Summary

The Piercing 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 red body. 

2. The second candle price opens below the prior candle low price (that is, below the low of the lower shadow). 

3. And then, the second candle closes equal or higher than 50% and well within the prior candle’s red body.

The signal is bullish and is shown as a green arrow below the candle. Indicator includes alert notifications.

To read more about this candle pattern with real chart examples follow the link to the article.

Related Candle Pattern is a Dark Cloud Cover Candle Pattern. To read more about this pattern with real chart examples follow the link to the article. 

Key Benefits

Candle patterns are some of the most commonly used technical analysis tools. This indicator allows you to quickly identify the Piercing Candle 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.

Compatibility

Metatrader 4 – MT4.

Variation

The indicator signals are displayed in a separate window off chart (oc).

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Inputs

Chart Examples

Signal on Chart

Signal off Chart

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Testimonials

Frequently Asked Questions

After you purchase your indicator, you will see a purchase confirmation page. On this page you will be able to download your purchased indicator. You will also receive an email some time after purchase with another copy of the download link.


You can find full instructions on how to install and activate in this article: How to Install and Use MT4 Custom Indicators and EAs (full guide).

No, custom MT4 indicators and EAs only work on the desktop version of MT4. It is also recommended that you checkout on a PC.

You will be directed to a checkout page to complete your download. If it is a free indicator then you will just need to put in your name and email address and then you will receive access to the free download.

We collect names and email addresses during download as a way to discourage bots from downloading from the site.

We will use your email address to send automated confirmations of your downloads or purchase. We may send further correspondence to you regarding updates on NothardTrading.com but you will be able to opt out of any correspondence if you choose.

No, sharing of the indicators or EAs that you download (whether free of paid) is not allowed by the licence terms. However, please feel free to share our website with others so that they can come and download themselves.

All downloads whether free or paid are subject to the Digital Download Terms And Conditions as found here: LINK.

There is no support available with the Free downloads. We are happy to receive feedback and suggestions, please send these via our contacts page: LINK

These products are sold with limited support and ‘as is’. Information on the indicators, their purpose, functionality and inputs are available on each individual indicators page and associated PDF guide which is free to download and review.

For basic troubleshooting please email [email protected] with your purchase reference and we will respond within 24 hours (Monday-Friday).

Justina Nothard

Justina Nothard

Hi, I’m Justina Nothard, a retail investor trading Stock Index Futures.

I understand how hard it can be for the ordinary trader to learn the basics and find useful tools and practical information.

This is why I decided to create Nothard Trading to help you take control of your trading.

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