Automatic candlestick pattern detection
On TradingView, you can use automated candlestick pattern indicators to find these patterns on the chart. A candlestick pattern is a price movement that is shown graphically on a candlestick chart. In technical analysis, candlestick patterns are used to predict future price movements based on the current chart trend.
Although the movements of such charts often seem random, they sometimes form patterns that traders use for technical analysis. These patterns are divided into bullish and bearish.
Bullish patterns indicate that a security’s price is likely to go up, whereas bearish patterns indicate that the security’s price is likely to go down.
How to access candlestick pattern indicators
To add candle pattern indicators to your Supercharts, open Indicators, metrics, and strategies. Then click Technicals → Patterns. There you'll see a list of all currently available indicators.
If you’d like to learn more about the specific candlestick pattern featured, simply point to the placemark and read the popup information listed in the tooltip. Check out the picture below as an example.
How to receive an alert notification when a candlestick pattern forms
The candle pattern search indicators work together with the alert system, so if you want to receive a notification every time a candle pattern appears on the chart, you can create a new alert via our Create Alert menu. To do this, you’ll need to add an indicator to the chart and then select it as an alert condition, as shown in the image below.
Also read: