Candlestick investor

fandango4

Newbie
2 0
Hi guys. I’m new and intending to begin using candlestick analysis. I’m reading Stephen Bigalow's first book and he advises to use a search service such as TC2000, but I’m intending on trading crypto, not stocks, so was thinking that the screener at tradingview would be an equivalent. However, I do not how successfully set the parameters which he suggests in order to filter the best opportunities. Could someone please advise? I’d really appreciate it.

The parameters are that one of the major patterns must have formed (doji, engulfing, hammer etc) after a long and strong up-trend or down-trend and stochastics should be <20 or >80.
 

Runepick

Junior member
17 1
It looks quite promising. Because I can relate this approach to classic approaches, because such standard strategies are the basis even for modern strategies. I think it can and should be used in practice. But I think you should take your time and not rush to use it in practice. You can start with a demo in order to get more accurate statistics and so you can understand when this approach deserves the most attention. Because any approach has its limitations.
I think in the end you'll be able to create something that will help you and other traders, and that's really cool news. If you need any help, be sure to write here. I think that my colleagues will support you.
 
 
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