Best Candlesticks Pattern to Trade Stocks

Gil Cohen
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Gil Cohen: Department of Business, Western Galilee Academic College, Acre, Israel.

International Journal of Economics and Financial Issues, 2020, vol. 10, issue 2, 256-261

Abstract: This research examines whether candlesticks patterns can predict trends swings. Our results indicate that well known two days "Engulfing" pattern have failed to produce a positive gain while the "Harami" pattern has barely succeeded to do so. A more complex patterns known as the "Kicker" barley achieved a positive average gain and was also outperform by the simple B&H strategy. We found that the "Stairs" pattern developed here, has achieved a positive gain for all twenty examined stock and has outperformed the B&H strategy for sixteen out of the twenty stocks.

Keywords: Candlesticks Patterns; Trends; Algorithmic Trading; Stocks Investing. (search for similar items in EconPapers)
JEL-codes: C1 M2 (search for similar items in EconPapers)
Date: 2020
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