Dark Cloud Cover Pattern Indicator MT4

Dark Cloud Cover Indicator MT4

Summary

The Dark Cloud Cover Pattern indicator is a candle pattern indicator that draws a signal on the chart whenever a matching candle pattern is formed. The indicator criteria are:

1. The first candle of this two candlestick pattern is a green real body. The second candle price opens above the prior session’s high (that is, above the top of the upper shadow).

2. The second candle closes well within the prior candle’s green real body; it requires more than a 50% penetration.

The signal is bearish and is shown as a red arrow above the candle. Indicator includes alert notifications.

Key Benefits

Candle patterns are some of the most commonly used technical analysis tools. This indicator allows you to quickly identify the Dark Cloud Cover Pattern either on the chart or in a separate window.

This will help you to scan the markets to analyse this signal against your trading strategy or to assist you in your trade management decisions.

 

For full indicator details and inputs visit the indicator page HERE

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