Indicators with candlestick patterns

Hello everyone,

I am trying to write a piece of script to identify candlestick patterns for daily/intra week trade. As part of the script, I am planning to check the indicators as well. Can someone help me as which indicator to use for this? As of now, I have the following two indicators

1. rsi with over bought/sold levels at 70/30
2. stochastic with over bought/sold levels at 70/30

As of now I am checking for both of them with Boolean AND.

Can someone please help me with their experience here? I am looking out for suggestions like

1. any new indicator?
2. if I can use one of the rsi or stochastic alone
3. if I can use Boolean OR with rsi or stochastic
4. what time period to use to find out rsi or stochastic
5. And any other valuable inputs

thank you
nagarjuna

Can I get some help here?

Hi Nagarjuna..

u can also try with some other standard indicators like moving average, Bollinger band,Momentum etc.....

for RFI ob/os as 70:30 seems to be good... and try to do indicators with 24 ,50 days moving average... u may get good result... and let me know about the platform ur using for backtesting ,so that i will try to help u out about programming and testing performance .. All the best

Hi ChandranC,

I am attaching the piece code that I developed. This is the first code I wrote on a charting software. I am not sure what I missed. I have gone through the code and the theory to check the definition. The two and three candle stick patterns are defined as in the book and I have combined this with stochastic and rsi. But, still this does not give any good results.

Can you please check this and let me know if anything can be changed?

thank you
nagarjuna

Hai

I have programming experience in Tradestation platform where we can use (easy language) for programming...i am not familier with the code which you sent.... but with this mail i am sending you the source code which is done by Tradestation program, it may help u to verify and convert according ur platform..

Thanks::thumb:

use always %k and %D socidtics for accurate buy and sell signal. it is my own experience.--shekar.s

pl. read the above stochastics. sorry for the mistake.

if anybody know the formula for daytrading in shares

somebody is giving only one formula and asking 10000/-chage for this one time

Rs 10000/= for indicators, its a way of sucking your hard earned money. Try to look in to forums like forexfactory, fxfisherman and easyforex etc, you will come across tons of free custom made indicators which are more reliable and accurate. Please google it.

Regards
Saivenkat