Best Stock Charting Software With Candlestick Pattern Recognition

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Reversal candlestick patterns are an excellent way to enter or exit a trade. There are a quite a few candlestick patterns you can use and the best way to find them is to use a candlestick pattern indicator which you can download below.

You don’t want to miss any important reversal candle chart pattern and use pattern recognition software is one way to help ensure you are on top of any trading opportunities.

This candlestick pattern recognition indicator for MetaTrader will show you:

The candlestick pattern recognition indicator tests for any of 41 candlestick patterns of interest. When adding the indicator to a chart, choose as many patterns as you like from the list of available patterns. Other parameters include three values used by the indicator to perform the pattern matching. The 'Equal Percent' value is used to specify how close two prices must be to one another to. TOS features a great pattern recognition engine that finds both classic technical chart patterns and Japanese candlestick patterns. In this video I show you how to turn on pattern recognition in TOS and then customize which classic chart and candlestick patterns you want Think Or Swim to find for you. Steve Nison’s Candlestick Chart Software The secret to trading success isn’t working harder, it’s working smarter. Smart traders know how to breeze through their “big picture” analysis as quickly as possible so they can focus on individual trading situations.

Chart Patterns Highlighted in Real Time. Searching stock charts for growth patterns can be puzzling, even for seasoned investors. That’s why MarketSmith created Pattern Recognition: to help you spot proven growth patterns by automatically recognizing them as they happen, then integrating them directly into our charts.

  • Bullish patterns
  • Bearish patterns
  • With price action understanding, you will even spot potential breakout trading patterns which can get you on a solid trend.

Learning Candlestick Patterns Takes Time

There are a lot of Japanese candlestick patterns but only a handful are worth looking for. If you are looking for a reversal pattern, our minds often can make patterns out of nothing (like seeing animals in clouds).

Our brains are pattern recognition computers and will help feed your bias. A chart pattern indicator can help take the subjectivity out of your trading and ensure you are only looking at chart patterns that matter.

The candlestick pattern recognition indicator you can download will show 10 chart patterns for bullish and bearish outlooks:

  1. Shooting star
  2. Evening star
  3. Evening doji star
  4. Dark cloud pattern
  5. Bearish engulfing pattern
  6. Bullish hammer
  7. Morningstar
  8. Morning doji star
  9. Piercing line pattern
  10. Bullish Engulfing pattern

Free Stock Pattern Recognition Software

The meaning of these candlesticks will become clear when you see them on a chart. Keep in mind that candlestick patterns are a legitimate form of technical analysis and you should put some time into learning how to trade with them.

How The Forex Candlestick Pattern Indicator Works

  • Automatically scans the charts no matter which time frame you put it on and it will show you exactly where there are specific candlestick pattern formations such as the Evening Doji Star, Evening Star, Shooting Star, Bearish Engulfing Pattern, Dark Cloud Pattern, etc…
  • The candlestick pattern indicator is very easy to interpret by the user because on the top left-hand corner you will see that it has all the key/legend of the candlestick patterns that it can show.
  • If a specific candlestick forms, it shows some abbreviated letters above or below the pattern and you can interpret these abbreviations through the legend
  • Any abbreviated letters that form above a candlestick high indicate bearish candlestick patterns and any that forms below the low of a candlestick indicates that that specific candlestick is bullish.
This chart is a weekly and only shows 2 different types of candlestick reversal patterns:
  1. Bullish hammer
  2. Bearish engulfing

Best Stock Charting Software With Candlestick Pattern Recognition Software

Best stock charting software with candlestick pattern recognition tool

Best Stock Charting Software With Candlestick Pattern Recognition Free

You could actually use these weekly candlesticks to have a bias for the coming week on lower time frame charts.

How To Trade With The Reversal Candlestick Pattern Indicator?

There are many forex trading strategies on this website where the use of candlestick as a trade entry confirmation is imperative and will greatly assist you as a Forex trader who is just starting out and finding it difficult to tell which candlestick is which.

That’s where the candlestick indicator comes in very handy. You can be trading in any time frame using this candlestick pattern indicator and it will still show any reversal candlestick that forms in the time frame your chart is on.

You don’t have to trade every candle pattern you see and in certain conditions, you’d want to ignore some of the patterns:

  • In an uptrend, you’d only want to trade bullish reversal candlestick patterns which the indicator shows
  • In a downtrend, you’d only want to trade bearish reversal candlestick patterns

You may want to focus on support and resistance zones for trading any candlestick reversal the indicator shows. These are previous market turning points and could act in that manner again. Even using a technical indicator in a strategy like our Bollinger band trading strategy would work well with this indicator.

The standard trend line trading strategy could also be used as a reversal area and you would only trade if the pattern recognition software plots one of the 10 candlestick patterns

Candlestick Pattern Indicator Download Link

Here’s your download link to the Candlestick pattern indicator called the Pattern Recognition Master

Candlestick pattern recognition software is an invaluable tool to take advantage of if you are new to the stock market and/or to candlesticks. This technology has grown incredibly popular in the months and years since it became available to every-day at-home traders.
Candlestick pattern recognition software is that which scours the market at any time, around-the-clock 24 hours a day seven days a week looking for what the program believes to be a reliable candlestick pattern opportunity. Millions of investors regularly rely on this type of software to trade much more effectively in the stock market without the risk associated with it.
While there are more programs on the market than ever which are vying for your attention and claiming to be the best of the best, there are only a few providing technology to recognize Japanese candlestick patterns.
First and foremost, using pattern recognition software is hands-down the most reliable way to invest in the market today. This is because none of the most common and harmful factors associated with investing in the stock market have a chance of factoring in and sabotaging your trades.
Of course what is being referred to are human emotions and other human related factors which cloud judgment and lead you away from your exit strategy. It can be difficult to follow through with your exit strategy when emotions get in the way and this is when people really start to leak profits.
The candlestick pattern recognition software differentiates select candlestick patterns from standard candlesticks by using rules based algorithms to identify true bullish, bearish or neutral patterns.The program can generally highlight chosen patterns on your charts, regardless of timeframe, scan customized markets and alert you when your criteria have been met.
Once the candlestick pattern recognition software finds your selected criteria, it notifies you the investor so that you can make the final decision whether to invest accordingly armed with your projection of what to expect from that stock in terms of appreciation so you can set your stop loss accordingly. This just goes to show you the kinds of appreciations which you can experience when you are able to differentiate between proper candlestick patterns and false patterns.
Stock charts analysis software is also very cost-effective. Unlike hiring a full-service broker to do your analytical work for you, stock charts analysis software can be had for a one-time cost which is a welcome relief to the regular fees and commissions which brokers charge for you to do the same job and arguably not as effectively.
Using candlestick pattern recognition software will reduce tedious hours of analysis finding the best trade candidates, alert you immediately when your favorite candlestick pattern appears, whichever market you choose to trade, any time of day.
Even if you’re fresh off the boat when it comes to stock investing or you don’t have the time to devote to it, you’ll ready to realize your trading independence by giving the candlestick pattern recognition software a chance.

Candlestick Pattern Recognizer

It is highly suggested you give the best candlestick pattern recognition software a chance. Please visit www.candlecharts.com.

Best Candlestick Software