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Candle Patterns Forex Indicator Review

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Candle Patterns can be found within the MQL5 marketplace, it was first uploaded on the 22nd of July 2015 by its creator Paul Geirnaerdt, there has been a recent update on the 28th of March 2020 which brought the indicator up to version 1.1.

Overview

Candle Patterns is an indicator that can be used with the MetaTrader r4 platform, its main purpose is to show popular candle patterns on the charts. There are a number of patterns available including Inside Bar, Large Wick, Engulfing, Marubozu, Hammer, Shooting Star, Three White Soldiers, and Three Black Crows. The candles will be colored to make it easy to identify the patterns.

There is also a large number of parameters available with the indicator, these include things like a message box, whether to show inside bars, to show large wicks, to show Doji, to show Engulfing Bars or any other patters, colors and more.

Service Cost

The Candle Patterns indicator can be purchased for $30, it can also be rented for three months for $12 or six months for $19. Whichever option you choose you will have up to 10 activations of the indicator. A free demo version is also available that can be tested with the strategy tester within the MT4 platform.

Conclusion

There are two reviews however only one of them has a rating and it has given the indicator an overall rating of 5 out of 5.

“Good candle patterns indicator” – A 5-star review.

“Color candle is not displayed” – No rating is given.

So one is positive while the other is stating that a feature was not working properly, we had a look at the comments section, the developer has been very active in replying to comments and offering support which is a great sign and is an indication for the sort of support you will receive should you decide to make a purchase or a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/10674

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