Candlestick charts are neither more or less useful than any other kind of chart. Any bar chart that provides the open, high, low, close, volume, and open interest values provides the same information as a candlestick chart. Some people just like the way one looks.
The one thing that might move one to choose candlesticks is that is makes it very clear when a stock has closed above or below its opening price. If this is important to you, then go with candlesticks.
It's not so much the kind of chart you use as the kind of indicators you prefer. A lot of people like the MACD and the RSI for predicting tops and bottoms. Those who can afford the $175 might prefer the Delta Phenomenon that Welles Wilder used to sell for $35,000 a pop.
It also depends on whether you're trading stocks or commodities, or thinking about options. And if you're thinking about trading rather than investing, you better make sure that you have truly cyclical stocks so that you can choose undervalued stocks rather than worthless ones.
Most of my classmates do Stock Trading With Candle Stick Chart.....
They and i ,all of us think this kind of Chart is usful for us ......
Visual/Easy To UnderStand ,and so on ..........
I'm going to share my experience in FOREX. We can only see good candle stick pattern in longer timeframe i.e. 4 hours or daily. The problem I'm facing is that I'm using marketiva as my trading platform while metatrader as my charting platform. The 4 hours candle is formed 1 hour earlier than metatrader while metatrader forms its 4 hour candle, 1 hour earlier than other normal platform. I always got false signal due to this timing difference.
I like candlestick charts, I think they give you easier to see patterns than just regular bar charts.
allowing you to see the direction of the market a little easier, and anything that can give you a small edge is worth it.
