Candlestick Pattern Scanner Indicator
A candlestick pattern indicator is a tool used in technical analysis to identify potential market reversals or continuations based on the arrangement of candlesticks on a price chart. Each candlestick represents price movement over a specific time frame, displaying the open, high, low, and close prices. Common candlestick patterns include dojis, hammers, engulfing patterns, and shooting stars, each signaling different market behaviors. Traders often use these indicators in conjunction with other technical indicators and analysis to make informed trading decisions.