Candlestick

Formula to buy and sell using candlesticks data

Formula to buy and sell using candlesticks data
  1. How candlesticks are calculated?
  2. When should I buy and sell with candlestick?
  3. Which candlestick pattern is most profitable?
  4. How will you predict the next candle in trading?
  5. Is candlestick pattern reliable?
  6. Who is father of candlestick pattern?
  7. Which candlestick pattern is most reliable for intraday?
  8. Can Excel show candlesticks?
  9. Which timeframe is best for candlestick patterns?

How candlesticks are calculated?

If the upper shadow on a down candle is short, it indicates that the open that day was near the high of the day. A short upper shadow on an up day dictates that the close was near the high. The relationship between the days open, high, low, and close determines the look of the daily candlestick.

When should I buy and sell with candlestick?

A black or filled candlestick means the closing price for the period was less than the opening price; hence, it is bearish and indicates selling pressure. Meanwhile, a white or hollow candlestick means that the closing price was greater than the opening price. This is bullish and shows buying pressure.

Which candlestick pattern is most profitable?

A two candle pattern, engulfing pattern is one of the most powerful patterns in candlesticks. It occurs when the second candle (latest candle) completely overshadows the previous candle or completely engulfs the previous candle.

How will you predict the next candle in trading?

This pattern consists of a small body and a long lower wick. It usually forms at the low end of a downtrend. It indicates that while there has been selling pressure during the trading timeframe, buyers are now driving the price up. This usually signals that the next candlestick could be a green one.

Is candlestick pattern reliable?

Candlestick patterns capture the attention of market players, but many reversal and continuation signals emitted by these patterns don't work reliably in the modern electronic environment.

Who is father of candlestick pattern?

Developed in the 1700s in Japan by Munehisa Homma, known as the father of candlestick charting, Heikin-Ashi charts look similar to standard candlestick charts but are based on different values.

Which candlestick pattern is most reliable for intraday?

The shooting star candlestick is primarily regarded as one of the most reliable and one of the best candlestick patterns for intraday trading. In this type of intra-day chart, you will typically see a bearish reversal candlestick, which suggests a peak, as opposed to a hammer candle which suggests a bottom trend.

Can Excel show candlesticks?

A Candlestick chart is a built-in chart type in Excel normally used to show stock price activity. You'll find this chart under the Stock category of chart types, with the name Open-High-Low-Close, sometimes abbreviated OHLC.

Which timeframe is best for candlestick patterns?

Most candlestick patterns form over 1-3 days, which makes them short-term patterns that are valid for 1-2 weeks. Hammers and shooting stars require just one day. Engulfing patterns, piercing patterns and dark cloud cover patterns require two days.

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