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V. 10:12 (549-549): Traders' Tips by Technical Analysis, Inc.
V. 10:12 (549-549): Traders' Tips by Technical Analysis, Inc.
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Traders' Tips by Technical Analysis, Inc.
METASTOCK PROFESSIONAL AND CANDLESTICKS
Candlestick charts are still new to traders in the U.S. Here's a method to assist you in identifying specific candlestick patterns in MetaStock Professional.
Candlestick patterns use the open, high, low and closing prices, and so your data will need all four to correctly plot a candlestick pattern. The opening and close for the day define the body of the candlestick, while low and high are the thin lines that extend beyond the body. The thin lines are called the shadows. If the market closes above the opening, the body is empty or white. Closes below the opening will have a black or filled-in body. Three important candlestick patterns are the bullish engulfing line (large white body engulfing a small black body), the bearish engulfing line (large black body engulfing a small white body), and the doji (open and closing price are the same).
METASTOCK PROFESSIONAL AND CANDLESTICKS
Candlestick charts are still new to traders in the U.S. Here's a method to assist you in identifying specific candlestick patterns in MetaStock Professional.
Candlestick patterns use the open, high, low and closing prices, and so your data will need all four to correctly plot a candlestick pattern. The opening and close for the day define the body of the candlestick, while low and high are the thin lines that extend beyond the body. The thin lines are called the shadows. If the market closes above the opening, the body is empty or white. Closes below the opening will have a black or filled-in body. Three important candlestick patterns are the bullish engulfing line (large white body engulfing a small black body), the bearish engulfing line (large black body engulfing a small white body), and the doji (open and closing price are the same).
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