Top 3 Candlestick Pattern Analysis & Recognition Software

Trading Candlestick Patterns Is Hard. We Test 3 Programs Doing a Better Job of Recognizing & Analyzing Candlestick Patterns Than Any Humans

Before you jump headlong three months of studying and analyzing Japanese Candlesticks manually, I would highly recommend you use the power of modern stock charting algorithm software to do the job for you.

Three of our review winning stock market chart analysis software vendors have functionality that can do a better job of identifying and analyzing candlesticks that humans can.  Give them a try.

What is Automatic Pattern Recognition Software?

Japanese Candlestick charting theory attempts to predict the future price moves of assets by interpreting the supply and demand in the market. There are hundreds of candlestick patterns that are difficult to learn. Pattern recognition software performs this task better than humans can and is available to retail investors.

Candlestick Pattern Recognition & Analysis Software
Candlestick Pattern Recognition & Analysis Software

Candlestick Software Review Summary

Each software has unique benefits. TradingView has the best free Candlestick charting & recognition for global Stock/Forex markets. TrendSpider offers robust backtesting, Candlestick analysis & interpretation on multiple timeframes. Finally, MetaStock offers a powerful Candlestick trading system for professional traders with buy signals and win probabilities.

Candlestick SoftwareTrendSpiderTradingViewMetaStock
Platform Price per Month$33$0$69
Rating★★★★★★★★★★★★★★★
Candlestick Patterns Recognized1233952
Candlestick PricingIncludedIncluded$349 add-on
Full ReviewRead the ReviewRead the ReviewRead the Review
Get the SoftwareVisit TrendSpiderVisit TradingViewVisit MetaStock

 

3 Best Candlestick Pattern Recognition Software

TrendSpider: Best Automatic Candlestick Recognition on Multiple Timeframes

TrendSpider Automated Chart Analysis

Recommended for all traders wanting cutting edge AI software, automated trendline & Candlestick pattern recognition, + system backtesting all at a great price.

Price — Software $33 per month (real-time)Pro’sCons
Rating ★★★★★★ Automated Candlestick Recognition & Analysis✘ No Social Community
★ 123 Different Candlestick Patterns Recognized
 ★ Automatic Multi-Timeframe Analysis
 ★ Automated Trendline Detection
★ Simple & Powerful Backtesting
Free 7 Day Trial★ Real-time Exchange Data Included in Price
★ Automatic Fibonacci Trend Detection
★ Stocks, ETFs, Forex, Crypto, Indices & Futures
Liberated Stock Trader Review Winner
TrendSpider – Winner for Innovation, Automation & Use of AI

 

The TrendSpider team is innovating at breakneck speed, and the features they are innovating are unique to the industry with trendline automation, pattern recognition, and multi-timeframe analysis.

Pricing and Software.

TrendSpider has an excellent price point starting at $33 per month, which includes real-time data.  They have also expanded to cover Forex, Crypto, ETFs, and Futures, which means you can apply the stunning Auto Trend-lines and Multi Time-Frame Analysis on many different markets.  The platform is built on HTML 5 and needs Zero installation and Zero data feed configuration.  The system runs on all platforms, from smartphones to PCs.  Finally, I have tested the customer support and confirm it is excellent, and you have a human to chat with whenever you like.

Japanese Candlestick Pattern Recognition

As I mentioned previously, Trendspider is designed to do the hard work for you; if you want to use candlesticks correctly, you need to know a few things.

  1. Learn hundreds of single and multiple candlestick formations.
  2. Understand if they are bullish or bearish.
  3. Learn for how many bars they are valid.

Learning this can take years, or you can simply use Automatic Candlestick Analysis & Recognition.

How to Enable Candlestick Pattern Recognition in TrendSpider

The Most Intelligent Candlestick Pattern Recognition On Multiple Timeframes With TrendSpider
The Most Intelligent Candlestick Pattern Recognition On Multiple Timeframes With TrendSpider

6 Steps to Enable Candlestick Pattern Analysis in TrendSpider

  1. Click MFTA (Multi-Timeframe Analysis
  2. Click Patterns
  3. Select from over 100 Candlestick Patterns
  4. Search for Hammer, select Hammer and Inverted Hammer
  5. Search for Doji and select Doji, Doji Star, and Evening Doji Star
  6. Click Apply

These are enough to start with and are very powerful Candlestick reversal signs.  On the chart, you can see the annotated Candlestick Pattern DJ for Doji, etc.

You can see the patterns recognized on a weekly chart versus the daily Candlestick patterns in the image above. Of course, TrendSpider allows you to change the timeframes to 1 minute versus 1 hour or any other combination if you prefer to trade in short timeframes.

Now you do not need to spend months learning every pattern, nor do you need to spend hours on a chart trying to locate the patterns; it is all seamlessly done for you.

Technical Analysis With TrendSpider.

Packed full of innovative technical analysis tools means that TrendSpider is catapulted to the top of this list.  If you are a serious market analyst, then TrendSpider will help you do the job quicker, with better quality, and help you to not miss an opportunity.  Automated trendline detection and plotting; this does a better job than a human can; using algorithms, the system can detect thousands of trends-lines and flag the most important ones with the highest backtested probability of success.

TrendSpider - Most Innovative Newcomer
TrendSpider – Automating Stock Chart Analysis

The multi time-frame analysis means being able to view multiple time-frame charts on a single chart with the trendlines plotted automatically.  Another great feature is the advanced plotting of support and resistance lines into a subtlely integrated chart heatmap.

Finally, Raindrop Charts, a wholly unique and intuitive way to visualize volume profile or volume at price action.

Stock Systems and Backtesting.

Integrated backtesting of automated trendlines, showing win-rate, profitability, and drawdown are new additions and warmly welcome. The team is finally propelling TrendSpider into one of the leading technical analysis packages in the industry.

Ease Of Use.

TrendSpider’s innovations mean you will need a little time to understand what they are telling you.  For example, seeing hourly, daily, weekly trend lines plotted on the same chart might be confusing at first. Still, after applying a little effort, you might find you cannot live without them—an excellent score on usability.

TrendSpider Market Scanner

TrendSpider is developing new features at breakneck speed, but this one is big. The latest innovation from the TrendSpider team is the “Market Scanner.”  This enables you not only to scan a specific stock but the entire market for shares matching your technical criteria.  This is a significant step forward, combining AI trend detection and analysis with the ability to scan the whole stock market.

Try TrendSpider with a Free 7 Day Trial *Read the Full TrendSpider Review

*If you register for TrendSpider, contact me and let me know your username & I will send you the Liberated Stock Trader Crash Detector Training Course & Book worth $49 for free.

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TradingView: Best Free Candlestick Pattern Analysis Software

TradingView

Recommended for traders who value a great price, insanely good Fundamental & Technical Analysis with the world’s best trading community.

Price: Free & PremiumPro’sCons
Rating ★★★★★★ The Best Trading Community✘ No Real-time News
★ 39 Candlestick Patterns Recognized
★ Easy to use, perfect for beginners
Launch TradingView Now★ Excellent Charting & Analysis Tools
★ Candlestick Analysis on Cryptocurrency & Forex, USA & Globally
★ Good Stock Screening
Liberated Stock Trader Review Winner
TradingView – Winner Best Overall Trading Platform

 

There is no doubt about it, TradingView has stormed into the review winners section and is holding its place as number 1 overall. I love TradingView and use it every single day.  I post charts, ideas, and analysis regularly and chat with other traders.

Pricing & Software.

You can have TradingView for free, and it is a review winner for our Best Free Charting Software Review.  However, there are limitations.  I would recommend going for the PRO+ at $19 per month or the Premium at $39 per month; the benefits are extensive, including priority customer support and unlimited everything.

Also, a huge benefit is that the data speed and coverage are mind-blowing, covering literally every stock market on the planet and not just stocks but ETF’s, mutual funds, futures, forex, bonds & cryptocurrencies AT NO EXTRA COST.

Candlestick Pattern Recognition With TradingView.

TradingView have in 2020 introduced Candlestick Pattern Recognition as a core component of the platform, which means you do not have to pay anything extra for a plugin; it is simply there. Because TradingView has a Free tier of service, it means you get Candlestick Analysis completely Free.

In the image below, you can see that pattern recognition is intelligently implemented. The Bearish Engulfing (BE) patterns are highlighted in Red with an arrow pointing downward, suggesting that this candle is actually a bearish sign.  You can also observe that the Doji (D) patterns are grey and pointing upwards, indicating a possible change of price direction.

Finally, I really like the fact you can, however, your mouse over the pattern, and you get a full and detailed explanation of the pattern and what it means.

Candlestick Pattern Recognition & Analysis Intelligence Built In To TradingView
Candlestick Pattern Recognition & Analysis Intelligence Built In To TradingView

How to Enable Candlestick Recognition in TradingView.

  1. Click on the Fx (Function Symbol) at the top of the page.
  2. Select Candlestick Patterns
  3. Select All Patterns, or the specific patterns you want to see

TradingView Software Download for PC. TradingView is an HTML 5 application that runs in the cloud.  This means you do not need to download any software for the PC or Mac. When you launch TradingView, the HTML 5 code downloads to your PC browser automatically, and it simply works. You can quickly start TradingView in a browser by clicking this link. Launch TradingView Charts.

Fundamental Scanning & Screening. TradingView hit the mark on real-time scanning and filtering, and fundamental watchlists also.  The list of fundamentals you can scan & filter on is genuinely huge.  Any idea you have based on fundamentals will be covered.  They even have insane amounts of economic data like Federal Funds Rates and World Economic Growth, thanks to a connection to the QUANDL database.

News & Social Community.

As soon as you connect to TradingView, you realize this is also developed for the community.  You can look at community ideas, post your charts and ideas, and join limitless numbers of groups covering everything from Bonds to Cryptocurrencies.

The news feeds are fully integrated, including Kiplinger, DailyFX, Futures Magazine, FXStreet, and StockTwits.  Add that to the social network, and you have a great solution.  The news service is only second to MetaStock with their Reuters Feeds.

Technical Analysis.

With over 160 different indicators, and unique specialty charts such as LineBreak Charts, Kagi Charts, Heikin Ashi Charts, Point & Figure Charts, and Renko Charts, you have everything you will need as an advanced trader.  With the Premium membership, you also get Level II insight, fully integrated.

TradingView - Insanely Beautiful Chart, with a massive selection of indicators. This Chart Feature Moonphase and Darvas Boxes
TradingView: Insanely Beautiful Charts, with a massive selection of indicators. This Chart Features Moon phase and Darvas Boxes.

Did I mention the charts are fast and beautiful?

Systems, BackTesting & Automated Trading.

TradingView has an active community of people developing and selling stock analysis systems, and you can create and sell your own with the Premium-level service.  Also, there are a vast number of indicators and systems from the community for free.

The only thing you cannot do is forecast and implement Robotic Trading Automation.  For forecasting, you are better off with MetaStock,

Usability.

Within 5 minutes, I used TradingView, no credit card, no installation, and no configuring data feeds; it was literally just there. TradingView works with a single click.

Try TradingView For Free Now + Bonuses*Read the Full TradingView Review

*If you register for TradingView, let me know by connecting to the user: “liberatedstocktrader” on TradingView & I will send you the Liberated Stock Trader Crash Detector Training Course & Book worth $49 for free.

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MetaStock: Best Software For Trading Candlestick Patterns & Forecasting

MetaStock Review Winner

Recommended for traders who want a robust Candlestick Trading System, with specific Buy and Sell Signals and built-in probability outcome of specific candlestick trading setups.

Price — Software $99 per monthPro’sCons
Rating ★★★★★★ 56 Candlestick Trading Setups Recognized✘ PC Only
Special Deal — 3 Months for the price of 1★ Specific Buy & Sell Signals & Win Probabilities✘ No Mobile App
★ The Best Charts & Indicators Selection✘ Candlestick System Costs an Extra $349 (one-off payment)
Visit MetaStock★ The Best System Backtesting & Forecasting
★ Real-time News from Reuters (with Refinitiv Xenith)
★ Global Real-time Exchange Data
Liberated Stock Trader Review Winner
MetaStock – Winner Best Backtesting, System Trading & Analysis Platform

 

Pricing and Software.

MetaStock is one of the biggest fish in the sea of stock market analysis software.  Backed up by the mighty Thomson Reuters, you can expect excellent fast global data coverage and broad market coverage, including equities, futures, forex, ETF’s and options.

Candlestick Trading System in MetaStock

Metastock is different from other vendors because their software runs locally on your PC, and you can actually buy one-off licenses and avoid monthly payments. They also operate a marketplace were professional traders sell their stock trading systems and signals as add-ons to MetaStock.

MetaStock does not provide Candlestick recognition natively, so you will need to buy the add-on called “Greg Morris’ Japanese Candle Recognition” for a one-off payment of $349.

Greg Morris is seen as one of the global authorities on Japanese Candlestick trading and is a published author on the topic.

The Accuracy of Candlestick Patterns

What you do get with this add-on is a very sophisticated trading system, with full candlestick backtesting, analysis, and signals.

The add-in forecasts the direction of the next move in stock price and also the probability of the Candlestick signal being successful.

The probability rating of the Candlestick recognition success is absolutely critical, and no other software offers this level of professional trading system.

In the image below, you can see that this signal (highlighted in yellow) predicts a 77% chance of success.

Candlestick Pattern Recognition & Analysis Add-On With MetaStock

Candlestick Pattern Recognition & Analysis Add-On With MetaStock

You get forecasting of the direction of the next move in stock price and also the probability of the Candlestick signal being successful

Fundamental Scanning and Screening.

Using Refinitiv Xenith, you can see a really in-depth analysis of company fundamentals from debt structure to top 10 investors, including level II.  Excellent watch lists featuring fundamentals and powerful scanning of the markets gets a perfect 10

Real-time News.

MetaStock has full Xenith integration with institutional level news, analysis, and outlook.  This is the fastest global news service available on the market, including translations into all major languages.

Technical Analysis.

Forex forecasting based on sentiment is a feature that is absolutely exceptional.  Never mind the broadest selection of technical analysis indicators on the market today. MetaStock is the king of technical analysis, warranting scores a perfect 10.MetaStock Screens

 

Stock Systems Back Testing & Forecasting.

Another area where MetaStock excels is what they call the expert advisors.  MetaStock harnesses a huge amount of inbuilt systems that will help you, as a beginner or intermediate trader, to understand and profit from technical analysis patterns and well-researched systems.  This is really a key area of advantage.  The most significant addition to the MetaStock arsenal is the forecasting functionality, which sets it apart from the crowd.

Ease of Use.

MetaStock still has the feel of a collection of separately developed applications that require user’s education to make them work together.  However, the vast selection of automated “expert advisors” you can deploy on the range of stocks in your purview makes MetaStock well worth the investment.

Get A Free Trial + Discount of Award-Winning MetaStockRead the Full In-Depth MetaStock Review

 

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Japanese Candlestick Recognition Video

Japanese Candle Pattern Recognition

Get The MetaStock Candle Recognition System Exclusively With MetaStock

Candlestick Analysis & Recognition Software Comparison

Charting Software ComparisonTrendSpiderTradingViewMetaStock
Free PlanXX
Pricing: Best Plan$97$50$99
ExchangesUSAGlobalGlobal
Broker IntegrationXX
Fundamental ScreeningX
Social Trading CommunityXX
Automated TrendlinesXX
Multi Timeframe AnalysisXX
Candlestick Pattern Recognition
Market Scanning
Backtesting
Chart Indicators60+160+300+
News FeedX
Real-Time News FeedXX
Read ReviewRead ReviewRead Review
Visit TrendSpiderVisit TradingViewVisit MetaStock

 

Automatic Candlestick Analysis Summary

Each software has unique benefits. TradingView has the best free Candlestick charting & recognition for global Stock/Forex markets. TrendSpider offers robust backtesting, Candlestick analysis & interpretation on multiple timeframes. Finally, MetaStock offers a powerful Candlestick trading system for professional traders with buy signals and win probabilities.

They are all excellent solutions, and the choice is down to you.

How to Read Japanese Candlesticks, Charting & Techniques

 

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