CandleScanner attempts to remain true to the spirit of the original Japanese formulation(s). It so happens, that even between well-known authors, and their publications, there are differences, and even contradictions, on how to apply and interpret candlestick patterns. The team responsible for developing CandleScanner has spent a considerable amount of time (spanning several years) on the analysis, on comparisons and on tests between what different authors had to say on the subject of candlesticks and candlestick patterns. Gregory Morris ( Candlestick Charting Explained: Timeless Techniques for Trading Stock and Futures).Thomas Bulkowski ( Encyclopedia of Candlestick Charts).Steve Nison ( Japanese Candlestick Charting Techniques).Seiki Shimizu ( The Japanese Chart of Charts).The following list of authors, and their books, had the biggest influence on how the CandleScanner scanning algorithms were implemented: CandleScanner recognizes in total 104 patterns: 20 basic candles and 84 candlestick patterns.
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