by CI Staff
Candlesticker.com is a website that teaches users about different candlestick charting methods and patterns. Its simple but informative content makes the website a helpful resource for basic charting knowledge and education. When you first visit the site, you will see a “candlestick pattern of the day,” a large chart with an explanation of the signal and pattern underneath it. Along the left-hand side of the website you can see different stock exchanges from across the world. By clicking on one, you can view a candlestick pattern of the day from a security listed on the exchange you choose.
The Introduction tab provides a labeled diagram, which allows viewers to become familiar with the basic structure of a candlestick. The page also explains what a candlestick is and gives a brief history of the charting method, as well as types and uses of candlesticks.
Clicking on the Basic Candlesticks tab displays drawings of the main candlestick figures, each accompanied by a definition. If you click “more” after the definition for a given candlestick, you can learn about the criteria for recognizing it, the requirements and flexibility of the formation, and how traders interpret the candlestick when they see it in a pattern.
The Bullish Patterns tab provides different patterns that are associated with bullish trading behaviors. Again, each drawing is accompanied by a brief explanation, and if you click “more” you will get more details on the given pattern. Each drawing is also labeled with a buy level and stop loss. The Bearish Pattern tab is structured the same way as the Bullish Patterns tab, except it contains bearish patterns as opposed to bullish.
Overall this site is very simple, but it’s a great resource to refer back to for basic education. The drawings and explanations make it easy to understand, and best of all, it’s free.