Japanese candlestick patterns with Price Breakout Pattern Scanner
Price Breakout Pattern Scanner can detect the important chart patterns like Triangle, Rising Wedge, Falling Wedge Pattern and so on. In addition, Price Breakout Pattern Scanner detects the Japanese candlestick patterns. Price Breakout Pattern Scanner can detect 52 different Japanese candlestick patterns. Properly used these provided chart patterns and Japanese Candlestick patterns, they can yield excellent trading results.
Japanese Candlestick patterns are categorized under five categories including one, two, three, four and five candlestick patterns. To use Japanese candlestick patterns, you can enable the candlestick pattern from Price Breakout Pattern Scanner input. See the attached screenshot for the purpose. If you wish, you can switch on and off the individual category of patterns according to your preferences. For example, you can only use two and three candlestick patterns if you wish. Japanese candlestick patterns are the supplementary tools when you trade with the chart patterns like Triangle, Rising Wedge, Falling Wedge Patterns. For example, you can use the Japanese candletick patterns as the secondary confirmation when you decide the trading direction of the chart patterns.
You can also receive sound alert, email and push notification when new Japanese candlestick patterns are detected. Here are the links to Price Breakout Pattern Scanner available in MetaTrader 4 and MetaTrader 5.
When you do not know how to use the chart patterns like Triangle, Falling Wedge, Rising Wedge Patterns, the quickest way to learn how to use them is to think them as the diasognal support and resistance. We have a lot of trading education to teach you how to trade with Triangle, Falling Wedge Pattern and Rising Wedge Pattern, Head and shoulder pattern and so on in our website. Below is the link to the Free Trading Education for Forex and Stock trading.
Image and article originally from www.mql5.com. Read the original article here.