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Trading Systems | SEP 2001
Light Up Your Trading System With CandleCode Trading by Viktor Likhovidov
Light Up Your Trading System With CandleCode Trading by Viktor Likhovidov Market sentiment has traditionally been associated with subjectivity. Here’s a method that not only adds a quantitative bent to measuring market sentiment, but can also be applied to your trading. When I first devised CandleCodes, I designed them to quantitatively measure the market by ranking the CandleCodes according to typical interpretations. To put it simply, the CandleCode assigns a rank to each candlestick. A strongly bearish candle will have a very low rank, whereas one with less bearish sentiment will get a slightly higher rank. A bullish candle will get a high rank and a strongly bullish candle will occupy the highest place in this hierarchy. This scheme has worked well and has introduced order to the world of candlestick charting.
by Viktor Likhovidov
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