Money-Making Candlestick Patterns: Backtested for Proven by Steve Palmquist

By Steve Palmquist

Candlesticks are essentially the most typical technical instruments in buying and selling. Designed to supply exact, at-a-glance details, those charts are built-in into nearly each site and charting software program resolution. yet, regardless of their recognition, the definitions of those candlestick styles are frequently imprecise and misleading.

Now, for the 1st time ever, Steve Palmquist fingers you the secrets and techniques for successfully utilizing candlestick styles in all industry stipulations. information that may take years to bring together and years to interpret is now at your fingertips.

Based on in depth again checking out and study, Money-Making Candlestick Patterns indicates the right way to competently use the most well-liked candlestick styles in bull, endure, and sideways trends.

Built from confirmed proof, now not thought, you are going to learn:

  • Clear definitions of every chosen trend to take away guesswork and enhance performance
  • Exactly what you must learn about again trying out to extend your wins and reduce your losses
  • The influence of varied marketplace stipulations at the strongest styles to take away surprises and bring up profits
  • Keys to taking out universal trying out blunders which can hinder you from making money
  • The candlestick development that has proven triple ROI in again testing

This e-book conscientiously assessments the assumptions inherent in ordinary candlestick development definitions. every one bankruptcy breaks down the trend to envision how parameters akin to present quantity, usual quantity, and value point will impression results.

The definitions that the majority usually produce ecocnomic trades are pointed out and defined with entire utilization directions for expanding your profitable exchange percentage.

In this ebook, technician Steve Palmquist palms you his years of analysis. the data on again trying out and the perception into your favourite styles offers you a professional virtue in a fragment of the time. Thorough and successfully geared up, this ebook will let you use candlestick styles to take advantage of each circulate the industry makes.

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Extra resources for Money-Making Candlestick Patterns: Backtested for Proven Results

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The analysis can also be done with other backtesting tools; the important thing is to make sure to do the analysis before trading a system with hard-earned money. WHY BACKTEST? Backtesting allows traders to see how a system has performed in the past, to evaluate different filters and parameters, and to evaluate a system in different market conditions. Backtesting is not a guarantee of future performance. Successful backtesting requires an ability to describe the trading pattern in a backtesting language, knowledge of appropriate testing periods, an understanding of how to interpret the results, and an ability to add and test different filters or parameters to the original test description.

This requirement places the upper part of the second day’s white body above the upper part of the first day’s black body. 1 that can be used to find basic bullish engulfing patterns. It is a lot easier to find candlestick patterns using this computer scan than trying to look through 2,500 charts by hand. com/TLECorner. 1 BULLISH ENGULFING PATTERN EDS FILE DownTrend if HiVal([close],5) < LoVal([close],20,15). BlackBodyYesterday if val([close],1) < val([open],1). WhiteBody if [close] > [open] . BottomBodyOverlap if [open] < val([close],1).

11: EVENING STAR PATTERN IN ADBE ON 5/01/06 Courtesy of AIQ 43 Chapter seven examines the evening star pattern in more detail in order to determine how the various parameters in the definition affect trading results. These include: • The effects of a very low day three in the pattern. • The effect of a long day three body. • Does a gap down on day three affect the trading results? • What is the effect of white space gaps on trading results? • What is the effect of various day two body size requirements?

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