Morning & Evening Star Pattern Indicator TradingView Free-[TFlab]

The Morning Star and Evening Star Indicator identifies significant reversal patterns within technical analysis, based on candlestick formations.
This TradingView classic indicator visually highlights Morning and Evening Star patterns using arrow-shaped markers, providing traders with clear signals for potential trend reversals.
You can access the Indicator from this link:

https://tradingfinder.com/products/i...-evening-star/

You can access the Indicator on the TradingView website:
https://www.tradingview.com/script/v...es-Gap-Candle/





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Morning & Evening Star Reversal Pattern Indicator
Adding the Morning & Evening Star Indicator to TradingView allows traders to anticipate price reversals.

1. The Morning Star and Evening Star patterns typically appear at the end of trends, signaling a change in price direction.
2. While designed primarily for stock indices, this indicator can be applied to Forex pairs by selecting the "Forex" option in the settings.

Morning & Evening Star Indicator Features

1. Indicator Categories: Price Action, Candlestick, Chart & Classic TradingView indicators
2. Platforms: TradingView
3. Trading Skills: Elementary
4. Indicator Type: Reversal
5. Timeframe: Multi-Timeframe
6. Trading Style: Intraday
7. Trading Instruments: Stocks, Shares, Forex

Indicator Overview
The indicator identifies two primary reversal patterns:

Morning Star Pattern

1. Occurs at the end of a downtrend
2. Consists of:
   1. One large bearish candle
   2. One small-bodied candle
   3. One large bullish candle

3. Signals a potential bullish reversal, providing opportunities to enter buy (long) trades

Evening Star Pattern

1. Occurs at the end of an uptrend
2. Consists of:
   1. One large bullish candle
   2. One small-bodied candle
   3. One large bearish candle

3. Indicates a bearish reversal, alerting traders to consider sell (short) positions

Bullish Trend Condition

1. Example: Netflix (NFLX) 4-hour chart
2. The Morning Star formed at the end of a short-term downtrend
3. The indicator marks the pattern with a small arrow
4. Formation signals a potential entry for long positions

Bearish Trend Condition

1. Example: Tesla (TSLA) 4-hour chart
2. The Evening Star appeared at the end of an uptrend
3. The indicator highlights the pattern with an arrow
4. Formation signals a trend reversal from bullish to bearish

Indicator Settings
The settings panel provides multiple options for pattern detection:

1. Morning & Evening Star Filter: Customize pattern recognition
2. Market Use: Choose the market type (Stocks, Forex, etc.)

Conclusion
The Morning & Evening Star Indicator for TradingView is a powerful candlestick tool that marks Morning and Evening Star formations with arrow markers.

1. These reversal patterns generally appear at the end of trends
2. They provide clear signals for potential trend reversals in both bullish and bearish markets