How to know these yellow highlighted candlestick bars wicks that spiked, upper or lower one happened first? without having to open a lower time to see where they headed first. Are there other type of bars that can tell you that? Thank you
Hahahaaa .. You are very entertaining Maybe there someone created a custom study that color code the candle bar, Like Paint bar studies in Easy language. but couldn't find one yet
I helped designed color codes in "easylanguage" for Omega Research that did exactly what you're asking about... Today, Omega Research is known as TradeStation. wrbtrader
Candlestick bars use the standard EOD or minute data that is open,high,low,close; the colar of the bar depends on only open and close; It does not tell which of low and high happens first. I asked a question about how to guess a few weeks ago on ET. No accurate solution except using tick data.
It depends on software you use. In ours (Medved Trader) a study could be written for an intraday chart that would go through the tick data for each candle and indicate, on the candle, which came first. I am sure it could be done in others.
it's a function of the time frame that the candle is calculated on. I find that using shorter time interval candles such as 1 minute for daytrading is a great approach. That's a very interesting question. The main point is why would one want to look at that. The correct use of candles depends on the classic candlestick pattern interpretation, eg hammers etc That's a very smart question, like you said you normally have to look at a lower time frame to see the data points Illustrated that form the candle pattern to answer that. A puzzle... Terr, any relation to medved quotetracker? Used to like it, from Jerry n Mike back in the day
People might want to know that to tweak their executions or to see whether and how the price movement of especially a longer timeframe candle like a day candle matched the unfolding of certain market-impacting events to study how the market reacts to events. Just two of the reasons what come to my mind.
lots of different ways did u catch the error in this example? notice the times are different here is the correct chart of the 60 min candle
i got a lil carried away here but 60 min 15 min 5 min all in one with a candle and this is just scratching the surface