Candle Code: discussion of the approach and the application to trade

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Uploaded: 29.04.2014
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None of the innovation of the last decades has not brought such changes in technical analysis as a way of representing market graphs called candlestick charts (Japanese Candlesticks Charts). Born in medieval Japan, this kind of schedule was brought into the world of computer technology.

In this world, then completely dominated western style bar chart (Bar Charts), there was no shortage of variety of special techniques (such as tic-tac-toe, and others). After a very short time candlestick ousted from the monitor screens all other types of graphs. This does not mean that they are all forgotten, each trader is working with one or another type of graphs based on their goals and tastes. But with the Japanese candles work all!

At first glance, the difference between the Western and the Eastern candlestick bar is small: the same price - opening, high, low and closing (open, high, low, close). But one small detail - candle body (body), connects the opening and closing prices, adds graphics candles completely different expressive quality to better see the subtle movement of the price, feel the changes in market sentiment. So many typical configurations of spark or groups of candles can give good signals to open and close positions. In this construct the whole trade approaches described in the literature.

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