Some of these Japanese candlesticks also help in spotting stocks which are going through a phase of confusion but might end in favour of bulls OR bears. While some of these candle formations are fairly accurate & can help traders quickly spot a trend reversal, there are other candle formations which can only help figure out when an ongoing trend has paused and when it is about resume. It offers a wealth of tools for analysing charts, features like Point & Figure chart, Candlestick pattern detection, and Market scanner are real gem. Also, candlestick scanner can help find stocks where the bulls are ruling the roost, but the bears are quietly making a move. ET’s Candlestick screener is designed to help traders identify stocks where candlestick formation is indicating that bears currently have control, but the underlying indications are signalling that the bulls will be back soon in just a click. (Fun fact: Candlesticks were first used in 16th century by Japanese rice traders, reliable and handy even in 2020).įor traders, learning & identifying bullish or bearish candlestick formation in a maze of listed stocks is a painstaking activity. Once the scanners give me an alert, I then review the candlestick chart and. Wondering which stocks may witness action tomorrow? Looking for stocks where bearish trends might be over soon, or bullish trend might be under threat? Candlestick screener identifies candle formation for you to answer these. 1215s Proprietary Scanner Settings For The Trade-Ideas Software Josh Dennis.
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