Chart patterns
- All chart patterns and candlestick patterns are available in NanoTrader Free and NanoTrader Full.
- Client can use all patterns FREE of charge.
- Some of the patterns have been integrated in screeners, signals or strategies.
How do I use the chart patterns and trading patterns in the trading platform?
18 Candlestick patterns
Detect 18 different candlestick patterns, and use them as trading signals.
1-2-3-4 – Jeff Cooper
The 1-2-3-4 chart pattern identifies markets which are breaking out of consolidation.
Hammer Blast – Stefan Salomon
This pattern identifies market rebounds.
Hikkake – Daniel Chesler
The Hikkake pattern is used to identify possible turning points in the market.
One Day Reversal – Jesse Livermore
This pattern was defined by the well-known trader Jesse Livermore, who considers it a strong signal.
Gap Reversal – David Pieper
As the name indicates, this chart pattern includes an opening gap.
Market Structure Points
Market structure points are important chart patterns, which every trader should be able to identify and keep an eye on.
Inside bar break-out
Inside bars indicate a period of consolidation in a market and they often form following a strong move in a market, as it pauses to consolidate before making its next move.
Bullish Engulfing
A Bullish Engulfing pattern consists of two candlesticks: a bearish candlestick (red) with a small body followed by a bullish candlestick (green) with a larger body. The body of the bullish candlestick engulfs the body of the bearish candlestick.
Bearish Engulfing
A Bullish Engulfing pattern consists of two candlesticks: a bearish candlestick (red) with a small body followed by a bullish candlestick (green) with a larger body. The body of the bullish candlestick engulfs the body of the bearish candlestick.
Using the patterns in the trading platform
What is the difference between a chart pattern, a screener, a trading signal and a trading strategy?
A patterns appears automatically in the chart. You can manually place an order when the pattern occurs. A screener is used to detect a pattern in a selection of markets. A signal can be used to automatically or manually open a position. You can then manage the position by adding stops and targets. Strategies are complete with stops and targets. They can be traded manually, semi-automatically or automatically.
When a chart pattern appears, is it always an opportunity to open a position?
No. Detecting a pattern is the first step, putting the pattern in the right context and trading it is the next step. This is where the NanoTrader excels and makes it easy for you. Examples are given on the web pages which explain the chart patterns.
Where do I find the chart patterns in the NanoTrader?
In the NanoTrader you can find the charts patterns in the WHS Patterns folder:
