Recent Posts by George Matysiak

Candlestick charts: CandleScanner color theme

[frame align="right" width="770"] [embed][/embed] [/frame] Almost all of the western literature devoted to candlesticks has simplified the analysis by limiting the candle colors to dark (black) and light (white) body. According to Seiki Shimizu, the colors of candles were originally much more complex, which he demonstrated in the example of a doji candle, in which…
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Long and short lines

[frame width="770"] [embed][/embed] [/frame] When we are searching for candlestick patterns on the chart, very often, we need to decide if a particular candle is long or short to consider patterns correctly as valid ones or not. It seems to be easy, but, in fact, what one person considers as a long candle another one…
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Basic Candles

See our Patterns Dictionary for other patterns. Check our CandleScanner software and start trading candlestick patterns! [frame width="370"] [embed][/embed] [/frame] Given the requirement for information on four prices, OHLC, in order to construct a candle, the resulting candle shapes can take on a variety of forms. The body may be very long or very short,…
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Candlestick construction

The construction of the single candlestick, known also as the candle line, is based on the basic data in a single time interval and consists of the following (OHLC) components: opening price (Open) maximum price (High) minimum price (Low) closing price (Close) [frame width="770"] [embed][/embed] [/frame] The time interval can be of any length spanning…
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