Candlesticks patterns %?

Discussion in 'Technical Analysis' started by Daal, Oct 17, 2002.

  1. Daal


    Does somebody know a website with this kind of info?
    The most common patterns and their % of prediction?

  2. MarkHyman

    MarkHyman Advanced Futures

  3. has some interesting candel statistics. i use this site regularly.

    hope this helps,

  4. xianokie


    Wait a few months and Martha Stewart may have her new book on candlesticks coming out.
  5. (prison) bars...
  6. stravens


    Do not know if this is exactly the info you want but in this months Stocks & Commodities Mag. ( Nov.) they analyzes 575 American stocks/bonds over a 15-20 years from 1980 to present to see how reliable candlesticks are.
  7. nkhoi


  8. Hi Daal,

    Are you looking for intraday candlesticks or daily candlesticks % prediction?

    I know some traders (not a website) that have intraday info on % of prediction via their relationship (filters) to Stochastic, MACD and eMAs (price exponential moving averages).

    They tested 3 years of Emini data via 1min, 3min, 15min and 45min charts...all session globex charts.

    A year ago I had the opportunity to review their data and found nothing new to what I already knew about intraday candlesticks.

    Simply...already discussed here before at Elite Trader...there are some highly repetitive candlestick patterns on intraday charts that aren't too difficult to exploit when applied with indicators like Stochastic, MACD or Price Moving Averages (I prefer exponential MAs) along with Bollinger Bands.

    If you have something like TradeStation and historical intraday can easily come up with your own % statistics via whatever filters you like or no filters at all.

    However, I highly recommend you not put too much weight in any % stats via candlesticks alone.

    More importantly, I highly recommend you not trade with real money via candlesticks alone.

  9. In the book Candlesticks Explained, by Gregory L. Morris, he present results of analysis that shows percentage of reliability for various patterns.
  10. travis


    #10     Oct 28, 2002