The Reversal Finder Indicator uses the practice of identifying candlestick patterns. It focuses on those patterns that indicate a change in the trend direction. The indicator also highlights and labels the patterns on the chart in a clear and concise manner. The patterns highlighted in red signal a possible change to a downtrend and the patterns highlighted in green, a possible change to an uptrend.
The user can enable/disable the patterns that the indicator will highlight with a True/False option for each:
- Three Bullish Soldiers – True/False
- Hammer – True/False
- Morning Star – True/False
- Three Black Crows – True/False
- Bullish Engulfing – True/False
- Inverted Hammer – True/False
- Evening Star – True/False
- Shooting Star – True/False
- Hanging Man – True/False
- Doji Star AND Long-Legged Doji – True/False
- Dragonfly Doji – True/False
- Gravestone Doji – True/False
Software Requirements: Windows OS, Metatrader 4 platform.