Candlestick Pattern Recognition Indicator

If someone told you they had uncovered a 300 year old secret that had the potential to bring great wealth, would you listen?

Candlestick charts are said to have been developed in the 18th century by legendary Japanese rice trader Homma Munehisa. The charts gave Homma and others an overview of open, high, low, and close market prices over a certain period. This style of charting is very popular due to the level of ease in reading and understanding the graphs. Since the 17th century, there has been a lot of effort to  relate chart patterns to the ldata points instead of one. The Japanese  rice traders also found that the resulting charts would provide a fairly reliable tool to predict future demand.

- You DON'T need to memorize this patterns
- With our MT4 indicator patterns will be automatically shown to you on any chart
- It indicates a higher chance of prices moving in it's direction
- It will print a colored text so that is easy to see if pattern signal is bullish(buy) or bearish(sell)
- It recognize 25+ candlesticks patters. Strong Reversal
patterns, Weak Reversal patters,   Continuation of a trend patterns!  
-NEW - You can now choose what patterns you want to see on chart! So no need to memorize which is strong, weak or continuation pattern anymore.
- It DOES NOT repaint! Once candle closes forming a pattern arrow NEVER disappear!

For everyone who like to use candlestick analysis for their trading, our indicator shows itself to be very handy tool in your indicator collection. It automatically scans the charts, no matter on which timeframe you put it on and it will show you exactly where there are specific candlestick pattern formations such as the Shooting Star, Evening Star, Evening Doji Star, Dark Cloud Pattern, Bearish Engulfing Pattern etc... The indicator is very easy to interpret by the user, it shows some abbreviated letters above or below the pattern and you can interpret these abbreviation through a legend which is found on the top left corner of your chart.

The settings of the indicator is pretty straight-forward. It allows you to turn alert On(true) or Off(false). When Alert is set to TRUE, each time the indicator finds a new pattern, it will sound an alarm. Remember: Candle reversal patterns are only valid when they form near significant support/resistance levels! You can add it with other indicators, for example trend line or fibonacci ratio...etc...

Candlesticks are pretty accurate though and if you develop yourself into this, it proves to be a worthwhile investment.

Learn To Find The Best Trades The Market Has To Offer!Remember that candlesticks never lie. Don't listen to people who tell you the market is bearish when the candlesticks are telling you exactly the opposite. Opinions can be wrong, but candlesticks are always right. Pay attention to what the candlesticks are telling you, and you can’t go wrong.
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Another free gift for my reader PRIMEVAL EA V2.1

Trading Many Pairs: GBPUSD, EURUSD, USDCHF, USDCAD, USDJPY, GBPCHF; EURGBP, EURCHF, CHFJPY, CADCHF, EURCAD.

Timeframe: M15

Installation Instructions

1. Allow your MT4 to the use of Expert Advisors: (Tools>Options>Expert Advisors' and put a tick on 'Enable Expert Advisors', tick on 'Allow live trade', tick on 'DLL imports', tick on 'Confirm DLL function calls', and tick on 'Allow external experts imports')

2. Copy the ‘ex4’ file to the EXPERTS folder of your meta broker: (PC–PROGRAMM FILES–META BROKER–EXPERTS) and the same action with the ‘dll’ file to LIBRARIES: (PC –PROGRAMM FILES-METABROKER-EXPERTS-LIBRARIES)

3. Close your MT4 Platform, if it was open.

4. Open your MT4 Platform again and now try to find the installed PRIMEVAL EA V2.1 on the Navigation area (left side of the screen, Expert Advisors folder)

5. Then double click and it appears a box to the settings

6. You should now see the PRIMEVAL EA V2.1 in the top righthand corner BUT it should have an X next to it.

7. Turn on the EA (Expert Advisors) you should now see a smiley face in the top righthand corner, This means everything is working and PRIMEVAL EA V2.1 will start to place pending orders.

Good Trades!

To go to download section in the comment area where you will see direct download link, click here PRIMEVAL EA ROBOT V2.1 FREE DOWNLOAD
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Disclaimer : Posting this forex robot here for free doesn't mean I am recommending it, I won't give feedback, use it at your own risk, and always try on demo account first.

Things every trader should know

Three things every trader should know:

1)Know Your Edge

2)Know Your Risk

3)Know Your Self

Know Your Edge

Obtaining a trading strategy or methodology which has produced a consistent stream of profits over time with acceptable drawdowns has to be the best starting point for the trader. Trading is a game of probabilities, so only taking trades which have a better chance of success than failure provides one with an edge mathematically as well as psychologically.

Know Your Risk

Before entering a trade I would want to know exactly how much trading capital I am risking as a percentage of my account balance. Even the best traders and trading systems suffer drawdown periods where a run of losing trades results in a temporary dip in trading equity, so I would want to limit the amount risked on each trade to 2 percent of my trading capital.

Know Your Self

This may sound like an odd one, but a trader’s character really does comes into play during the trading process. It is very easy to enter into a position, but once established one’s objectivity can become clouded as the human tendency to will the market in your favour comes into play. This becomes more of a factor as the amount of capital at Risk increases and the less sure of one’s Edge. Make sure that your trading style fits your personality, and new risk more capital than comfortable with.