When drawing trendlines with candlesticks, are you supposed to use the high/low, or the open/close? Your trend/support lines can be quite different depending on what you use. TIA
=============== R25; Answer is yes, all the above. When recording data, mostly record Open/h/l/Close..... And mainly the close; my moving averages[trendlines automatic drawn] , answer again, the close...
There's no right or wrong. Select one and stick with it. However, if you use the open/close (ignoring the shadows or wicks) and there's a lot of volume or volatility in those shadows in comparison to the price action of the body (open/close)... You'll be ignoring the most important price action of the interval. Mark
goes either way if you see charts at charts.ly you will see candlesticks with trendlines going from the close/open as well as the h/l of the candle.
Actually i found that using high/low is the most effective way to follow the trend of the market, the shadow should be considered when there is a volume spike. also note that when using "snap to price" option in MetaStock it goes to the high/low without considering the open/close prices.