Do candle stick patterns work better on daily charts than intra day ?

[Powter]

I love to use Price action and I also see it as a candlestick pattern. but, it is more difficult to find signal filters.

 

[Attila the trader]

I had the same quesiton. Does it make sense to pay attention to shooting stars, hammers, hanging men, or engulfing patterns on 5 M chart or a 1H charts?

Which is the best time frame for looking into these patterns?

5 min charts just seem to be noise imo

 

[Attila the trader]

I love to use Price action and I also see it as a candlestick pattern. but, it is more difficult to find signal filters.

what do you mean by filters ?

 

[thfrtht]

5 min charts just seem to be noise imo

I am sure that's both true and not true. For some people it is noise, but it isn't for everyone. For the most part I tend to trade higher time frames. But if the market is slower I'll move to extremely low time frames. Even a 30 second chart is tradable if you know what you're looking for and have clearly defined set of perimeters.

 

[Attila the trader]

I am sure that's both true and not true. For some people it is noise, but it isn't for everyone. For the most part I tend to trade higher time frames. But if the market is slower I'll move to extremely low time frames. Even a 30 second chart is tradable if you know what you're looking for and have clearly defined set of perimeters.

may be with your strategy i do swing so obviously s min dose not matter to me 15 is the smallest

 

[tomorton]

Candlestick patterns mainly offer data on value shifts in the currencies. They are also useful to traders as they help in offering some idea of what kinds of tactics could work well when trading. The Forex candlestick indicators are mostly used with regards to price changes. I think they can be more effective intra-day.

Intra-day, candlestick patterns which rely on close-open gapping are a misleading distraction.

 

[McQuant]

Do candle stick patterns work better on daily charts than intraday?​

We live in the 21st century hence I'd rather ask whether candlestick patterns are still relevant on markets being effectively made by algorithms.

 

[hatemypips]

what do you mean by filters ?

Maybe he meant ways how to reduce noise. I use combination of MA on higher and lower timeframes to identify potential price reversals

 

[sharabela]

In my experience, any strategy works better in a bigger time frame. Candle Stick pattern it self is not a strategy. However, it suggests whether the Bull or the Bear dominates. Thus, it works better in a daily time frame than in the intraday charts.