Free candlestick patterns indicator for NinjaTrader 8: engulfing, pin bar, inside bar
It marks the most common candlestick patterns on the chart, all at once and each one on or off: engulfing, inside bar, outside bar, pin bar, doji, hammer / shooting star, reversal bar and NR7.
Minimum sizes are a fraction of ATR, so they adapt to the instrument and the timeframe, and the size filter is on by default so quiet hours don't fill the chart with marks. A table shows how many times each pattern appeared in the loaded history and what price did a few bars later.
- 100% free
- Open source (MIT)
- Built by El Trader Financiado for the community
Version 1.0 beta · NinjaTrader 8 · .zip to import · also in the pack of all 11 · updated October 11, 2026
Install one language only: if you switch between English and Spanish, delete the ElTraderFinanciado folder first (Documents\NinjaTrader 8\bin\Custom\Indicators).
What the indicator draws
- By default: bullish and bearish engulfing (ENG↑ / ENG↓), inside bar (IB), outside bar (OB↑ / OB↓), pin bar (PIN↑ / PIN↓) and doji, on the closed bar (no repainting).
- Optional: hammer and shooting star (a pin bar after a prior move against it), reversal bar (key reversal) and NR7 (the narrowest bar of the last 7).
- Noise filters: minimum bar size (0.5 ATR, on), EMA trend filter and minimum volume (optional).
- Statistics table: how many times each pattern appeared, % of times the close 5 bars later was in its favor and the average move in ticks.
- One plot per pattern for strategies and the Strategy Builder (+1 bullish, -1 bearish, 1 neutral, 0 none), colored bars and alerts on bar close (optional).
What each pattern marks
A bullish engulfing is a bullish bar whose body engulfs the previous bearish body. An inside bar stays within the previous bar's high and low (the mother bar) and an outside bar exceeds both. A pin bar has a wick of at least two thirds of its range, a small body at the other end and a wick that sticks out beyond the previous bars. A doji has a body under 10% of its range.
How to trade candlestick patterns
A summary of the most common uses. Everything is set in the indicator properties.
Confirmation at a level
A pattern on its own is worth little; at a level you already watch (PDH/PDL, VWAP, a zone) it works as confirmation: for example, a bullish pin bar that sweeps yesterday's low and closes back inside.
Inside bar breakout
An inside bar is a pause: many traders enter on the break of the mother bar's high or low, with the stop on the other side.
NR7 before expansion
The narrowest bar of the last 7 is often followed by more range. Use it to prepare a breakout entry, not to pick a direction.
With the trend only
With the trend filter on, it only marks bullish patterns with the close above the 50 EMA and bearish ones below it.
What the evidence says
A candlestick pattern on its own is not a signal with a proven edge: use it as confirmation at a level, not as a system. The statistics table is descriptive (loaded history, close to close, no costs or trade management): it is not a backtest. It's a beta: the max number of inside bars with the same mother (3) still needs calibrating with more data.
Key settings
| Setting | Default | What it does |
|---|---|---|
| Patterns on | ENG, IB, OB, PIN, DOJI | Hammer / star, reversal bar and NR are off. |
| Minimum size filter | On (0.5 × ATR 14) | Discards the small bars of quiet hours. |
| Trend filter (EMA) / Volume filter | Off / Off | 50 EMA; average volume of 20 bars. |
| Engulfing: mode | Bodies | Range (with wicks) or BodiesAndRange. Ties allowed: in futures the open usually equals the previous close. |
| Inside bar: max bars with the same mother | 3 | Several inside bars in a row are measured against the same mother bar. |
| Pin bar: wick / body / nose | 66% / 33% / 15% | Of the bar's range; it must also stick out beyond the previous 2 bars. |
| Show statistics table | On (5 bars later) | In the top-left corner. |
| Alerts | Off | One alert per bar, on close. |
How to install ETFPatronesVelas in NinjaTrader 8
- 1
Download the .zip and don't unzip it.
- 2
In NinjaTrader 8, from the Control Center: Tools → Import → NinjaScript Add-On… and pick the .zip.
- 3
Accept and wait for it to compile. If you had an earlier version, allow it to overwrite.
- 4
Indicators: on the chart, right-click → Indicators… → ElTraderFinanciado folder. Risk-Reward: right-click → Drawing Tools. Risk Guardian: Control Center → New.
Frequently asked questions
Does it repaint?
No. Every pattern is decided on the closed bar and doesn't change afterwards.
Why do I see fewer patterns than with other indicators?
Because of the minimum size filter: it discards bars under half an ATR, which are most of them in quiet hours. Turn it off if you want to see them all.
What does the statistics table show?
For each active pattern: how many times it appeared in the loaded history (N), the % of times the close 5 bars later was in its favor and the average move in ticks. It changes with the instrument, the timeframe and the days loaded.
Can I use it in a strategy?
Yes. There's a combined plot (Pattern) and one per pattern: +1 bullish, -1 bearish, 1 for neutral ones (inside, doji, NR) and 0 when there's no pattern.
Trying it in a futures prop firm?
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The indicators describe what price has done; they don't predict what it will do and they are not investment advice. The risk management tools are an aid: they don't replace your firm's rules or your broker's limits. Only trade futures with money you can afford to lose.
