a majority of traders agree has value? That is, I have seen many past threads here where trend or indicators are discussed and cussed and for every pro there is a con. As a noobe studying charts and reading a few books, is there any OHLC analysis that a large majority of traders would say they agree has merit? If so, what is it?
Could you be more specific? Im sure you mean Open, High, Low, Close... but then what? I dont think anyone knows what you're talking about, I looked up OHLC Analysis on Google and this thread showed up as the top result.
Technical Analysis considers OHLC together with volume in its most general form. Strictly OHLC analysis leads to the concept of price patterns. APS is a good program that analyzes OHLC values of up to six bars daily or intraday and finds price patterns that satisfy user-defined performance criteria and risk parameters: http://www.tradingpatterns.com You may want to read the papers in the support area of the website to see how these price patterns based on OHLC are structured and used. Ron
Sure. What I wanted to know, as a noobe, was - is there some form of analysis that is derived from the open, high, low and close that more than 50% of successful traders (all time frames) would absolutely say has merit to successful trading? Iâve done a little searching and Iâm pretty confident that no indicator (RSI, Stochastics, Bollinger Bands etc) will garner more than 50% saying they use it and it works. Over the past few days Iâve read a few articles about support and resistance and higher highs/higher lows and lower highs/lower lows and it appears that these two forms of analysis might qualify.
I guess I'm not clear on why OHLC would differ much from candlestick analysis? There's a lot of info out there on candlestick analysis.
I have tried the APS demo in the past and I got tons of patterns based on OHLC. Looks like a good program. I cannot afford to pay for it at this point and I am looking for someone to share the cost or purchase a used copy if I can find one. Please send PM if interested.