes outside of Keltner Channel . Inside bars are effective when the market is extended and this is a nice way to check for that.
Confirm Inside Bar with the next close breaching the low/high of the inside bar?
Check if the next bar breaches inside bar’s high/low. Then it will be treated as a bullish/bearish inside bar .
Use Piercing Line and Dark Cloud Cover Dual Candlestick Patterns?
Detect Piercing Line and Dark Cloud Cover dual candlestick patterns.
Triple Candlestick Patterns
This module detects Morning Star , Evening Star, Three White Soldiers, Three Black Crows, Three Inside Up, Three Inside Down, Three Line Strike, Abandoned Baby, NR4, NR7 candlestick patterns.
Below are the inputs of this module:
Use Morning and Evening Star Triple Candlestick Pattern?
Detect morning and evening star triple candlestick patterns.
Don't allow the second candle's body to overlap with the first and third candle?
If checked, high and low of the second candle cannot overlap with the first and third candle for morning and evening star candlestick patterns.
The third candle must close beyond the midpoint of the first candle?
If checked, the third candle must close beyond the midpoint of the first candle for morning and evening star candlestick patterns.
Use Three White Soldiers and Three Black Crows Triple Candlestick Pattern?
Detect three white soldiers and three black crows triple candlestick pattern.
Compare bodies of Three White Soldiers and Three Black Crows candles?
You also have the possibility of comparing bodies of the candles in a way that every consecutive candle must have a bigger body than the previous candle.
Check if each candle (TWS&TBC) opens in the middle price range of the previous day?
You can check if each candle of three white soldiers and three black crows opens in the middle price range of the previous day.
Use Three Inside Up/Down Triple Candlestick Pattern?
Detect three inside up and three inside down triple candlestick pattern.
Check candles' bodies and closing prices for Three Inside Up/Down?
There are two different definitions for three inside up/down candlestick patterns. This option allows you to select one of those definitions. That is;
If unchecked , the second candle should make it up all the way to the midpoint of the first candle. Also, the third candle needs to close above the first candle’s high.
If checked , the second candle opens and closes within the real body of the first candle. Also, the third candle needs to close above the first candle's high.
Use Three Line Strike Candlestick Pattern?
Detect three line strike triple candlestick pattern.
Compare High/Lows instead of Open/Close for the Three Line Strike Pattern?
If checked, it will compare high/lows instead of open/close prices for the three line strike pattern.
Use Abandoned Baby Triple Candlestick Pattern?
Detect abandoned baby triple candlestick pattern. If you choose to tolerate opening and closing prices, high and low prices will also be tolerated for abandoned baby.
Use NR4 Candlestick Pattern?
Detect NR4 candlestick pattern.
Use NR7 Candlestick Pattern?
Detect NR7 candlestick pattern.
Confirm Narrow Range Candlestick Patterns with next closing price?
You can confirm NR4 and NR7 candlestick patterns with the next closing price. That way they will be identified as bullish or bearish patterns.
NOTES FROM THE AUTHOR
Please do not hesitate to contact me if you have any questions.
If you are not familiar with a specific candlestick pattern, try to google it. If you still need help, you can always contact me.
If you find a bug, or you think the indicator does not work as intended, please contact me with a screenshot of the chart. Also, please mention how you set up the user inputs.
If you have any ideas to further improve this indicator, please feel free to share it with me :)
LIKE , if you like it. SHARE if you think it would be useful for others too. FOLLOW for future updates and new indicators.
PA Extremely Early version
Experimenting with traditional "market structure" and candlestick patterns for trend analysis
Naked Forex - Kangaroo Tail IndicatorIndicator which identfies a kangaroo tail as defined in the book naked forex
A kangaroo tail is defined as
- a candle where the body closes in the upper or lower third
- which has room to the left
Three Outside Up Backtest This is a three candlestick bullish reversal pattern consisting of a bullish
engulfing pattern formed by the first two candlesticks then followed by an up
candlestick with a higher close than the prior candlestick.
WARNING:
- For purpose educate only
- This script to change bars colors.
Three Outside Up Strategy This is a three candlestick bullish reversal pattern consisting of a bullish
engulfing pattern formed by the first two candlesticks then followed by an up
candlestick with a higher close than the prior candlestick.
WARNING:
- This script to change bars colors.
Three Outside Down Backtest This is a three candlestick bearish reversal pattern consisting of a bearish
engulfing pattern formed by the first two candlesticks then followed by a down
candlestick with a lower close than the prior candlestick.
WARNING:
- For purpose educate only
- This script to change bars colors.
Three Outside Down Strategy This is a three candlestick bearish reversal pattern consisting of a bearish
engulfing pattern formed by the first two candlesticks then followed by a down
candlestick with a lower close than the prior candlestick.
WARNING:
- This script to change bars colors.
BH - Candlestick Pattern DetectionThis is a script to help the beginners locate the candle patterns. It has a nice code that can be used in other scripts too. Easy to use with separated functions, simple patterns and complex patterns detections.
I have done some updates at the Candlestick Patterns Identified script by @repo32. Was a good start of my ideia. Tks for sharing repo.
It will be always under constant development but I want to share this first version to know what can be done to get better, improve, get more desired patterns, know what are you guys using that could be helpful.
I still need to check if all patterns are correct.
Any comments, help and suggestions will be appreciated.
Marcos Issler @ Isslerman
Candlestick Signals StrategyThis strategy allows you to pick from 9 different candlestick patterns, and test them against historical data from your chart. You can get a good idea what patterns work best for each chart by turning each pattern on and off in the settings.
Average Candle LengthThis script is designed to show you the average candle size in pips (wick to wick) for however many bars you choose (20 is default).
The idea is that if the average candle size for the last 20 bars is, let's say 25, you would probably not want to set your stop loss less than 25 because it is more likely to get hit.
if you find this script helpful, tips and donations are always appreciated (venmo @rick-munoz) :)
Reynholm PivotsReynholm Pivots are used by Forex, Futures and Stock Traders to flag possible reverse points. These pivots work best on higher times such as the monthly, weekly and daily time frames. I don't recommend using Reynholm Pivots on time frames lower than the daily chart. This pivots are not "buy" or" sell" signals and should not be used for this purpose, but used in conjunction with other technical and or fundamental analysis.
Dark Cloud Backtest This is a bearish reversal pattern formed by two candlesticks within a uptrend.
Consists of an up candlestick followed by a down candlestick which opens lower
than the prior candlestick and closes below the midrange of the prior candlestick.
It is the reverse of the Piercing Line.
WARNING:
- For purpose educate only
- This script to change bars colors.
EMA BounceThis indicator will:
signal a GREEN triangle if a candle opens below the EMA and closes above the EMA
signal a RED triangle if the candle opens above the EMA and closes below the EMA
Strategy:
First identify the trend (stick to one timeframe, I use 4h)
If in an UP trend, then go LONG on GREEN triangles, do not trade red triangles as that would be a counter-trend trade (I am placing buy stops at the HIGH of the signal candle)
If in a DOWN trend, then go SHORT on RED triangles, do not trade on green triangles as that would be a counter-trend trade (I am placing sell stops at the LOW of the signal candle)
Default EMA is set to 50, you can change to a higher number for less signals or a lower number for more signal
NOTE: You can set up alerts so that you don't have to watch charts and wait for the signals.
If you find this indicator useful, tips and donations are always appreciated. Venmo @rick-munoz :)
Candlestick Patterns DemoMy first Pine Script attempt to identify and display candlestick patterns on the chart. In this demo version the script identifies Doji, Bullish Engulfing and Bearish Engulfing patterns.
Candlestick Trading Bible pack: Engulfing + Pin bar + Inside barHelpful indicator that overlays the price with colors and arrows for understanding easily engulfing, pin bar and inside bar formations as seen in the book "The Candlestick Trading Bible" IG of writer: @price.action.strategies
How it works:
-Bullish engulfing: yellow
-Bearish engulfing: fuchsia
-Pin bars: up/down green/red arrows
-Inside bars: white circle above the inside candle
----------
I do not have any relationship with the writer or the book mentioned above. The explanations in it may differ from what is drawn on the graph.
Candles HistoryA utility tool to get some metrics from the whole candles history.
Consider it as my Christmas gift to the community.
Available metrics
Starting Year
Starting Month
Starting Day
Starting Weekday
Starting Hour
Starting Minute
Highest Volume (works correctly only on the tickers with available volume data)
Lowest Volume (works correctly only on the tickers with available volume data)
Longest Candle Range
Average Candle Range
Longest Candle Body
Average Candle Body
Available Candles
Bullish Candles
Bullish Trend Candles (body >= range / 2)
Bearish Candles
Bearish Trend Candles (body >= range / 2)
Doji Candles
Bullish Marubozu Candles
Bearish Marubozu Candles
Longest Bullish Serie
Longest Bearish Serie
Good luck!
Quantum Dynamic Price PivotsFor aspiring price action traders, reading a candle chart at speed can be learned, but is a skill which takes years to perfect. For lesser mortals, help is required, and this is where the Quantum Dynamic Price Pivots indicator steps in to help.
As a leading indicator based purely on price action, the indicator delivers simple clear signals in abundance, highlighting potential reversals with clinical efficiency. Just like volume and price, pivots are another ‘predictive’ indicator and a leading indicator of price behaviour. And this is just the starting point for the ‘Swiss army knife’ indicator.
Pivot points can then be used to identify congestion phases of price action, as they are created dynamically, as well as define trends, again in real time. And of course, not forgetting possible trading opportunities as well.
Two specific pivot signals are displayed. A pivot low, and a pivot high. Both are shown with a yellow triangle. The pivot low is triggered, when the candles or bars either side have a higher high and a higher low than that in the middle. The pivot high is triggered when the candles or bars on either side have a lower high and a lower low. These simple phases of price action then signal potential reversals along with pauses points into congestion, and the development of longer term trends.
In congestion phases, the pivots mark the highs and lows of the phase dynamically. In the trend phase, again they mark the upper and lower trend lines as the price action develops.
This is why we refer to it as the ‘Swiss army knife’ indicator. Simple and elegant, yet powerful and functional with many uses. And when coupled with the Quantum Live Camarilla Levels indicator, really does allow you to take advantage of these key turning points, dynamically.
Get yours today, and take the hard work out of price action trading.