Pattern Recognition And Candlesticks by Gary S. Wagner and Bradley L. Matheny
Here's a look at the new order of artificial intelligence linked with the old order of candlestick charting
By now, who hasn't heard of the Japanese form of charting called candlesticks? Until Steve Nison
introduced candlestick charting to the West a few years ago, charting services or software programs that
offered graphically displayed data in candlestick format were few and far between. Finding a guidebook
or manual on interpretations of candlesticks and their patterns was almost unattainable unless one could
Since then, there has been a stampede for chart services to offer traders the ability to chart data in
candlestick format. There has also been a groundswell of interest to learn about this form of technical
analysis. But the question is obvious. Why has there been so much curiosity about candlesticks? Why are
many Western technicians and professional traders incorporating candlesticks into their trading systems?
How useful are candlesticks?