The Auto Chart Patterns TradingView Indicator: A Comprehensive Guide
Discover another powerful pattern recognition indicator for automated chart analysis in TradingView.
How to Use TradingView's Most Powerful Candlestick Pattern Indicator (All Candlestick Patterns)
Table of Contents
- Introduction
- How to Find and Add the Candlestick Pattern Indicator
- Understanding the Buy and Sell Signals
- My Optimal Settings Configuration
- Enhancing Results with Market Structure
- Complete Trading Strategy Implementation
- Advanced Tips for Maximum Profitability
- Common Mistakes to Avoid
- What Results Can You Expect?
- FAQ
- Quiz
- Conclusion
If you're looking for a way to automatically identify profitable candlestick patterns in any market, this guide will show you exactly how to use TradingView's most powerful pattern recognition indicator. I'll reveal the optimal settings that most traders miss, and demonstrate how combining it with one additional indicator can dramatically improve your trading results.
Introduction
The TradingView candlestick pattern indicator finds buy and sell signals in any market, but here's the problem - most traders use it completely wrong. After extensive testing across multiple markets and timeframes, I've discovered the exact settings and combinations that can help transform this basic tool into a powerful trading system.
In this comprehensive guide, you'll learn:
How to find and activate the indicator (even if it's not showing up in your search)
The optimal settings I use for filtering out false signals
Which specific patterns provide the highest probability trades
How to combine it with market structure for enhanced accuracy
A complete trading strategy with precise entry and exit rules
Whether you're trading crypto, stocks, or forex, this approach can work across all markets. While the indicator functions on any timeframe, I've found that certain patterns and signals perform best on the daily timeframe - something I'll explain in detail.
How to Find and Add the Candlestick Pattern Indicator
60-Second Setup Guide
1
Open TradingView chart
2
Click "Indicators" tab
3
Search: "all candlestick patterns"
4
Select first result
Can't find it? Try "star all candlestick patterns" or search in your language
Need Full Access?
Get 30 Days Free Plus $15 bonus creditLet me walk you through the exact steps to add this powerful indicator to your charts. First, open a clean chart in TradingView - I'm currently analyzing Super Micro Computer stock on the daily timeframe as an example.
To find the indicator:
Click on the "Indicators" tab at the top of TradingView
Search for "all candlestick patterns"
Look for the indicator called "All Candlestick Patterns" (it should appear at the top)
Troubleshooting Tip
If the indicator doesn't appear in your search results, try these alternatives:
Search for "star all candlestick patterns"
Try searching in your native language
Ensure you have at least the TradingView Essential plan
The indicator is available on TradingView's free plan, though you may need the Essential plan for full functionality. If you don't have access, you can try TradingView Premium free for 30 days using the special link in the resources section, which also includes a $15 bonus if you decide to upgrade.
Understanding the Buy and Sell Signals
Once you add the indicator, you'll immediately notice multiple signals appearing on your chart:
Red Signals: These indicate sell opportunities - bearish candlestick patterns suggesting potential downward movement
Blue Signals: These show buy opportunities - bullish patterns indicating potential upward movement
Gray Signals: These represent neutral or indecision patterns where neither bulls nor bears have clear control
The beauty of this indicator lies in its ability to automatically identify these patterns across your entire chart, saving hours of manual analysis.
My Optimal Settings Configuration
My Proven Settings Configuration
🎯 Critical Filter Setting
📊 My Top 5 Patterns
🟢
Engulfing
Most reliable & frequent
🔨
Hammer
Best bullish reversal
🌟
Shooting Star
Top identification
⚡
Hanging Man
Trend change signal
🔄
Inverted Hammer
Reversal detection
Now comes the crucial part - configuring the indicator for maximum effectiveness. Click on the settings cogwheel next to "All Patterns" to access the configuration panel.
The Critical Filter Setting
The most important setting is "Detect trend based on" at the top. This filter can dramatically reduce false signals:
No detection: Provides the most signals but includes many false positives
SMA 200: Filters too aggressively, potentially missing good opportunities
SMA 50: My preferred setting - provides the perfect balance between signal quality and quantity
I recommend keeping it simple with the SMA 50 setting. This filters out counter-trend signals while still capturing high-probability setups.
Selecting the Most Effective Patterns
While the indicator can detect dozens of patterns, I focus on specific ones that meet three criteria:
Simplicity - easy to understand and trade
Effectiveness - historically profitable
Frequency - appear often enough to be practical
Here are the patterns I always enable:
Engulfing Pattern: One of the most reliable and frequent patterns. This appears often and provides excellent risk-reward opportunities.
Hammer: My favorite bullish reversal pattern, especially effective at support levels.
Shooting Star: The bearish counterpart to the hammer, excellent for identifying potential tops.
Hanging Man: Another powerful reversal pattern that can signal trend changes.
Inverted Hammer: Complements the regular hammer for comprehensive reversal detection.
Doji (Optional): While this is an indecision candle, it can be valuable depending on market context.
Enhancing Results with Market Structure
Here's where we take this strategy to the next level. While the candlestick pattern indicator is useful alone, combining it with market structure analysis can significantly improve your success rate.
Adding the Pivot Points Indicator
Go to Indicators and search for "pivot points high low"
Select the built-in TradingView version
Configure these settings:
Pivot High: 20
Pivot Low: 20
Colors: Black and white for clarity
This indicator identifies historically significant price levels where reversals have occurred. These pivot points create natural support and resistance zones.
Why This Combination Works
When a candlestick pattern appears at a key structural level, the probability of success increases dramatically. For example:
A bullish engulfing pattern at support becomes a high-probability long trade
A bearish engulfing at resistance offers an excellent short opportunity
Complete Trading Strategy Implementation
My Complete Trading Strategy
📍 Entry Rules
1
Pattern signal at pivot point
2
Confirm trend with SMA 50
3
Enter at pattern close
🛡️ Stop Loss
Conservative:
Below pattern low (longs)
Aggressive:
At support/resistance zone
🎯 Profit Target
2:1 Risk/Reward
- Below next resistance (longs)
- Above next support (shorts)
💡 Real Trade Example
Setup:
Bullish Engulfing at Support
Result:
✓ Target Achieved
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Let me share the exact trading approach I use with these indicators:
Entry Rules
Wait for a candlestick pattern signal to appear at or near a pivot point level
Confirm the pattern aligns with the overall trend (using our SMA 50 filter)
Enter at the close of the pattern candle
Stop Loss Placement
You have two options:
Conservative: Place stop loss just below the pattern low (for longs) or above the pattern high (for shorts)
Aggressive: Use the support/resistance zone as your stop level
Profit Targets
I typically aim for a 2:1 risk-reward ratio, but consider these factors:
Set targets just below the next resistance level (for longs)
Place targets above the next support level (for shorts)
This approach respects market structure and can increase win rate
Real Example
Looking at a recent bullish engulfing pattern on the chart:
Pattern appeared at a key support level (previous pivot point)
Entry at candle close: $XX.XX
Stop loss below pattern low: $XX.XX
Target at 2:1 ratio, below next resistance: $XX.XX
This trade would have achieved full target as the market respected both the pattern and structural levels.
Advanced Tips for Maximum Profitability
Advanced Tips for Maximum Profitability
⏰ Optimal Timeframes
Daily
Best patterns, most reliable
4-Hour
Good for shorter trades
1-Hour & Below
More noise, tight stops needed
🌍 Market Selection
Stocks
Perfect for swing trading
Forex
Great on major pairs
Crypto
24/7 opportunities
🎯 Pattern Confluence Checklist
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Timeframe Considerations
While this system works on all timeframes, I've found:
Daily timeframe: Best for swing trading, most reliable patterns
4-hour: Good for shorter-term trades, slightly more noise
1-hour and below: Requires tighter risk management, more false signals
Some patterns only appear on daily charts, making this the optimal timeframe for pattern traders.
Market Selection
This approach can work across all markets:
Stocks: Excellent for swing trading individual equities
Forex: Particularly effective on major pairs
Crypto: Works well but requires adaptation to 24/7 markets
Pattern Confluence
The strongest signals occur when multiple factors align:
Pattern at support/resistance
Trend alignment (SMA filter)
Volume confirmation
Multiple timeframe agreement
Common Mistakes to Avoid
Using too many patterns: Stick to the core 5-6 patterns for consistency
Ignoring market structure: Never trade patterns in isolation
Poor risk management: Always use stops and maintain proper position sizing
Fighting the trend: The SMA 50 filter helps avoid this, but always confirm trend direction
Overtrading: Not every pattern is worth trading - be selective
What Results Can You Expect?
When properly implemented, this combined approach can:
Increase win rate by filtering trades through market structure
Improve risk-reward ratios by identifying optimal entry points
Reduce emotional trading through systematic pattern recognition
Save time with automated pattern identification
Tradingview All Candlestick Patterns Indicator FAQ
FAQ
Is the TradingView candlestick pattern indicator free to use?
Yes, the indicator is available on TradingView's free plan, though you may need the Essential plan for full functionality. If you're having trouble accessing it, TradingView offers a 30-day free trial of their Premium features which includes all indicators and additional benefits.
Which timeframe works best for candlestick pattern trading?
While the indicator works on all timeframes, the daily timeframe typically provides the most reliable signals. Some patterns only appear on daily charts, and the signal-to-noise ratio is generally better compared to shorter timeframes like the 1-hour or 5-minute charts.
Can I use this indicator for cryptocurrency trading?
Absolutely! The candlestick pattern indicator works across all markets including crypto, stocks, and forex. The patterns are universal and based on price action psychology, making them effective regardless of the market you're trading.
What's the typical win rate using this strategy?
Results vary significantly based on market conditions, trader experience, and implementation quality. The key to improving your success rate is being selective - only trading patterns that appear at significant support or resistance levels with proper risk management. Focus on quality over quantity.
How many patterns should I enable for best results?
Focus on 5-6 core patterns for consistency: engulfing, hammer, shooting star, hanging man, and inverted hammer. Using too many patterns can lead to analysis paralysis and conflicting signals. Quality over quantity is the key to success with this approach.
Why do I need to combine it with pivot points?
Candlestick patterns alone can produce many false signals. When you combine them with pivot point support and resistance levels, you're confirming that the pattern is occurring at a historically significant price level, dramatically increasing the probability of a successful trade.
Quiz: Test Your Tradingview All Candlestick Patterns Indicator Knowledge
Test Your Knowledge
Conclusion
The TradingView candlestick pattern indicator, when configured with the right settings and combined with market structure analysis, can become a powerful tool in your trading arsenal. By focusing on high-probability patterns at key levels and maintaining proper risk management, you can potentially improve your trading results significantly.
Remember these key takeaways:
Use SMA 50 filtering to reduce false signals
Focus on the core 5-6 most effective patterns
Always combine patterns with market structure
Maintain strict risk management with 2:1 reward ratios
Be patient and selective with your trades
For those wanting to dive deeper into candlestick patterns, I recommend checking out the free 2-hour comprehensive course available on YouTube. This will help you understand the psychology behind each pattern and how to trade them in various market conditions.
Start with these settings on a demo account, practice identifying high-quality setups, and gradually build confidence before trading with real capital. The combination of automated pattern recognition and structural analysis can help transform your approach to technical trading.
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Trading involves substantial risk of loss. Always conduct your own research and consider your financial situation before making any investment decisions.
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