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CPR - Candlestick Pattern Recognition

Introduction

CPR (Candlestick Pattern Recognition) is a Forex custom indicator designed to identify forming candlestick patterns on your charts. Candlesticks offer a unique perspective into the world of price and chart analysis and are usually used as entry points in conjunction with another system.

This indicator will attempt to offer commentary on the current patterns found as well as a quick scan, showing you the most recent pattern on each timeframe and how many bars back that pattern was found.

Below is the list of Patterns CPR looks for.

  • Morning Star or Morning Doji Star
  • Evening Star or Evening Doji Star
  • Three White Soldiers
  • Three Black Crows
  • Three Inside Up
  • Three Inside Down
  • Three Outside Up
  • Three Outside Down
  • Piercing Line
  • Dark Cloud Cover

To apply this indicator on your chart, simply drag and drop the "IBFX – CPR" from your Navigator's window "Custom indicator" list.

Files

Indicators Folder
IBFX - CPR.ex4
Last compiled on April 18th, 2010 on MT4 build 226

Download and Installation Process

Step 1: Download the setup file and double click on it. Follow on screen instructions.

Step 2: Select the tools you would like to install, click next. (Make sure to select your MT4 installation folder).

*This setup will not overwrite any previous version of the tools that was already open source*
*If you want the latest version of the open source tools, make sure to rename or delete them*

Risk Disclaimer

Our multibank liquidity feed delivers pricing from major money center banks right to your trading platform. In volatile or low liquidity market times, spreads may fluctuate and you may encounter slippage. Please take that into consideration when you are trading during volatile time periods. Fills are not guaranteed, especially during fast-moving market conditions, orders may not be filled as placed, and substantial losses may still occur.

Expert Advisors, Indicators and Scripts are not guaranteed to produce any particular outcome. As a trader, you are responsible for any trades created by any expert advisor you use. It is highly recommended that you use any advisor for an extended period of time on demo accounts and verify that it's producing your desired outcome.

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