Do candle stick patterns work better on daily charts than intra day ?

thfrtht

Junior member
10 2
What do you mean by markets?

To keep it simple I just mean NQ, ES futures. IE: Just because I change a 5 minute chart to a 5 minute and 1 second chart, isn't going to change the effectiveness of the strategy I am using nor would changing it to a 5 minute and 2 second chart change it. You're just viewing the information on a different time frame, it's not different information. Sure some people may be able to see it better, differently or able to parse the data better on certain charts, but that's the human / knowledge factor, not the chart.

Again, I am not challenging your personal experience on the Daily chart vs other time frames, I am just stating what I know to be factual and/or factual for myself.
 

tomorton

Legendary member
8,420 1,344
My main drift was to point out that candlestick patterns reliant on common and significant close-to-open gaps are not directly transferrable into any charts for markets where there is no closed session. They may still work approximately and there is plenty of anecdotal evidence from winning traders to say so.
 

tomorton

Legendary member
8,420 1,344
My main drift was to point out that candlestick patterns reliant on common and significant close-to-open gaps are not directly transferrable into any charts for markets where there is no closed session. They may still work approximately and there is plenty of anecdotal evidence from winning traders to say so.


But it makes me laugh when traders confidently assert that a market movement will follow or did follow a specific and named candlestick pattern - which they clearly don't know cannot occur without at least one gap.
 

thfrtht

Junior member
10 2
But it makes me laugh when traders confidently assert that a market movement will follow or did follow a specific and named candlestick pattern - which they clearly don't know cannot occur without at least one gap.


I better understand what you're saying now. Thanks for clarifying.
 

Powter

Junior member
20 1
I love to use Price action and I also see it as a candlestick pattern. but, it is more difficult to find signal filters. :confused:
 

thfrtht

Junior member
10 2
5 min charts just seem to be noise imo


I am sure that's both true and not true. For some people it is noise, but it isn't for everyone. For the most part I tend to trade higher time frames. But if the market is slower I'll move to extremely low time frames. Even a 30 second chart is tradable if you know what you're looking for and have clearly defined set of perimeters.
 

Attila the trader

Active member
157 11
I am sure that's both true and not true. For some people it is noise, but it isn't for everyone. For the most part I tend to trade higher time frames. But if the market is slower I'll move to extremely low time frames. Even a 30 second chart is tradable if you know what you're looking for and have clearly defined set of perimeters.
may be with your strategy i do swing so obviously s min dose not matter to me 15 is the smallest
 

maby8

Junior member
47 8
Candlestick patterns mainly offer data on value shifts in the currencies. They are also useful to traders as they help in offering some idea of what kinds of tactics could work well when trading. The Forex candlestick indicators are mostly used with regards to price changes. I think they can be more effective intra-day.
 

tomorton

Legendary member
8,420 1,344
Candlestick patterns mainly offer data on value shifts in the currencies. They are also useful to traders as they help in offering some idea of what kinds of tactics could work well when trading. The Forex candlestick indicators are mostly used with regards to price changes. I think they can be more effective intra-day.
Intra-day, candlestick patterns which rely on close-open gapping are a misleading distraction.
 

McQuant

Member
69 80

Do candle stick patterns work better on daily charts than intraday?​


We live in the 21st century hence I'd rather ask whether candlestick patterns are still relevant on markets being effectively made by algorithms.
 

sharabela

Member
52 10
In my experience, any strategy works better in a bigger time frame. Candle Stick pattern it self is not a strategy. However, it suggests whether the Bull or the Bear dominates. Thus, it works better in a daily time frame than in the intraday charts.
 
 
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