Order Flow Reversal Candles

From: $9.99 / month

Order Flow-enhanced candlestick reversal patterns


Product Description

While price alone is a lagging indicator, the use of various candlestick chart patterns is a very popular way to identify potential reversals. Order Flow Reversal Candles apply analysis of traded volume to the Hammer, Shooting Star, Gravestone and Dragonfly candlestick patterns to determine whether order flow traded volume supports the price action displayed within the candlestick.

Order Flow Reversal Candles may be licensed for Sierra Chart on a Lifetime, 1-month or 3-month basis, or as part of the complete Emoji Trading Order Flow Suite. Licences include all indicator updates and enhancements during the license period.

Input Name Description
Imbalance % The percentage level used for diagonal bid/ask volume imbalance calculations.
Bid/Ask Minimum Volume Compare Threshold This value sets the minimum value required for Bid/Ask Volume comparisons. If the Bid and Ask Volumes that are being compared are both less than the threshold, then the compare is not performed.
Enable Zero Diagonal Comparison? This input determines whether price levels where zero volume traded at the bid or ask (including the highest and lowest prices in within the bar) are evaluated for imbalance calculations.
Display Offset (Ticks) Specifies the indicator’s display position above/below the current bar.

ID Subgraph Description
SG1 Candle Reversal Indicator The indicator drawn above/below a potential reversal candle.
SG2 Candle Reversal Condition Evaluates to -1, when a potential sell reversal occurs, 1 when a potential buy reversal occurs, 0 otherwise.