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Hammer and ShootingStar Detector by MoriFX MT4

Overview of the Hammer and ShootingStar Detector

  • Designed specifically for MetaTrader 4, this indicator assists traders in identifying key candlestick patterns.
  • The Hammer pattern typically signals a potential bullish reversal, while the Shooting Star indicates a potential bearish reversal.
  • Utilizes no repainting technology, ensuring that signals remain consistent and valid at all times.

    • Key Features

  • Real-time alerts via PC, mobile, and email notifications to keep traders updated on important market movements. ๐Ÿ“ˆ
  • Offers a user-friendly interface, making it accessible for both novice and seasoned traders.
  • Customizable settings allow traders to set their own parameters based on trading strategies.

    • Criteria for Patterns

    Hammer Pattern

  • Occurs during a downtrend.
  • The lower shadow is 2 to 3 times longer than the body, indicating buying interest.
  • May have little to no upper shadow.

    • Shooting Star Pattern

  • Forms during an uptrend.
  • The upper shadow should be at least 3 times longer than the body, suggesting selling pressure.
  • Limited to no lower shadow, indicating that the price retreated after reaching a peak.

    • Installation and Usage

  • Download the indicator file and integrate it into MetaTrader 4.
  • On the platform, navigate to the 'Indicators' section to load the Hammer and ShootingStar Detector.
  • Monitor the alerts and signals it generates for potential trade entries based on identified patterns.

    • Performance and Reliability

  • Backed by scientifically rigorous theories of market behavior, enhancing its effectiveness.
  • Combines well with other trading systems for a comprehensive approach to market analysis.
  • Encourages traders to consider broader market conditions before making trade decisions.
    • ๐ŸŒŸ

    Aren't you tired of endless search for that magical indicator that turns your charts into profit machines? Look no further! The Hammer and ShootingStar Detector by MoriFX claims to spot key candlestick patterns effortlessly โ€“ like a hawk eyeing its prey. But is it really the go ...

    Release Date: 12/05/2023

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