Every candle on your chart tells you something about the market’s mood, but it is easy to miss a specific signal when you are busy tracking multiple stocks. That is why we have added the FYERS Candlestick Patterns indicator on FYERS.
What is FYERS Candlestick Patterns?
This is a tool that scans your chart in real-time for classic price action formations. Instead of you hunting for a Doji or a Hammer manually, the indicator identifies them and labels them directly on your screen. It covers everything from single-candle signals to complex three-candle reversals.
How is it different from manual charting?
Most traders know the basic patterns, but spotting them consistently across different timeframes is difficult.
This indicator acts like a second pair of eyes. It labels the pattern the moment it forms so you do not overlook a setup just because you were focused on a different part of the screen. It helps you stay disciplined by identifying patterns only when they strictly meet the technical criteria.
How to read this
Once you add the indicator from the Indicators menu, you will see labels appear above or below specific candles:
- Bullish Patterns: These suggest a potential move up. Labels like “Hammer” or “Bullish Engulfing” will appear below a candle.
- Bearish Patterns: These suggest a potential move down. Labels like “Shooting Star” or “Bearish Harami” will appear above a candle.
- Settings: If your chart feels too crowded, you can go into the settings and toggle specific patterns on or off. This lets you focus only on the signals you actually trade.
Example
Imagine you are watching a stock that has been falling for three days. It finally reaches a major support level.
As a trader, you are looking for a sign of a bounce. Suddenly, a small label appears below the current candle: “Hammer.” The indicator has recognized that the selling pressure was rejected. Seeing that label at a key support level gives you the confirmation to look for a long entry, rather than just guessing where the bottom is.
Try it out
You can find FYERS Candlestick Patterns in the Indicators section on FYERS Web & App. It is a simple way to sharpen your price action skills and ensure you never miss a reversal signal again.
Do check it out and let us know which patterns you find most reliable in the comments below.
Pattern is the map Irshad, market is the territory, and territory does not always read the map I say.