|
PureBytes Links
Trading Reference Links
|
There is a good book on the candlesticks that is about 1/2 devoted to the
patterns and about 1/2 devoted to a statistical study of their
effectiveness. The name is "Candlestick Charting Explained" by Gregory L.
Morris. It costs about $35 (USD) at bookstores and might be picked up
cheaper at one of the online trader's sites.
The candlestick formations studied were taken from the S&P 100 stock issues
and 41 commodity perpetual futures contracts. Of 62 possible candlestick
patterns covered in the book, only 55 actually showed up in the data and
some of those were single occurances. There are quite a few pages devoted
to to a candlestick's prediction ability 3, 5, and 7 days into the future,
with the patterns ranked in lists as to their performance. There is another
chaprter with combining candlesticks with momentum indicators. The
statistics are well laid out and even I could follow them.
IMHO, if you want some insight into the reliability of candlesticks, this is
a must have volume.
Hope this helps! ..... John
----- Original Message -----
From: WCMgt@xxxxxxx
To: metastock@xxxxxxxxxxxxx
Sent: Thursday, March 01, 2001 10:33 AM
Subject: Re: candlesticks
I would like to have a copy of the paper as well.
Thank you in advance.
|