08dCandlestick Patterns
A candlestick pattern is what one to three sessions did, read as a picture. Switch Candlestick marks on under Candles in the chart's Indicators panel and the chart marks them: a triangle below the bar for a bullish reading, above it for a bearish one, and a diamond where the session resolved nothing. Hover any mark and it names itself and says what qualified it.
The marks are gated, and that is the point. Ungated, these patterns fire constantly — a hammer every other week, dozens of dojis a year — and a study that marks sixty bars a year teaches you to ignore it. OptyTrades marks a reversal only where there is something for it to reverse (a run of at least 2% over the prior five sessions) and a level for it to reverse at (a support or resistance zone the chart already found, or the extreme of the recent window). On a year of daily bars that is typically a handful of marks rather than dozens.
Which patterns get scanned is yours to set. With none ticked the chart scans all ten; tick any and it scans only those. The selection saves with your chart and travels in a layout, like every other study.
Bullish reversal
A decline that met buyers. One, two or three sessions of evidence that the level below was defended.
Bearish reversal
An advance that met sellers. The same shapes inverted, at the top of a run.
Indecision
Neither side finished the session in charge. Weak evidence on its own — a question rather than an answer.
What a candle cannot tell you
A pattern describes the sessions it is made of and nothing else. It carries no target, no invalidation beyond the level it formed at, and no measure of how far anything can run — which is the difference between these and the chart patterns drawn from swing pivots, where a measured move and an invalidation are part of the definition.
On the wheel that makes them a timing input at most. The position is still made of the strike, the cushion beneath it, the premium relative to that cushion and the quality of the underlying if you are assigned — none of which a two-session shape has an opinion about.