Candlesticks

[lucid]

Hey guys, I've been reading up on candlesticks (AMAZING!) and some of the key patterns and such and thought I had it down mostly. Then I starting charting some stocks on stockcharts.com and found somethings i couldn't figure out. If anyone could shed some light here I'd be most grateful:

1) Candlesticks that have a 'body' that is black. Not clear, not filled in red, black. What do they mean?
2) Clear bodies, but the outline is red. What does that mean?

Thanks

[Raptorsrule]

Hey guys, I've been reading up on candlesticks (AMAZING!) and some of the key patterns and such and thought I had it down mostly. Then I starting charting some stocks on stockcharts.com and found somethings i couldn't figure out. If anyone could shed some light here I'd be most grateful:

1) Candlesticks that have a 'body' that is black. Not clear, not filled in red, black. What do they mean?
2) Clear bodies, but the outline is red. What does that mean?

Thanks

From Stockcharts:

Traditionally, candlesticks have not been different colors. If the close was less than the open, you get a filled candlestick and if the close was higher than the open, you get a hollow (white) candlestick.

If color option is selected:

If the previous day's closing value is less than or equal to the closing value for the current day, draw the current day's candlestick in black.
If the previous day's closing value is more than the closing value for the current day, draw the current day's candlestick in red.
Notice that these rules are subtly different from the rules for determining whether to draw a filled candlestick or a hollow candlestick. Those rules (stated in the first paragraph above) rely on the relationship of the opening price for the current day to the closing price of the current day. These subtle differences can lead to what I call "oxymoronic" candlesticks -- candles that are colored bullishly, but filled bearishly (i.e., a filled, black candle) or vice versa (i.e., a hollow red candle).

[lucid]

Thanks buddy... :)

Is there a way to turn the color option off?

[lucid]

Nevermind... I'm a blind idiot. Found it!

[keithsan]

Candlesticking PDF I like very much, (not personally crazy about candlesticks but all knowledges is good)

http://www.traderslibrary.com/tradesecrets/manuals/12005.pdf#search='candlestick%20patterns%20high%20 wave' (http://www.traderslibrary.com/tradesecrets/manuals/12005.pdf#search='candlestick%20patterns%20high%20 wave')

[bilgert]

Been reading the book by Steve Nison. Interesting stuff, not sure if it'll be all that helpful interday, but nice to have another weapon in the arsenal.

[keithsan]

Been reading the book by Steve Nison. Interesting stuff, not sure if it'll be all that helpful interday, but nice to have another weapon in the arsenal.

actually on larger traders catching a large stemmed candle intraday on a 10 minute, sometimes a 3 etc... is normally a nice thing.

but dont read to much into that crap. its based on volume buying and selling, so intraday you should be able to guess the candle.....