Candlestick patterns
A candlestick pattern is several candles in a row of a certain shape: for example, a big candle that completely covers the body of the previous one. The bot looks for ready-made patterns on all assets and can find your own. This article explains how to read the "Patterns" tab, how to choose which patterns to track and how to build your own pattern in the "My patterns" window.
Where patterns are seen
- The "Patterns" tab in the "Bot" panel on the right — a list of patterns formed on the last candle.
- Frames on the chart — a found pattern is outlined right on the candles. What to outline is set in "Settings" → "General" → "Mark candlestick patterns on the chart".
- The strategy builder — every pattern is an event there. It can be used as an entry or as a confirmation.
The "Patterns" tab
At the top there is a summary: how many patterns formed on the last candle, on which timeframe and on how many assets. The bar under the summary splits them into "up", "no side" and "down". Next to it is a countdown to the new candle: on it the list is collected again.
Below are the patterns as lines:
- arrow — the pattern's side: up or down;
- asset and pattern name;
- importance — ten bars. The more of them, the more significant the pattern in the catalogue. Your own patterns show "my pattern" instead of importance;
- ask-the-model button — ask the language model about this asset. It does not open a trade;
- ⓘ — the pattern's description: what it is made of and what must come before it.
Press a line — the bot opens this asset on the chart and outlines the pattern with a frame.
Patterns are looked for on the bot's timeframe and only on assets whose payout is not below the "Minimum payout, %" threshold. If the list is empty, no patterns were found on the last candle.
Which patterns to track
The tab's gear opens the "Patterns: what to track" window:
- "Tracked patterns" — a list of ready-made patterns with checkboxes. Untick one, and the pattern disappears from the tab and from the frames on the chart;
- "My patterns" — your patterns and the "Open "My patterns"…" link.
The bot passes the same set to the language model as a list of patterns, if you use it.
The "My patterns" window
Your own pattern is several candles with conditions on colour, body, wicks and size. A finished pattern appears in the strategy builder as the event "My pattern: …" and works both as an entry and as a confirmation.
The window opens from the "Patterns: what to track" window and from the "Strategy rules" window (the "My patterns — your own candlestick patterns for rules" link). It has no item of its own in the top bar.
On a pattern tile:
- the "on" checkbox — whether to look for the pattern;
- "Edit", "Copy", "Delete".
How to build a pattern
- Press "Create a pattern".
- Type a name.
- Choose the direction: "up (call)", "down (put)" or "no direction — confirmation only".
- Choose the candle type: "Japanese" or "Heikin Ashi".
- Set "Candles in the pattern". On the left is the earliest candle, on the right — the one on which the pattern forms.
- Set the conditions for each candle. What does not matter, leave as "any".
- Press "Save".
Candle conditions
| Condition | Options |
|---|---|
| Colour | any, rising, falling, doji (no colour) |
| Body | any, almost no body, small, normal, full |
| Upper wick, Lower wick | any, none, short, long |
| Candle size | any, narrow, normal, wide — compared with the average candle |
| Close | does not matter, above the previous one, below the previous one |
| Body vs prev. | does not matter, larger than the previous one, smaller than the previous one |
| Body overlap | does not matter, engulfs entirely, overlaps half, does not overlap |
The first candle has no comparisons with the previous one — there is nothing to compare with.
What counts as a "small" body or a "long" wick is set by shared thresholds — the "Body and wick thresholds…" button. They are shared by all your patterns. How the bot measures a candle is described in the article about "7trade Candle Geometry".
On Heikin Ashi candles the bodies of neighbouring candles almost always overlap. That is why "engulfs entirely" almost never occurs there, and "does not overlap" never occurs.
A pattern in a strategy
A strategy keeps a copy of the pattern. If you edit the pattern, a running strategy keeps trading by the old copy. The "Strategy rules" window shows a warning and the "Update the patterns in the strategy" button — press it and save the strategy to take the new version.
A deleted pattern keeps working in strategies by its copy, but you cannot choose it again. Before deleting, the bot lists the strategies where the pattern is used.
What patterns do not do
- They do not predict the price. A pattern describes the shape of candles that have already closed.
- They are not looked for on an unclosed candle. The tab and the frames work only on closed candles. The forming candle is shown by the "Neighbor TF" widget.
- They do not open trades by themselves. A trade is opened by a strategy if the pattern is part of its rule.
Frequently asked questions
The tab is empty. No tracked pattern formed on the last candle, or no asset passed the payout threshold. Wait for a new candle or check "Minimum payout, %".
My pattern is not in the strategy's list of events. Check the "on" checkbox on its tile. If the rules window was open, the pattern appears right after the "My patterns" window is closed.
I pressed a line, but there is no frame. The frame is put on the bot's chart. Check "The bot works with chart" in the "General" settings.
What's next
- Strategies — the builder — how to use a pattern as an entry or confirmation.
- 7trade Candle Geometry — how the bot measures the body, wicks and size of a candle.
- The "Bot" panel — the other tabs on the right.