Still working on the candlestick code. Looks like I’ve got the Evening Star code pretty close. Here are tonight’s submissions…
Each chart is linked…
In last night’s Morning Star post, someone wondered in the comments whether I will be backtesting these candlestick patterns. Sure, although it has been done before, by Ripe Trade. Once I feel that the code is good, I’ll run some backtests. It may actually be worthwhile to compare my results to Ripe Trade’s.
Wood, I don’t think that those are true evening stars, according to stockcharts.com
http://stockcharts.com/help/doku.php?id=chart_school:chart_analysis:candlestick_bearish_
See their example with AT&T chart.
You need long bodies and larger gaps. ITUB really doesn’t have any sustained buying pressure before the star formation. MT really doesn’t have much a downside gap, same with ATHN and ICO.
yeah, they’re not perfect yet. I adjusted the code to account for the gap, and will continue to tweak it until it is finding good examples.