Wickless Candles

hoodooman · Mar 20, 2007

The candles are heikin-ashi.

Razor · Mar 20, 2007

Quote from jtnet:

F it!

why not just use a line chart?

Hi,

Yes this is an option and I did look at the line charts (which is essentially the same thing) but I just seem to see better via the candles without wicks

fandyur · Mar 20, 2007

Wether it works or not.
It's an imaginative way of thinking.
Good for you.

Razor · Mar 20, 2007

Quote from fandyur:

Wether it works or not.
It's an imaginative way of thinking.
Good for you.

Thank you for the positive attitude, appreciated

osorico · Mar 20, 2007

Quote from hoodooman:

The candles are heikin-ashi.

Visually perhaps, not in content...

http://ensignsoftware.com/tips/tradingtips57.htm

Razor · Mar 21, 2007

bttt

murray t turtle · Mar 22, 2007

Quote from Razor:

Me again,

Yes I trade intraday.

I have only been looking at this for a couple of hours but I must admit the support and resistance intraday from candle bodies only seems to have some value.....how much value is yet to be seen

Have a look for yourself, play around with some support and resistance points based off the bodies only on your intraday chart and then transfer those lines to your chart with wicks and see if you notice anything

Cheers

==================
Razor;
Well its a quicker read, easier read, but i like to read, much

Might be able to make it work anyway ;
close may be most important.

And i like those [open ,high lo, close]candles, long or short where they dont have any wicks; thought at first thats what you were talking about

Neet · Mar 22, 2007

Another vote for Heikin Ashi.

IronFist · May 18, 2007

Quote from osorico:

Visually perhaps, not in content...

http://ensignsoftware.com/tips/tradingtips57.htm

Thank you for positng that article. I think it's caused me to never use Heikin-Ashi candles again. They look pretty, and they make everything look like it's trending nicely, but they give you bad data. Here's the most disturbing part:

In fact, haUp candles will ALWAYS have a high wick, and haDown candles will ALWAYS have a low wick. This is a built in behavior that may surprise most Heikin-Ashi candle readers. It is one of the primary areas I feel is misleading.

bundlemaker · May 18, 2007

The simple fact that hypo boy is against it suggests usefulness. Removing the wicks is indeed a valid concept, particularly in light of auction market theory and market profile ideas. Get rid of the wicks and the areas of price acceptance stick out like a sore thumb. I have been doing this on long term charts for several years now.