ninjacators candlestickpatternspotter manual

8/20/2019 Ninjacators CandlestickPatternSpotter Manual

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Manual

CANDLESTICK PATTERN SPOTTER INDICATOR


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CONTENTS Import the Indicator to your NinjaTrader Platform .............................................. 2

Indicator Description ........................................................................................... 3

Indicator Settings .............................................................................................. 28

Disclaimer ......................................................................................................... 33


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Import the Indicator to your NinjaTrader Platform

To import an indicator to your NinjaTrader, please be sure that you are saving the .Zip indicator

file to your PC and not opening it.

We simply want to save the file, so that it stays zipped. NinjaTrader will do the hard part for us.

Please use the following steps to install the indicator:

• Open NinjaTrader

• The Control Center will be the first window that is displayed when opening NinjaTrader

• Go to Control Center>File>Utilities>Import NinjaScript

• Navigate to and choose the indicator file (starts with ‘ncat’)

• Click 'OK'

• Restart NinjaTrader

You can also take a look at the following Link. There you will find a video explanation on ‘how to

install the indicator’: https://www.ninjacators.com/Indicator-installation/

https://www.ninjacators.com/Indicator-installation/https://www.ninjacators.com/Indicator-installation/https://www.ninjacators.com/Indicator-installation/https://www.ninjacators.com/Indicator-installation/


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Indicator Description

The Candlestick Pattern Spotter does just what its name says, it detects the most common

Candlestick Patterns directly on your chart.

No matter if you day-, swing or position trade this indicator can be a great help spotting profitable

Candlestick Pattern trade setups in any market and on any time frame.

For detailed informations regarding the setup, use and the detailed settings please watch the

detailed video here: CLICK HERE

Below you find an overview and short explanation of the 25 Candelstick Patterns the indicator

automatically detects.

http://youtu.be/lCvqznq9lEQhttp://youtu.be/lCvqznq9lEQhttp://youtu.be/lCvqznq9lEQhttp://youtu.be/lCvqznq9lEQ


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Bearish Engulfing

A bearish engulfing pattern may indicate a reversal pattern when formed in an up-trending

market. This pattern consists of two candlesticks: A small candlestick followed by a large

candlestick. Figure below displays the pattern:

Trading Pattern Reversal

Trend Prediction Bearish

Period Trend Bullish

Number of Candlesticks 2

Trading Pattern

A two day candlestick pattern, which displays an down trend in the market.


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Bullish Engulfing

A bullish engulfing pattern may indicate a reversal pattern when formed in a down-trending

market. This pattern consists of a large up body engulfing a preceding small down body, which

appears during a downtrend. The up candle does not necessarily engulf the shadows of the down

candle but totally engulfs the body itself. Figure below displays the pattern:


Trend Prediction Bullish

Period Trend Bearish


Trading Pattern

• A two candle pattern, which displays down-trend in the market.


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Bearish Harami

A Bearish Harami is a two candle Reversal candlestick pattern that occurs in up-trending market.

This pattern consists of a small body contained within a prior relatively long body. Harami is old

Japanese word for pregnant. The long green candlestick is the mother and the small candlestick

is the baby. Figure below displays the pattern:





Trading Pattern

• A two candle pattern, which displays an uptrend in the market.


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Bullish Harami

A Harami is a signal, which implies an approaching potential change. The Bullish Harami is a

candlestick pattern that occurs in down trending markets. This pattern consists of a small up body

contained within a prior relatively long down body. Figure below displays the pattern:





Trading Pattern

• A two candle pattern in a down-trending market.


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Bearish Harami Cross

Bearish Harami Cross Pattern is a doji preceded by a long body. The Bearish Harami Cross Pattern

is a major reversal pattern and is more significant than a regular Bearish Harami Pattern. Figure

below displays the pattern:





Trading Pattern

• A two candle pattern, which displays an uptrend in the market.


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Bullish Harami Cross

Bullish Harami Cross Pattern is a doji preceded by a long down body. The Bullish Harami Cross

Pattern is a major bullish reversal pattern. It is more significant than a regular Bullish Harami

Pattern. Figure below displays the pattern:





Trading Pattern



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Dark Cloud Cover

The Dark Cloud Cover is a two-candlestick pattern signaling a top reversal after an uptrend or, at

times, at the top of a congestion band. It consists of a strong up body in the first candle. The

second candle opens strongly above the previous candle high. However, candle closes near the

low of the candle and well within the up body of prior candle. Figure below displays the pattern:





Trading Pattern

• A two candle pattern in an up-trending market.


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Doji

The Doji is a neutral candlestick pattern representing indecision between bulls and bears. If a

security has virtually equal opening and closing prices, this leads to a Doji. The length of the upperand lower shadows of a Doji can vary and consequently the resulting candlestick may look like a

cross, inverted cross or a plus sign.

A Doji with an equal open and close may be considered more robust but it is also rare in the real

life. Hence, Doji is a particular signal showing indecision about the direction of the market and it

represents a tug of war between buyers and sellers. Doji simply shows that prices have moved

above and below the opening price during the day. It shows that neither the bulls nor the bears

were able to gain control during the day.

The Morning Star and the Evening Star are also doji formations.

Trading Pattern Reversal/Continuation

Trend Prediction Indecision

Period Trend N/A


Trading Pattern

• The real body is either a horizontal line or it is significantly small.


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Evening Star

Evening Star is a bearish Reversal candlestick pattern that occurs in up-trending markets. Evening

Star patterns are the opposite of Morning Star patterns. Figure below displays the pattern:





Trading Pattern• A three candle pattern in an up-trending market.


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Morning Star

A Morning Star is a bullish Reversal candlestick pattern that occurs in a bearish market. It is

composed of a long down body in the first candle, a second small real body (up or down), and

gapping lower to form a star. These two candlesticks define a basic star pattern. The third is an

up candle that closes well into the down real candlestick body of the first session. Figure below

displays the pattern:





Trading Pattern• A three candle pattern in a down-trending market.


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Falling Three Methodes

Falling Three Methods is a bearish continuation candlestick pattern that occurs in a declining

markets. Figure below displays the pattern:

Trading Pattern Continuation




Trading Pattern

• A five candle pattern in a declining markets.


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Rising Three Methodes

The Bullish Rising Three Methods is a continuation pattern representing a pause during a trend

without causing a reversal. This pattern consists of a long green candlestick followed by three

small bodies in three consecutive candles. The small bodies represent some resistance to previous

uptrend and they may even trace a short downtrend. These three reaction candles usually have

down candlesticks but the bodies remain within the high and low range of the up candlestick. The

pattern is an up candlestick completes the pattern on the fifth candle. The small downtrend

between the two long up candlesticks represents a break during the uptrend. The upward trend

then resumes and continues. Figure below displays the pattern:





Trading Pattern

• A five candle pattern in an up-trending market.


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Hammer

The hammer candlestick consists of a long lower shadow and a closing price near or at the high

of the candle. This type of candlestick is considered bullish after a significant downtrend or in

oversold market. The hammer can be very useful to predict trend reversals; from bearish to

bullish. Figure below displays the pattern:

Trading Pattern Bottom Reversal




Trading Pattern

• A one candle pattern in a declining markets.


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Inverted Hammer

Inverted Hammer Pattern consists of a long upper shadow and a small real body preceded by a

long down real body. It is similar in shape to the Bearish Shooting Star. The shooting star appears

in a downtrend and thus it becomes a potentially bullish inverted hammer. Figure below displays

the pattern:





Trading Pattern



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Hanging Man

The Hanging Man pattern is a single candlestick and a top reversal pattern. It is very similar to the

Bearish Dragonfly Doji pattern. In case of the Bearish Dragonfly Doji pattern, the opening and

closing prices are identical whereas the Bearish Hanging Man pattern has a small real body. Figure

below displays the pattern:





Trading Pattern

• A one candle pattern in an up-trending market.


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Piercing Line

Piercing Line is a bottom reversal pattern. A long red candlestick is followed by a gap lower during

the next candle while the market is in downtrend. The previous candle ends up as a strong up

candlestick, which closes more than halfway into the prior red candlestick real body. Figure below

displays the pattern:





Trading Pattern



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Shooting Star

The Shooting Star Pattern suggests that prices may be approaching to a top, as its name, a

shooting star. The shooting star is a small real body characterized by a long upper shadow, which

gaps away from the prior real body. Figure below displays the pattern:





Trading Pattern

• A two candle pattern in an up-trending market.


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Stick Sandwich

The Bullish Stick Sandwich Pattern is characterized by consecutive higher opens for three candles,

but results in an eventual close equal to the first candles close. It may warn that prices are now

finding a support price. We may then see a reversal from this support level. Figure below displays

the pattern:





Trading Pattern

• A three candle pattern in a down-trending market.


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Upside Gap Two Crows

The Upside Gap Two Crows pattern is a three-candlestick pattern and it signals a Reversal. The

first candlestick is a long green candlestick followed by a real body that gap higher. Another down

real body completes the pattern. The later one opens above the open and closes of the second

day candlestick under the second candles close. Figure below displays the pattern:





Trading Pattern

• A three candle pattern in an up-trending market.


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Upside Tasuki Gap

The pattern consists of two long up candlesticks with a gap upward between them during an

uptrend. However the pattern also shows a down candlestick on the third candle partially closing

the gap between the first two. Figure below displays the pattern:





Trading Pattern



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Downside Tasuki Gap

The pattern consists of two long down candlesticks with a gap downwards between them during

a down trend. However the pattern also shows a up candlestick on the third candle partially

closing the gap between the first two. Figure below displays the pattern:





Trading Pattern

• A three candle pattern in an down-trending market.


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Bearish Belt Hold

The Bearish Belt Hold Pattern is a single candlestick pattern and an opening Marubozu that occurs

in an uptrend. The pattern shows that the candle opens on its high; it then rallies against the trend

of the market, and then closes near its low. Figure below displays the pattern:





Trading Pattern• A one candlestick pattern, which displays an uptrend in the market.


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Bullish Belt Hold

The Bullish Belt Hold Pattern is a single candlestick pattern. It is basically a up Opening Marubozu

that occurs in a downtrend. Figure below displays the pattern:





Trading Pattern• A one candle pattern in a down-trending market.


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Three Black Crows

A Three Black Crows Reversal candlestick formation occurs in uptrends. It's composed of 3 large

bearish candlesticks.





Trading Pattern


Note: The three black crows candle formation does not happen very frequently, but when it does

occur, swing traders should be very alert to the crow’s caw.

Three White Soldiers

A Three white Soldiers Reversal candlestick formation occurs in downtrends. It's composed of 3

large bullish candlesticks. The pattern is the opposite of the three black crow’s formation.

Trading Pattern ReversalTrend Prediction Bullish



Trading Pattern

• A three candle pattern in a down-trending and declining market.

Note: The three white soldiers candle formation does not happen very frequently, but when it

does occur, swing traders should be very alert to the crow’s caw.


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Indicator Settings

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3

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1


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6


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NUMBER 1 Global

BarsType: You can choose if you like to use Normal Bars or Heiken Ashi Bars.

NOTE: The Heiken Ashi Bars is a good tool to implement Candle Stick Patterns such

as Doji on your Renko Charts.

NUMBER 2 Ninjacators

Short Logo: False: This will display the short Ninjacators logo

True: This will display the long Ninjacators logo

NUMBER 3 Alerts

Choose any sound file within NinjaTrader for the different alerts.

NUMBER 4 Colors

Each and every color can be set to your personal preferences.

NUMBER 5 Emails

Send email alerts when a pattern gets triggered

Important: You need to setup your Email in NinjaTrader first. You can watch the video

on how to do that in right here: CLICK HERE TO WATCH A SHORT EXPLANATION VIDEO

NUMBER 6 Names

Use the default names for the different patterns or choose a name you like to have

for each one of the patterns.

NUMBER 7 Parameters

EmailAddress: Set up your email address if you like to receive email alerts. You need

to set up your Email in NinjaTrader first. (See Number 5)

Font: Change the Style of the Font

Label Distance: Choose the label distance

Label Height: Choose the height of the label

MatchCandleAndOutlineColor: When set true true the candle outline will have the

same color as the pattern color.

Text Color: Choose any color you like for the text

Trend Strength: Choose the strength of the trend.

NUMBER 8 Search for

Choose the Pattern you like the indicator to search for. If set to ‘True’ the indicator

will search for the pattern, if set to ‘False’ the indicator stops searching for that

particular pattern.

http://youtu.be/k21fwLHyDuY?list=PLLm0su57ipGu85KC-e90qNSZa5eklM-6Ohttp://youtu.be/k21fwLHyDuY?list=PLLm0su57ipGu85KC-e90qNSZa5eklM-6Ohttp://youtu.be/k21fwLHyDuY?list=PLLm0su57ipGu85KC-e90qNSZa5eklM-6O


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NUMBER 9 Data

True will update this indicator with every bar close. False will update this indicator

with every incoming tick. We recommend you choose ‘TRUE’ for this indicator.

Input Series: This default should Not be changed.

Maximum bars look back: TwoHundredFiftySix : Do Not Change

NUMBER 10 Visual

Auto scale: True

Displacement: 0

Display in Data Box: The Indicator cannot be displayed in the Data Box.

Label: Indicator Name

Panel: Same as input series.

Price marker(s): True or False

Scale justification: Right


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Disclaimer

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COURSE OF DEALING, COURSE OF PERFORMANCE, OR TRADE USAGE. NINJACATORS.COM AND ITS SUPPLIERS DO

NOT WARRANT THAT THE SOFTWARE WILL MEET YOUR NEEDS OR BE FREE FROM ERRORS, OR THAT THE

OPERATIONS OF THE SOFTWARE WILL BE UNINTERRUPTED. NINJACATORS.COM AND ITS SUPPLIERS DO NOT

WARRANT THE ACCURACY OF THE REPORTS GENERATED. THE FOREGOING EXCLUSIONS AND DISCLAIMERS ARE AN

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ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE

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ninjacators candlestickpatternspotter manual

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