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Nison Candle Highlighter NCH is a unique indicator for MetaTrader 4 which can be used to help identify potential reversal points. The indicator was developed by the president of Nison Candle, Don Nison (hence the name). The idea for this indicator came after an intensive study of candlestick patterns that preceded reversal points in the forex market. This introductory blog post will go over how you can use this indicator to find reversal points, including some strategies and trading ideas. It will also include screenshots and videos to show you what the indicator looks like in action! Reading this post is a great way to get started using Nison Candle Highlighter in your trading strategy. Metatrader 4 Nison Candle Highlighter is a part of the Nison Candle indicator, which can be used without it. It is a highly customizable indicator with an unlimited number of settings. One of the features of this indicator is that it allows you to create your own strategies with whatever parameters you want. You can also write your own scripts and apply them to any MetaTrader 4 chart! If you are interested in learning how to make or trade a strategy using this indicator, please check out my most recently published article: http://www.tradingdaddy. com/the-guide-to-nison-candle/ As you can see, the indicator is available in 3 languages: English (USD), Chinese (CNY) and Japanese (JPY). You don't need to download the whole set of candle patterns for this indicator; it comes with its own database. Once you download it, you will need to activate it prior to use. Just click on the "Set" button, then click on the indicator tab. You can then choose which set of candle patterns you want to activate. The Nison Candle Highlighter indicator displays a line graph that overlays your active candle pattern(s) onto your price chart. The lines are colored according to the most recent resistance or support trend. For example, if you use the Japanese version of the Nison Candle Highlighter indicator, you will see a blue line on your chart that stops just above or below the price's highest candle closed during the last hour. The red line indicates where your current candle closes relative to this trend. As you can see, there is a sharp pattern where both lines will cross each other at point A. This is where you can identify a reversal candlestick pattern in action! To create any kind of trading strategy around this indicator, simply activate 1 (or 2) sets of patterns and start anticipating when this break will occur. My first strategy below uses this indicator to identify candlestick reversal points on the daily time frame. I created a very easy-to-follow strategy that includes my preferred trading rules, lending conditions and exit signals. This strategy only has 2 exit rules, which are based on your time of entry. This is my preferred method for identifying support or resistance reversal points. The chart above shows the results of applying this strategy with a 50 pip stop loss for each candle break. If you are not familiar with my personal trading rules, please check out my article http://www.tradingdaddy.com/my-trading-rules/ . cfa1e77820
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