The issue I see with candlestick charts is that the same values produce different charts if the time is offset. So a pin bar can be "produced" if you offset the time, but if you don't then there is no pin bar. So I was thinking... If I just offset the time by 1s/1m/1h can have different patterns, what is the point of looking at those patterns? Just because happened to be the right offset doesn't mean anything...
For example on the hour chart in a country that has +30m timezone offset, will see all hourly charts completely different. Same with the daily charts between countries, they are different in all countries. So what is the point if the patterns appears in some countries but not in others?
What do you think?
Image 1:
Check attachment of the same chart. On the left you can see the pin bar, on the right you cannot, but the chart is the same, just a bit of offset.
Image 2:
The candlestick are different between providers
- 1st Ig
- 2nd livecharts
- 3th investing
Notice:
- IG vs livecharts and investing: Ig has an extra tick highlighted in black. That happens because of the time offset.
- livecharts vs investing: bottom right images, you can see the differences in the candlesticks. They are almost the same, but not the same.
Image 3:
So what do you think about point and figure charts? They change based on trend change and not on time. Check out http://ift.tt/2fiI1AV
For example on the hour chart in a country that has +30m timezone offset, will see all hourly charts completely different. Same with the daily charts between countries, they are different in all countries. So what is the point if the patterns appears in some countries but not in others?
What do you think?
Image 1:
Check attachment of the same chart. On the left you can see the pin bar, on the right you cannot, but the chart is the same, just a bit of offset.
Image 2:
The candlestick are different between providers
- 1st Ig
- 2nd livecharts
- 3th investing
Notice:
- IG vs livecharts and investing: Ig has an extra tick highlighted in black. That happens because of the time offset.
- livecharts vs investing: bottom right images, you can see the differences in the candlesticks. They are almost the same, but not the same.
Image 3:
So what do you think about point and figure charts? They change based on trend change and not on time. Check out http://ift.tt/2fiI1AV
Here is why I think candlestick patterns have no value: with example
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