![]() ![]() Only then will the trade have to take the decision. It will plot the information related to candlestick patterns. You should first know that it is not a buy-or-sell signal generator. So, we should trade only bearish candlestick patterns on lower timeframes. When a bearish pin bar forms on the daily timeframe, it means a bearish trend is about to form. Due to this indicator, I will know that a bearish pin bar is forming daily, so I should avoid bullish trades because a trader should always follow the big trend. ![]() It is advantageous because of multi-timeframe analysis. The dashboard is a separate window on the MT4 screen that has seven columns. If you add this indicator to the EURUSD chart, it will show the bearish and bullish candlestick patterns in a dashboard. This MT4 scanner is an informational type indicator that displays the formation of candlestick patterns on different timeframes.įor example. ![]() ![]() Indicator information table How does the candlestick pattern scanner work in MT4? So, it is easy for traders to identify the candlestick patterns from multiple timeframes. A Candlestick pattern scanner is an MT4 indicator that scans the candlestick patterns from multiple timeframes of a currency pair and then displays those patterns in a dashboard. ![]()
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