Candle Patterns Detection

Medved Trader can do candle pattern detection, on charts - using a custom Candle Patterns option, in paintbars or in scans.

 

Candle pattern detection is highly susceptible to certain definitions such as what is a "long" or a "short" candle, what defines a "doji", and how to determine whether a candle wick is short or long.

 

Medved Trader allows the user to set some parameters that clarify these definitions, as you can see in the following pages:

 

Available Candle Patterns

 

Candle Patterns on Charts

 

Candle Patterns in Simple Paintbars/Scans

 

Candle Patterns in Advanced Paintbars/Scans

 

Also note that as a candle is built with the incoming data, the candle pattern for the candle may show up, then disappear. It is better to detect patterns using candles that already finished forming - using the Ago parameter of 1.