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Candlestick Scan

If you are not sure what candlestick patterns are, please check out this post about Candlestick Patterns

In this post, I will show you how to scan for candlestick patterns.

 



How to scan for candlestick patterns

There are many candlestick patterns, some are useful and some are not that useful. The most popular ones are the following ones.

Bullish Engulfing
Piercing
Morning Star
Inverted Hammer
Bullish Tri Star
Bullish Belt Hold
Three Outside Up
Rising Three Method
Last Engulfing Top

Hammer
Bullish Harami
Bullish Kicker
Above the Stomach
Bullish Meeting Line
Unique Three River Bottom
Bullish Side By Side
Three Line Strike
Three White Soldier

You can scan for most of these patterns from our free candlestick screener.

 

Candlestick Screener

 

Just go to the main page, and select a date that you want to scan, and click on any of the candlestick link and you will get a list of stocks that matched your searching criteria. By default, the date is always today's date. However, if you want to study a certain pattern, you would probably want to see how it perform recently. That's what the date field is for, you can search for patterns in the past few days.

After you click on any of the link, you will see the result set like the following. This is a Bullish Engulfing scan that I run for 8/28/2012.

 

Bullish Engulfing is one of the most powerful candlestick patterns. The following stock chart demonstrate how to use this pattern.

The stock ENOC formed a Bullish Engulfing Pattern in the beginning of August, and the stock went from $6.5 to $10.5 in less than a month which is over 60% gain. If you want to learn more about candlestick patterns, check out the candlestick trading post.

To screen for candlestick patterns, check out our candlestick stock screener.