New candle idea

The image below pretty much explains what it does. I haven’t really thought about it’s implications too much, and it’s mainly just a visual aid to show the battle between bulls and bears.

Feel free to condemn it and call it stupid, I’m just intrigued to see what people thought of it and whether it could be of any use to anyone. I personally would quite like the visual aspect of it.


I always like to see new ideas, but (and not seeking to knock) unless I am being dense (more than possible) in your new version I can’t see how Price opened and closed on the bar, which is a good indication of sentiment? With a traditional candlestick or bar, these levels are clear, and helpful.

ST

benjam1n,

Along the same lines, take a look at “Bollinger Bars”.

Bollinger on Bollinger Bands | AIS Chart | Official site of John Bollinger’s book :slight_smile:

Bollinger bars look kinda confusing but interesting.

With regards to the open and close, the close is the line separating the red and green and the open is next to this line on the next candle, a small line could represent this.

Thanks for the feedback so far!

EDIT: correction!

I think this e-book can help you.
I just download it. Few pages, good explanation, easy to read. Hope it can help

This is very similar to a 3 method continuation candlestick pattern.

It’s almost the same.

You will find this signal shows the continuation of the previous short term trend.