All Candles Patterns PDF
How to Read Candlestick Chart for Day Trading
Brief History
Candlesticks were created in the 18th century by the legendary rice trader called Homma Munehisa to give an overview of the opening, high, low & closing market stock indices price over a given period of time.
They were used by legendary rice trader to predict future market indices prices. After dominating trading the rice market, Munehisa eventually moved to the Tokyo exchanges where he gained a huge trading fortune using this trading analysis. He is said to have made over a hundred consecutive winning trades.
Types of Indices Trading charts
There are Three types of charts used in Indices: Line, bar and candles.
Line - plots a continuous line connecting closing indices prices of indices.
Bars- displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW & CLOSE. The Opening stock indices price is displayed as a horizontal dash on left & closing stock indices price as a horizontal dash on right.
The main disadvantage of a bars is that it is not visually appealing, therefore most traders don't use them.
Candlesticks Patterns - Best Indices Candlesticks Book - these use the same stock indices price data as bar charts (open, high, low, & close). However, they are displayed in a much more visually identifiable way which looks like a candlestick with wicks on both its ends.
How to Interpret Best Indices Candlesticks Book
The rectangle section is known as body.
The high & low are described as shadows & plotted as poking lines.
The color is either blue or red
- (Blue or Green Color) - Indices Prices moved up
- (Red Color) - Indices Prices moved down
Most indices trading platforms like the MT4, use colors to mark the direction. Colors used are blue or green: when stock indices price moves up, red: when stock indices price moves down.
Candle Sticks Vs. Bar Chart
When candles are used it is very easy to see if the stock indices price moved up or down as opposed to when a bars are used.
The Best Indices Candlesticks Book also have very many formations that are used to trade the Indices Trading market. Best Indices Candlesticks Book - candlesticks patterns have different technical analysis explanation and the most common Best Indices Candlesticks Book are:
The above Best Indices Candlesticks Book and Patterns is what makes the Japanese candles patterns popular among stock indices trading technical traders & it is why this type of stock indices analysis are the most widely used when it comes to interpreting the stock indices trading market. The analysis for these Japanese candles pattern formations in indices trading is the same as that one used in stocks trading - Best Indices Candlesticks Book.
Drawing japanese Candles Indices Charts on MetaTrader 4 Platform
To draw Candlestick Charts on the MT4, select the MetaTrader 4 charts drawing tools within the "MT4 Toolbar" - shown below.
To view this tool-bar in MetaTrader 4 navigate to "View" Next to file at top left corner of the MT4 Platform, Click "View", Then Click "Tool bars", Then check the "Charts" Button. The above Charts toolbar will appear.
Once the above toolbar, appears you can then select the type you want to convert to, If you want to view using the bar format, click the bar stock indices chart tool button as shown above, for line format click the line stock indices chart tool button, for Japanese candlesticks format click the "candlesticks stock indices chart tool button".
All Candles Patterns PDF. Advanced Candles Patterns Book PDF - Advanced Candles Patterns PDF. Bullish Stock Indices Candles Patterns & Bearish Stock Indices Candles Patterns & Candlestick Continuation Patterns PDF - How to Read Candlestick Chart for Day Trading
