#adp02
With the incredible popularity of Japanese Candlestick charting amongst technical traders, I thought it would be worthwhile to create an entire series dedicated to identifying these patterns using stock screens. There exists a significant void in candlestick screening technologies that are readily available to traders. The primary weakness of the existing screens for candlestick patterns stems from the traders lack of access to the screening variables themselves.
Before I go any further, this article and series will not go into detail about how candlesticks charts are made, nor why they’re useful. Neither does it cover candlestick patterns and the market forces that create them. There are plenty of free articles, blogs, and books available on that part of the subject.
The Advantage of Custom Candle Stick Pattern Screens
As I mentioned in the introduction, most of the candlestick pattern screens that exist on the interned today are static screens. What I mean by this is that the trader doesn’t have any view in to the screening code or variables, or more importantly, any ability to affect them.
Each of the screens that I link to from this post are full customizable. This means that you can adjust the size of the candles, gaps, and bodies of the each candle. You can also apply volume requirements, technical indicators, and other mathematics to each variable to match your trading style.
Candlestick Patterns Covered and Release Schedule
Developing and testing the code for these stocks screens is not very complicated, but it is time consuming. Hence, rather than trying to code them up all at once, I will be release a new screen each week and linking to it from this post. Below is the list of screens I will be covering:
***Bonus***
Japanese Candlestick Trading Meets Western Technical Analysis: Trading Doji Near Support and Resistance
- Harami / Harami Cross
- Dark Cloud Cover
- Downside Tasuki Gap
- Upside Gap Two Black Crows
- Bearish Engulfing Pattern
- Evening Doji Star / Evening Star
- Falling Three Methods
- Morning Doji Star / Morning Star
- Rising Three Methods
- Shooting Star
- Three Black Crows
- Three White Soldiers
- Upside Gap Two Crows
- Upside Tasuki Gap
- Abandoned Baby
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