Candlestick

angel343a · **Candlestick -** 02-13-2008

Is anyone familiar with the candlestick patterns and their implementation doji star? I read a book on techical analysis a month ago and started using them in trading...they seem to work pretty well but don't really have much experience with them. Any trading trader? Proffesional equity trader?

Traderboy · **candlestick patern -** 02-13-2008

They work there are lot of indicator on market throws them off, in a general sense. they are useless..some are payless. Candlestick work on all market bull and bear . Dogi candlestick looks like a cross, inverted cross, or plus sign. Alone, doji are neutral patterns

Traderboy · **Candlestick direction -** 02-13-2008

Dogi I call this Dogi is a candlesticks that provide information on their own and also feature in a number of important patterns. Dojis form when a security's open and close are virtually equal with mean.. if there is no dogi candle before one that is currently creating it normal pattern continue current trend . if there was dogi day before it mean that will we see next some direction on market depend on economy and other situation such as unexpected cut in intrest rate.. that could happen in this economy.. we are going toward recession ..

hope this help!

angel343a · 02-13-2008

What is your favorite (and most profitable) candlestick pattern?
I love head&shoulders, for example. win 3 out of 5 times on it. Did anyone know good techical code to put on Metastock Software?

Traderboy · 09:56 PM

its hard to determine because we are in volality market but if you have techical analysis software let me know with one you use I will send you code for testing purpose

angel343a · 02-13-2008

I use Omega and Metastock

Stockpicker · 02-13-2008

hey folks! you can try MACD ( moving average converage diverange for your solution) it good indicator and working as " verifcation" dont use only this one

Angel you can simple copy and paste in Metastock ( expert advisor)

Current Statistics

Close: WriteVal(Close,8.3)
Change: Writeif(roc(c,1,$)>0,"WriteVal(roc(c,1,$),8.3)" , "writeif(roc(c,1,$) < 0,"WriteVal(roc(c,1,$),8.3)" ,"WriteVal(roc(c,1,$),8.3)" )")
MACD Value: WriteVal(MACD(),8.3)
Signal Line: WriteVal(Mov(macd(),9,e),8.3)

The MACD can provide buy/sell indications in three ways, signal line crossovers, overbought/oversold conditions, and divergences

Hope it help!

moneyfool · 02-13-2008

I thought that the doji was just a signal for reversal. Am I wrong?

Stockpicker · 02-13-2008

Moneyfool,
I don't know if the Doji is a pattern by itself but it can be a part of several different patterns.

The Doji actually signals indecision - not a reversal.

Dark Cloud Cover is a good reversal pattern that I have had success with over the years.

fastboy · **candlestick -** 03-22-2008

What is all this fuss about candlesticks. They do as much good as yahoo finance