Modified morning and evening stars — Indicator by iitiantradingsage

trendanalysis volumestudies morningstar eveningstar reversalpattern candlestickpattern

This script highlights modified version of evening and morning star candlestick patterns. Volume has also been added in the script to create convergence of volume with price action.

It is recommended to use these patterns for positional trading. It is advised to use

Morning star at the bottom of the downtrend
Evening star at the top of the uptrend

Avoid entries against above recommendations

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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