Pattern indicator is a powerful
multipurpose VertexFX client-side script indicator that identifies and displays
various candlestick patterns.
Candlestick patterns are a powerful ancient Japanese
method of identifying interesting occurrences in the price behavior. When the
price exhibits certain characteristics, there is a high probability that the
market will exhibit certain predictable behavior. For example, a Doji pattern
occurs when the opening and the closing prices are very close, and the candle
is short in height. It implies that the market is trading in a close range and
is undecided about the future course, or has exhausted the current course. For
example, a Doji pattern after a long bear market can imply change in direction
and a bullish trade can be initiated.
This indicator identifies 13 patterns. It is recommended to refer to the candlestick patterns for more details on trading opportunities.
This indicator identifies 13 patterns. It is recommended to refer to the candlestick patterns for more details on trading opportunities.
The candlestick patterns detected by this indicator are
:
1) Hanging Man.
2) Hammer.
3) Inverse Hammer.
4) Lower Marubozu.
5) Higher Marubozu.
6) Evening Star.
7) Engulfing.
8) Harami.
9) Piercing.
10) Three White Soldiers.
11) Southern Star.
12) Abandoned Baby.
13) Doji.
1) Hanging Man.
2) Hammer.
3) Inverse Hammer.
4) Lower Marubozu.
5) Higher Marubozu.
6) Evening Star.
7) Engulfing.
8) Harami.
9) Piercing.
10) Three White Soldiers.
11) Southern Star.
12) Abandoned Baby.
13) Doji.
C:\ProgramData\VertexFX Client Terminals\"Company
name"\VTL10\Local VTL Scripts, Then right click on the tree and select
refresh or restart your client station and you will find under VTL local
scripts in your client terminal.
You can check this video that talks about Pattern indicator: