The indicator of the ranges of unrestricted time intervals.
Author: Nikolay Kositsin
This system with this indicator looks like a little bit complicated but anyway - I am posting it ...
Intraday High - Low Candle Strategy
If any of the Candlestick below occurs at the intraday low.
1. White Marubozu (The open price equals the low price and the close price equals the high price.)
2. Hammer (The long shadow is about two or three times of the real body, Little or no upper shadow.)
3. Inverted Hammer
4. Bullish Engulfing (when a bearish candle is immediately followed by a larger bullish candle.)
5. Tweezer Bottom.
6. Morning Star.
7. Double Bottom (When 2 candles are having same LOW).
8. Tripple Bottom (When 3 candles are having same LOW).. SELL LOGIC
If any of the Candlestick below occurs at the intraday high.
1. Black Marubozu (The open equals the high and the close equals the low.)
2. Hanging Man (A long lower shadow which is about two or three
times of the real body, little or no upper shadow, The real body is at
the upper end of the trading range.)
3. Shooting Star.
4. Bearish Engulfing (when bullish candle is immediately followed by a bearish candle that completely "engulfs" it.)
5. Tweezer Top.
6. Evening Star.
7. Double Top (When 2 candles are having same HIGH).
8. Tripple Top (When 3 candles are having same HIGH). ORDER ENTRY LONG when any of the Buy Logic candle formed and its LOW value is the Intraday LOW. SHORT when any of the Sell Logic candle formed and its HIGH value is the Intraday HIGH. STOP LOSS
For LONG, Exit at the first close below the entry candle LOW.
For SHORT, Exit at the first close above the entry candle HIGH. PROFIT TARGET
Enter 2 trades.
Profit 1 Target @ 50PIPS.Profit 2 Target @ 100PIPS.
Japanese Candlesticks Cheat Sheet