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The Tweezer Indicator is an analytical tool designed based on the Tweezer Pattern. This pattern forms at the end of a trend, where two consecutive candlesticks appear at either the highest or lowest price.
This indicates the presence of a strong support or resistance level, preventing further price increase or decrease.
Tweezer Indicator Specifications
The specifications of this MetaTrader 5 trading Assist indicators are summarized in the table below:
Indicator Categories:
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Support & Resistance MT5 Indicators
Trading Assist MT5 Indicators
Candle Sticks MT5 Indicators
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Platforms:
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MetaTrader 5 Indicators
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Trading Skills:
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Intermediate
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Indicator Types:
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Reversal MT5 Indicators
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Timeframe:
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Multi-Timeframe MT5 Indicators
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Trading Style:
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Intraday MT5 Indicators
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Trading Instruments:
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Forex MT5 Indicators
Crypto MT5 Indicators
Stock MT5 Indicators
Forward MT5 Indicators
Share Stock MT5 Indicators
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Indicator Overview
The Tweezer Indicator functions as follows:
If two consecutive candlesticks appear above both Moving Averages (fast and slow), with a shadow-to-body ratio of 2 to 3 times, these areas are displayed as trend reversal points on the chart.
- Bullish reversals are displayed with a green box.
- Bearish reversals are marked with a yellow box.
Indicator in a Bullish Trend
In the GBP/USD uptrend, two bullish candlesticks with a longer lower shadow than the body and a shorter upper shadow are considered trend reversal signals.
The indicator detects these candlesticks and draws a green box, indicating a bullish trend reversal.

Indicator in a Bearish Trend
In the USD/CAD chart, after reaching a price peak, candlesticks with long shadows appear, indicating weakening buyer power.
The Tweezer Indicator detects these bearish candlesticks and marks them with a yellow box, alerting traders of a potential bearish trend reversal.

Tweezer Indicator Settings
The image below displays the settings panel for the Tweezer Indicator:

- Shadow/Body: Adjust the shadow-to-body ratio of candlesticks
- Long Shadow/Small Shadow: Set the ratio of long shadows to short shadows
- Fast MA Period: Define the Moving Average period for the fast MA
- Slow MA Period: Set the Moving Average period for the slow MA
- Bearish Hammer Color: Set the color for bearish hammer patterns
- Bullish Hammer Color: Set the color for bullish hammer patterns
Conclusion
Emphasizing the shadow-to-body ratio of candlesticks increases the accuracy of trend reversals, making the Tweezer Indicator a powerful tool for identifying reversal zones. Traders can enhance their analysis by using a buy/sell pressure indicator.
If the first candlestick has a larger body and the second candlestick has a smaller body, the trend reversal is more likely to occur.
In which markets can the Tweezer Indicator be used?
The Tweezer Indicator can be used in multiple markets, including Forex, Stocks, and Cryptocurrencies.
Does the Tweezer Indicator perform well in volatile markets?
Yes, this indicator is highly effective in volatile market conditions, where significant price reversals occur.