Access fundamental data, analyst recommendations and CEO compensation of 66, public companies around the world. Quickly compare and filter the best stocks in the market. Our system scans through thousands of securities every second to find the best trading opportunities for you. Not all patterns are created equal. Our proprietary Machine Learning algorithm filters out the bad patterns for you.
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Global Company Fundamentals Access fundamental data, analyst recommendations and CEO compensation of 66, public companies around the world. Global Economics Indicators Access 10, standardized economic indicators from countries gloablly. However, you cannot set a custom color for neutral patterns. In the image above, you can see the neutral patterns highlighted in a yellow color. Since that color can't be changed, those labels could be difficult to read with certain background colors.
Top 3 Candlestick Pattern Analysis & Recognition Software
Another feature that I would like to see which may not be important to you is the ability to set a separate custom color for each individual pattern. Some of the other indicators that I tested were capable of that, and I can see that being useful to some traders.
The image below shows the full labels. However, it's nice to have the option to switch back and forth when you're learning. None of the other indicators that I tested had the ability to choose. Most used full labels. You could print out or reference this legend if you ever need help to determine what a certain abbreviation represents.
That way you wouldn't need to switch back and forth between full and abbreviated labels. However, I found the abbreviation system to be fairly easy to understand, e. As you can see, even with all of the candlestick patterns enabled, the chart is still relatively clean looking.
Is Nison Candle Scanner or Nison Candle Highlighter Right for You?
Of course, it would look completely different if I had selected full labels for this image. Although the chart below may look messy to you, it's a huge improvement over the other indicators that I tested. Many of the other indicators that I tested did not allow for abbreviated labels. Nearly all of the other indicators that I tested crowded the candlestick wick with their labels. As you can imagine, the crowding labels make it difficult to see the absolute highs or lows of the wicks.
They also make it difficult to accurately use the measuring tool. I've been trading candlestick patterns for nearly 6 years. Using candlestick patterns as entry signals is one of my favorite trading techniques. However, I never trade candlestick patterns on their own. Instead, I like to combine them with other trading techniques and look for a confluence of signals.
My favorite way to trade candlesticks is to combine the strong reversal patterns with regular MACD divergence. In the image above, you can see several examples of this. In total, there were 4 candlestick patterns that would have been good entry triggers into these divergence trades. Of those 4, only 1 of them would not have earned at least a reward to risk ratio. As I mentioned earlier, I was only able to test the Nison Candle Highlighter for a couple of weeks instead of a month. That's because I had trouble activating it on my desktop PC. The guys at CandleCharts. The main tech support guy, Syl, even remotely viewed my PC to make sure that I wasn't making some kind of mistake during installation.
He worked on the problem, trying many different things, for about an hour.
When he was unable to resolve the issue, he got their programmer to do the same thing. These guys spent hours altogether trying to get this figured out for me. I had been meaning to get one anyway. Nison Candle Highlighter installed right away on the new laptop. I think I have an idea of why there was a problem. I rebuilt my PC a couple of years back and used the same hard drive. When I boot the system, the first screen says that I'm using an American Microtrends motherboard.
However, my new motherboard is an ASUS so there's obviously a problem. I've known about this for a while and I've been meaning to fix the issue. I've shown you some features that I like about Steve's indicator as well as some ways that I think it could be improved. I also told you about how hard their support staff worked on my behalf.
This can be very useful to a trader who is just starting to discover the power of candlestick trading or even an experienced candlestick trader who would like to learn how to trade them according to Steve Nison's specifications. Although it isn't perfect, Steve's indicator is much more accurate than any other indicator that I've tested so far.
The price may be a barrier to some, but I know that others will find the benefits well worth the price. You should receive an email with all the information that you need.
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There is a setting to allow it to label potential candlestick signals as they are forming as long as they continue to meet the parameters needed. You can also change the setting to only label a candlestick signal once it is closed. How can i get this without paying that excesive price?? And i want for mt4 with alerts by the way.
If something helps you make money instead of losing it, it is well worth getting — especially at this price. Most tools related to trading are much more expensive. That is if the highlighter is even different from the scanner. Are the divergences drawn automatically on your charts?
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What indicator is that? Nice name, BTW! I did that with an image editor to illustrate the technique. It just ended up making the chart look cluttered, which is the opposite of what I need to make accurate and timely trading decisions. I did that in the beginning. The default indicator is not correct. It does not display the MACD indicator in the standard way. Thank you Chris!
Scanners detect trading signals |
I went through the course the last couple of months, done my backtesting and if everything works out I should be up and running somewhere next week. Experiencing some technical problems at the moment, that security key for the TDT indicators is a pain like you wrote in your review.
Yeah… I wish they would change the security key process for the indicators, but at least they answer their emails fairly quickly. Good luck! Can I use my license on more than one computer?