Many traders ask me for the detailed descriptions of the Japanese candlestick patterns that are detected by the MT4 indicator Pattern Recognition Master. So, here’s the list of the patterns that it can recognize with the corresponding chart pictures and signal descriptions:
| Bearish patterns | |
|---|---|
 |
Shooting star. Can signal an end of the bullish trend. Should be confirmed by other patterns. The longer is the shadow the stronger is the signal. |
 |
Evening star. Acts as a stronger trend reversal signal. Note that the shadows should be very short and the body shouldn’t large as well. |
 |
Evening doji star. Almost the same as previous, but some traders consider it a stronger signal. |
 |
Dark cloud pattern. The |
 |
Bearish engulfing pattern. This |
| Bullish patterns | |
 |
Bullish hammer. Can signal an end of the bearish trend. Should be confirmed by other patterns. The longer is the shadow the stronger is the signal. |
 |
Morning star. Acts as a stronger trend reversal signal. Note that the shadows should be very short and the body shouldn’t large as well. |
 |
Morning doji star. Almost the same as previous, but some traders consider it a stronger signal. |
 |
Piercing line pattern. The |
 |
Bullish engulfing pattern. This |
If you never hear about Pattern Recognition Master before and don’t want to detect these patterns on your own, then you can simply download this wonderful indicator.
March 11th, 2010 at 1:30 pm
Thanks for this. I Really like the Pattern Recognition Master. By the way, what’s the significance of the numbers after some of the abbreviations, for example for Shooting Star, SS 1, 2, 3 etc?
Thanks, Dervish
▼Reply
Andrei Reply:
March 11th, 2010 at 5:02 pm
Different types of patterns, depending on the relative length of the candle’s shadows.
▼Reply
August 20th, 2011 at 6:32 am
Thanks for the PRM. Really cool and I am sure will make life more simpler.
▼Reply
admin Reply:
August 26th, 2011 at 8:02 pm
Let me know if you find it helpful.
▼Reply