Happy Friday Bruce,

I usually plot candles because I prefer their visual look to bar charts, but I never got into the whole candlestick intepretation thing.

Flipping between books and live charts always gave me a headache, so I came up with an idea...

I'd like to plot rows of bullish green, bearish red, and neutral blue dots for some of the more common candles to start. This way I can just look at live charts and leave the book on the shelf. If this turns out useful I can always expand to other candles and maybe even candle patterns. We'll see. I figure candle and pattern recognition on live charts will enhance my chart reading skills. Might help if I ever decide to trade rice futures contracts. :)

For now, I'd like to plot 10 rows of dots. If you need specific unambiguous definitions let me know, but I know you've got PCFs for a bazillion candlesticks somewhere here in the forums.

Bullish

• Marabozu
• Bullish Engulfing
• Dragonfly Doji
• Hammer

Bearish

• Marabozu
• Bearish Engulfing
• Gravestone Doji
• Shooting Star

Neutral

• Doji
• Spinning Tops

Thanks!

Sure would be nice if TC2000 could paint price bars and candles. This has gotta be near the top of the devs honey-do list by now. :)

You can do this on your own (really!). The Boolean PCFs for Candlestick Patterns topic has formulas for a wide variety of candlestick patterns.

Just take a formula with the desired name from that topic and place it in the following template.

x / ABS(candlestick formula)

Where x is 10 different values (maybe 1 throught 10?).

If the formulas you want aren't in the topic, then use the search function to see if somebody has asked for it before.

Learn how to use the forums: post a new topic, reply, Search existing topics

Then, if you still can't come up with a formula that works the way you want for the desired candlestick pattern, you can provide a specific unambiguous definition for that candlestick pattern and we can work through making a formula for it together.

Thanks, Bruce!

Just took a quick look at that topic. I was under the impression you couldn't "Or" a condition. Maybe that's just EasyScans and not PCFs?

Remember ... for dummies. ;)

You can OR conditions in formulas, but you shouldn't need to if you are going to have ten rows of dots for ten formulas. You could even just change the value before the / ABS at the beginning of the formula to match to get everything into the same row. The output would look the same as having 3 indicators on the same row.

But if you wanted to have a single row of dots using 3 different colors using only three formulas, you would use something like the following for Bullish:

0 / ABS((bullish marabozu formula) OR (bullish engulfing formula) OR (bullish dragonfly doji formula) OR (bullish hammer formula))

Bearish:

0 / ABS((bearish marabozu formula) OR (bearish engulfing formula) OR (gravestone doji formula) OR (shooting star formula))

Neutral:

0 / ABS((doji formula) OR (spinning tops formula))

Note that each candlestick formula is put in its own set of parentheses and before be combined with the other formulas using OR.

Thanks! Yeah, I always like options (no pun intended). 

For starters I'd like to give each candle its own row, until I learn the difference, say, between a Homing Pigeon and an Abandoned Baby. LOL.

As I get better identifying individual candles, I can see combining the bullish ones into one row, the bearish ones in another row, and perhaps the neutral ones in a third. Then I can start paper trading for grins in my spare time to see if these old Japanese rice futures traders knew what they were talking about. :)

Uncle, FWIW, Tom Bulkowski has done research into what candle patterns are most effective. http://thepatternsite.com/CandleEntry.html

Cheers

Thanks b, ... yeah I'm aware of Bulkowski but haven't spent time on his site yet.

I've read a couple of Steve Nison's books so far. Interesting, but I've avoided interpreting candles in the past. But everyone needs something on the side ... some folks do crossword puzzles. LOL.