Did you know there are more than 60 candlestick patterns?
They come in different shapes and sizes but they all share something in common : they are made of 1 to 5 candlesticks (I know you surely guessed it from its name).
Below you’ll find the ultimate database with every single candlestick pattern (and all the other types of pattern if you are interested). Here there are detailed articles for each candlestick pattern. Each article goes into detailed explanation, gives you examples and data. No more doubt about what makes a specific pattern and how well it works.
This extensive cheat sheet will definitely give you an edge and let you understand and recognize every pattern. Plus at PatternsWizard, our absolute focus is to bring you data-driven performance statistics. So for most patterns (articles below) you’ll find data about their performance and reliability (how often they confirm, reach the target or stop, how often they appear, …) to adjust your trading strategy.
Candlestick patterns are part of a way to represent market prices : the candlestick charts.
The best way to chart candlestick is using the TradingView solution. It lets you chart candlestick and all other charting types and you can try it now for free.
A candlestick is a way to represent an aggregation of all the prices traded for a given time period. It can for example aggregate a full trading day of prices. During this time period (which can take any value, from 1 minute to a few months), instead of showing every single price traded, a candlestick will only show 4 price values :
The area inside the open and close is the body. It’s often represented as filled and is either green or red depending on whether the market was bullish (went up) or bearish (went down). Outside of the body are the wick and tail (or sometimes called upper shadow and lower shadow). The upper shadow is from the body top to the highest price, the lower shadow is the opposite. They can create bullish candles or bearish candles. Candles help traders understand how the buying and selling pressure is applied during the given time interval.
Depending on the pattern (each pattern can tell a different story), they can be a hint for :
To learn more check out our candlestick chart article or signup to Joe Marwood’s course “Candlestick Analysis For Professional Traders” (he has more than 40k followers on Twitter so he knows what he talks about). He’ll tour you around with videos about the backtesting of 26 candlestick patterns.
Want to go into the details of a specific pattern. You’re at the right place!
These patterns often have colorful names. Feel free to discover the detailed article for each candlestick pattern right below :
What is the Cradle Pattern? To adequately understand candlestick patterns, you must have had a good understanding of Japanese candlesticks and all their attributes. Ideally, cradle patterns should be an … Read more
Introduction Candlestick charts are technical tool that put together data for numerous time periods into single price bars. This enables them to become more important than traditional open-high, low-close bars … Read more
The Long Line candlestick pattern is a 1-bar pattern. It simply consists of a long body candle. It can be bearish or bullish. What is a long line candle? Candlesticks … Read more
The stalled candlestick pattern is a three-bar pattern that predicts an upcoming reversal of the trend in the market. Although it is usually a bearish reversal pattern, yet there are … Read more
The modified Hikkake candlestick pattern is the more specific and upgraded version of the basic Hikkake pattern. The difference with the normal pattern is that the “context bar” is used … Read more
The Short Line candlestick pattern is a 1-bar very simple to understand pattern. It simply consists in a candle with a short body. There are various kind of specific variations … Read more
High wave is a 1-bar candlestick pattern that has very long upper and lower shadows and a small real body. It shows indecision in the market. Statistics to prove if … Read more
A stick sandwich is a 3-bar pattern. The closing prices of the two candlesticks that surround the opposite colored candlestick have to be the same. Statistics to prove if the … Read more
The on-neck candlestick pattern is a 2-bar continuation pattern. Closing prices of the second candle is nearly the same than first candle high/low forming a horizontal neckline. Statistics to prove … Read more
The in-neck candlestick pattern is a 2-bar continuation pattern. Closing prices of both candles are the same or nearly the same forming a horizontal neckline. Statistics to prove if the … Read more
We research technical analysis patterns so you know exactly what works well for your favorite markets.
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