The Japanese candlestick theory establish a series of patterns which are statistically previous to potential change or interruption of trends, a turning point in a current trend, etc.
As always, this type of tool has to be used as an indication of a possible favorable position to be taken, but it’s necessary to combine them with other techniques.
This forex plot type is not considered to be valid to take positions but rather to perform a follow-up of your Equivolume With Equivolume, you can plot price and volume activity on a single graph, instead of having volume added as an indicator on the side.
This tool draws the bars following their traded volume at a precise point in time (the wider the bar, the bigger the volume).
That creates a clear visualization of the volume increase or decrease of an asset’s diagram.
How to add a Candlestick Patterns Recognition indicator Significative line crosses indicators system Another tool you can use is our significative line crossing systems, including crossing averages, MACD cross and over zero signal.
Such as the indicators that detect patterns in Japanese Candlesticks (see above), the correct selection of your parameters are vital to avoid to be guided in your decisions by misleading signals.
How to add crosses indicators Once you have customized with all the options you need to analyze and trade the asset, you can save it.
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You can choose between 1500 different assets: all Forex crosses (and their reverse too - see below), but also main commodities and indices.