Pattern Rec 4

Recognizes Candle Patterns.



Installation: Open your MT4, scroll up to File>Open Data Folder>MQL4>Indicators and paste the EX4 file(s) there. Restart MT4.


How It Works: This indicator is another fantastic indicator based from candlestick patterns. We at Element Forex have always told you all in the past that Price Candlestick Patterns are one of the best and only ways of knowing the real picture of the market. The Japanese had names for certain candlesticks. If you look at the indicator below, you will see the names of them as well as fingers pointing up or down. If the finger is down, it means the pattern is signalling a down pattern so you might look to sell and if the finger is pointing up, it means the pattern is signalling a up pattern so you should look to Buy. Remember that you should use another indicator to confirm the trend. One of our trend indicators would be a perfect one to use to confirm the trades.



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