# Candlestick Pattern Win Rate Analysis

> Not all candlestick patterns are created equal. Learn how to use a journal to calculate the win rate of your favorite patterns.

**Tags:** candlesticks, price-action, win-rate, statistics
**URL:** https://traderjournal.app/price-action/candlestick-pattern-win-rate-analysis

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# Candlestick Pattern Win Rate Analysis

Candlestick patterns like pin bars, engulfing candles, inside bars, and morning stars are widely used as entry triggers. However, many traders use them blindly without knowing their statistical win rate.

Running a win rate analysis on your candlestick patterns is a critical step to achieving consistency.

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## Setting Up Your Pattern Tracking

Use clear tags in your journal for each pattern you trade:
- Tag "pin-bar" for pin bar rejections
- Tag "engulfing" for bullish or bearish engulfing patterns
- Tag "inside-bar" for breakout setups

Ensure you only log patterns that are part of your pre-defined trading plan.

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## Calculating the True Win Rate

After 100 trades, filter your journal by each tag. Compare the stats:
- What is the win rate of pin bars on the daily chart vs. the 15-minute chart?
- What is the average profit factor of engulfing candles?

You might discover that inside bars have a low win rate but a very high risk-to-reward ratio, while pin bars have a high win rate but smaller targets.

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## Adjusting Your Plan

This data allows you to optimize your strategy. If a pattern has a low win rate and a low profit factor in your journal, delete it from your trading plan. Focus only on your highest-performing triggers.

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Trader Journal for MT4 and MT5 provides advanced filtering tools, allowing you to run detailed reports on your candlestick pattern tags.

Download it today at android.traderjournal.app or ios.traderjournal.app.