The indicator searches Price Action patterns on a chart. It shows market entry points, stop loss and take profit.

List of Candlestick Patterns Detected:

1. Railroad tracks and their variations (2 candles, 3 candles, 4 candles) both the Big and Small candles are identified. Total of 6 varieties (2candle, 2candlebig, 3candle, 3candlebig, 4candle, 4candlebig).
2. dblhcdbhlc
3. I2B
4. ppr
5. tbhtbl

The targets for takeprofit(green), stoploss(red) and openorder(yellow) – market entry are set according to the patterns. The reverse targets for takeprofit(“lime”), stoploss(purple) and openorder(yellow) are also implemented.

Description of the parameters:

• period of calculation of the average candle - period of calculation of the average candle
• Fibonacci goal # 1 - Fibonacci target №1
• Fibonacci goal # 2 - Fibonacci target №2
• Fibonacci goal # 3 - Fibonacci target №3
• average candle size in percents - average candle size in percents
• maximum of the candle shadow in percents - maximum size of the candle shadow in percents
• maximum range of candles in percents - maximum range of candles in percents
• the size of the big candle in percents - the size of the big candle in percents
• the maximum size of the candle adjacent to the big candle in % - the maximum size of the candle adjacent to the big candle in percents
• the minimum size of the candle adjacent to the big candle in % - the minimum size of the candle adjacent to the big candle in percents
• shift stoploss in percents - stop loss shift in percents
• use settings from file Fileskvind.txt or internal settings - use the parameter settings (candleSize, candleShadowSize, candleShiftSize, candlemaxxSize, candlemaxxp, candleminxp) from the Fileskvind.txt file or the internal settings. The parameters are configured for the symbols (EURUSD; GBPUSD; USDJPY; USDCAD; EURAUD; EURJPY; GOLD; NZDUSD). To use the custom settings, the useoptparam MUST BE SET TO FALSE (useoptparam=false)
• show the name of sign patterns - display the names of the patterns
• clearing patterns when overlapping each other - clear the patterns if they overlap
• show order reverse - display reverse orders
• show pattern 2candle - display the 2candle pattern
• show pattern 2candlebig - display the 2candlebig pattern
• show pattern 3candle - display the 3candle pattern
• show pattern 3candlebig - display the 3candlebig pattern
• show pattern 4candle - display the 4candle pattern
• show pattern 4candlebig - display the 4candlebig pattern
• show pattern dblhcdbhlc - display the dblhcdbhlc pattern
• show pattern I2B - display the I2B pattern
• show pattern ppr - display the ppr pattern
• show pattern tbhtbl - display the tbhtbl pattern

Not all patterns strictly meet the definition of Price Action.