FAQs

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Q?

What is CandleScanner?

A.

CandleScanner™ is a technical analysis software which is designed for investors interested in Japanese candle patterns. What makes this application exceptional is that, from the outset, it has been specifically designed for the detection of Japanese candle patterns. It is not just yet another add-on to some existing platform, but a full-blown application written by people having extensive knowledge of the topic of Japanese candlestick patterns. In other words, it is highly specialized and focused software. It is suitable for both seasoned traders and complete beginners.

More info about CandleScanner:

Q?

What editions of CandleScanner are available?

A.

There are 3 editions: Basic, Standard, and Professional.

FeatureBasicStandardProfessional
End-of-day (EOD) charting & automatic patterns scanning
Intraday (n minutes, n hours) charting & automatic patterns scanning
Algorithms detecting 106 candle patterns
Symbol statistics
Symbols Group statistics
Technical Analysis indicators
Backtesting module

Q?

What are the differences between CandleScanner editions?

A.

End-of-day traders access their data for the day after the markets have closed. Every single candlestick (bar) represents one day. CandleScanner Basic and CandleScanner Standard is designed for traders using daily charts (or higher, e.g. weekly).

Traders using intraday quotes (e.g. 1 minute, 15 minutes, hourly) make decisions about when to buy or sell during the trading day. CandleScanner Professional allows to display such charts. However, it is your responsibility to obtain the data you wish to use in practice (CandleScanner can detect changes in your data without the necessity of reimporting).

FeatureBasicStandardProfessional
End-of-day (EOD) charting & automatic patterns scanning
Intraday (n minutes, n hours) charting & automatic patterns scanning
Algorithms detecting 106 candle patterns
Symbol statistics
Symbols Group statistics
Technical Analysis indicators
Backtesting module

Q?

Which candlestick patterns are supported by CandleScanner?

A.

For the full list of supported patterns (with detailed descriptions), please check here: Patterns supported by CandleScanner.

Q?

Do I need to obtain quotes data separately for CandleScanner?

A.

Yes, CandleScanner does not provide data, that is for you to obtain. CandleScanner is provided with a sample data covering various markets. This data is given to demonstrate CandleScanner’s functionality. It is your responsibility to obtain the data you wish to use in practice. You can purchase CandleQuote enabling you to obtain data from YAHOO! Finance, which can subsequently be used by CandleScanner.

Please follow this link to see available data providers: Data Providers

Q?

Can I define my own candlestick patterns in CandleScanner?

A.

No, this is not possible. We plan however such feature in the future.
Algorithms recognizing predefined list of patterns can be however customized to some extent.
For the full list of supported patterns (with detailed descriptions), please check here: Patterns supported by CandleScanner.

Q?

What is CandleQuote?

A.

CandleQuote is a tool allowing you to download free end-of-day (EOD) data using YAHOO! Finance. Downloaded data is written in the form of a text file (ASCII file in CSV format). This data is compatible with any trading tool supporting EOD ASCII files. You can use it as a data source for CandleScanner. For more information, please refer to the User’s Guide.

Q?

Can I check in CandleScanner how patterns are performing?

A.

Yes, you can. There are two modules in CandleScanner to help you with that: Statistics Module and Backtesting Module.

Q?

On which operating system I can run CandleScanner?

A.

In order to successfully run and use the CandleScanner application you need to have a computer with Windows operating system (XP, Vista, 7, 8, 8.1).

Q?

Are there any restrictions on trial version of the CandleScanner?

A.

CandleScanner 4 trial has a time limitation set to 14 days. Within this period, the application is fully operational with a preloaded demo data. You cannot load your own data in the trial version. After the 14 days period, the application will not function.

Q?

What is the quality of the data downloaded by CandleQuote?

A.

The quality is wholly dependent on what YAHOO! Finance offers. It may happen that data is not complete or contains errors. In such cases, we cannot take any responsibility because it is beyond our influence.

Q?

In which edition a trial version of the CandleScanner is available?

A.

CandleScanner 4 trial is available only in Professional edition.

FeatureBasicStandardProfessional
End-of-day (EOD) charting & automatic patterns scanning
Intraday (n minutes, n hours) charting & automatic patterns scanning
Algorithms detecting 106 candle patterns
Symbol statistics
Symbols Group statistics
Technical Analysis indicators
Backtesting module

Q?

Can I run CandleScanner on a Mac (Apple) computer?

A.

Officially CandleScanner is not supported when installed onto a Mac computer.