How to Make Custom Candlestick Patterns!
The ThinkOrSwim platform from TD Ameritrade has a rather ingenious function that allows you to drag and drop your own custom candlestick pattern together and use it in your trading, getting automatic signals whenever the pattern happens.
Not only can you have the platform automatically alert you to any of the common candlestick patterns, such as Doji, Marubozu, Evening Star, Morning Star, etc., you can also create your own custom candle stick patterns, or even groups of patterns, and have those trigger a signal on your chart to tell you to enter a trade.
I was really surprised when I learned about this feature in the platform. Hats off to the guys over at Think-Or-Swim for adding that feature to the platform for us.
In this video I show you how to create a variation on a micro double bottom candlestick formation, similar to something Al Brooks might talk about. Brooks believes all reversals are double bottoms in some way, even if they don’t look like it. And this candle stick pattern finds micro double bottoms imbedded in the price action that, on a lower timeframe, would look like actual double bottoms.
Hopefully you guys find this feature to be as cool as I do. If this helps, please like & subscribe! And feel free to check out our other videos and our site over at: