About: Jack Lempart

Recent Posts by Jack Lempart

The problem with doji candles (Part 2)

In the first part of the article, we described what a doji basic candle is and how to find it on the candlestick chart. We focused there on how the definition of a doji candle can be modified/adjusted to gain some flexibility. As a quick reminder, according to the classic definition, a doji candle is…
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Dragonfly Doji

See our Patterns Dictionary for other patterns. Check our CandleScanner software and start trading candlestick patterns! [caption id="attachment_4591" align="alignright" width="126"] Figure 1. Dragonfly Doji (basic candle).[/caption] Japanese name: taketombo Forecast: lack of determination Trend prior to the pattern: n/a Opposite candlestick: Gravestone Doji Construction: Opening, closing and maximum prices are the same or very similar…
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White Spinning Top

See our Patterns Dictionary for other patterns. Check our CandleScanner software and start trading candlestick patterns! [caption id="attachment_4584" align="alignright" width="126"] Figure 1. White Spinning Top (basic candle).[/caption] Japanese name: koma Forecast: lack of determination Trend prior to the pattern: n/a Opposite candlestick: Black Spinning Top Construction: white body at least one shadow required at least…
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Backtesting Part 2

In this blog article we look we look at how easy it is to set-up the conditions in CandleScanner in order to perform a backtest. First we need to customize the settings for the backtest, defining the entry and exit conditions. For the sake of illustration we assume the default entry and exit settings (found…
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