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I´m trying to programmatically analyse candle stick pattern: I have historical OCHL data that I want to perform an automated analysis on, via b4j which is a programming language. The thing is that I do not know how to distinguish between a common doji and a longlegged doji - and I may run into other headaches like this. Yes, on some nice chart it looks pretty obvious: The common doji shows that the price has not moved much during the timeframe neither up nor down, whereas the longlegged doji shows that alot more happened with the price before it returned to the opening price. But how do you decide, if wanting to mimic this, what is alot and not so much? When is a common doji a longlegged doji? Where´s the threshold? 2 %... ? I guess that´s all relative to previous price action scaled over many candles, determining when something is long or shortlegged, but what´s the formula to do this? I have been googling this but could only find formulas describing what various common candlesticks look like in code, but I would think that deciding what their strength is also depends on a range of historical candlesticks to which they are relative.

Thanks in advance!

  • Every Candlestick pattern has a clear cut definition based on the O-H-L-C data. Find an online source that explains the construction of each one and you will then be able "to distinguish between a common doji and a longlegged doji." – Bob Baerker Jul 15 '18 at 11:14
  • I´ve only managed to find this page with various formulas, where none is the one I´m talking about. Also, they only base themselfes on one previous candle and seem to have fixed values set for pattern recognition - as I said I´d think that this is much more dynamic: candlestickforum.com/PPF/Parameters/16_263_/candlestick.asp And then there´s this one that aligns more with the way that I assume it should be, a much more complex take on multiple historical candles. candlescanner.com/candlestick-patterns/long-and-short-lines But, who´s doing it the "right way"? – Corey Hart Jul 15 '18 at 22:33

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