Advanced Candlestick Pattern Detector

Advanced Candlestick Pattern Detector for NinjaTrader 8

This indicator automatically identifies 35 major candlestick patterns on your charts in real time, eliminating the need to spot these formations while you trade manually. It works by analyzing price action and highlighting specific patterns that traders commonly use to predict potential market reversals or continuations.

What It Actually Does

The indicator scans your charts continuously and marks candlestick patterns as they form. When it detects a pattern, it can color the candles, add text labels above or below them, and draw visual elements like lines for tweezers or shaded areas for gap windows. You control exactly which patterns you want to see and how they appear on your chart.

The 35 Patterns It Recognizes

The indicator covers bullish reversal patterns like hammers, engulfing white bodies, morning stars, and three white soldiers. It identifies bearish reversals, including shooting stars, dark cloud covers, evening stars, and three black crows. It also spots continuation patterns such as rising and falling windows, side-by-side formations, and the complex five candle patterns like rising and falling three methods.

Each pattern has been coded with specific criteria based on traditional Japanese candlestick analysis. For example, a hammer requires the lower shadow to be at least twice the body size with minimal upper shadow.

Customization Options

You get complete control over the visual presentation. Each pattern can be assigned its own color, making it easy to distinguish between different formations at a glance. You can display pattern names as full text or abbreviated codes, or turn labels off entirely. The indicator lets you enable or disable individual patterns based on your trading strategy, so you only see what matters to you.

Performance Features

To keep your charts running smoothly, you can limit how many historical bars the indicator analyzes. This prevents lag on charts with extensive history while still giving you pattern detection where you need it most.

Why Traders Find It Useful

Instead of spending time learning to recognize dozens of candlestick formations and constantly scanning charts for them, you can focus on your trading decisions while the indicator handles pattern identification. It removes the subjectivity from pattern recognition since each pattern follows consistent programmed rules. This is particularly valuable during fast market conditions when you need to quickly assess multiple timeframes or instruments.

The indicator only works in NinjaTrader 8 on any timeframe and any instrument, from one-minute charts to daily swing trading setups.