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Frankly I know of NO candlestick formations (recent or otherwise) which
would consistently pick out any regularities in price movement whatsoever.
I've spent a lot of time backtesting them over a large enough (I think)
dataset of index futures.
Actually, there were some "regularities" (like the size of the gaps seemed
to matter) but then again, extremely few and far between, and nothing like
80% hits. It was more like eg 52-53%, with zero slippage. I concluded these
were completely non-tradable.
I tested with 2% profit target and 2% max loss stops (so you might get
different results if you change that). Also, results could be different if
you marry candlesticks to some regular Western TA indicators {in this case,
regularities would be more due to Western TA indicators, and not
candlesticks}. Also, you could maybe devise your own candlestick
formations - some large structures like 3-20 bars or more - which could
behave in a fairly regular way {I think thats not likely, but theoretically
possible}.
My advice would be, always backtest candlesticks with lots and lots of data.
For what it's worth,
Yarroll
PS. My first post here. Greets everyone :-))
-----Wiadomość oryginalna-----
Od: server not recognized <winchp@xxxx>
Do: amibroker@xxxxxxxxxxxxxxx <amibroker@xxxxxxxxxxxxxxx>
Data: 6 października 2001 01:45
Temat: Re: [amibroker] Re: Candlestick-Analyzer
>I take your comments in good humour Dimitri, but I have read of recent
formations only being about 40% successful i.e consistent
>with what they were supposed to do. Others were completely contrarian,
either indicating irregularly or completely the opposite of
>what they were supposed to indicate.
>
>I'd therefore suggest a back test count on each before simply accepting
them.
>
>P
>
>----- Original Message -----
>From: "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
>To: <amibroker@xxxxxxxxxxxxxxx>
>Sent: Saturday, October 06, 2001 2:58 AM
>Subject: [amibroker] Re: Candlestick-Analyzer
>
>
>> Well, well...
>> Yuki is trading 30 years, you are 300 year trader, I think it is the
>> proper time to move to a newbies rock+roll T/A site...
>> DT
>> --- In amibroker@xxxx, "server not recognized" <winchp@xxxx> wrote:
>> > Tom,
>> >
>> > Have you checked each candlestick formation because I recall they
>> don't work like they did in the 17th century.
>> >
>> > P
>> > ----- Original Message -----
>> > From: Tom Supera
>> > To: amibroker@xxxx
>> > Sent: Friday, October 05, 2001 11:03 PM
>> > Subject: [amibroker] Candlestick-Analyzer
>> >
>> >
>> > Hi,
>> >
>> > Here's my formula for candlestick-detecting, but it's in work and
>> also not complete and not optimized.
>> > If anyone of you are interested to share and optimize the formula
>> with me, i'm happy.
>> > After them, i work on a trading system with CCI or MRI, any
>> overbought/oversold indicator, volume and the candlestick analyzer.
>> > I think it's one of the best way to make a good winning system.
>> >
>> > Thanks for your help
>> >
>> > Tom Supera
>> >
>> > Yahoo! Groups Sponsor
>> >
>> >
>> >
>> > Your use of Yahoo! Groups is subject to the Yahoo! Terms of
>> Service.
>>
>>
>>
>>
>>
>> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>>
>>
>
>
>
>
>
>Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
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