Candlesticks - Do They Work?
We read Gregory Morris’ Candlestick Charting Explained back in 1998 and have since used candlesticks in our charting, even though we have never implemented candlesticks in any of our quantified strategies.
We are not the only ones who use candlesticks. Candlesticks are a popular charting tool and patterns are frequently used as anecdotal evidence. Unfortunately, very little is backtested and verified.
We have recently started quantifying all candlestick patterns that exist - more than 70 patterns.
Until we finish our work on candlestick patterns, we recommend some previous articles we have written about candlesticks:
Do candlesticks work? A quantitative test of 23 candlestick patterns
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