It is possible to use multiple indicators on the same chart, but it takes some practice. It is not always easy for traders to figure out exactly how indicators work in combination, so you may need to spend some time playing around with different combinations before getting any sort of reasonable results.
5.6 What are candlesticks?
What they are and why you should care
Candlesticks signal changes in price volume, volume orders (pips), open orders, support/resistance levels, reversal signals (higher lows or lower highs) and more. They come into play when the market gaps up or down after a news release or when there is no news that could explain these big moves in price. On the day following an announcement where everyone expects prices to rise by 10–20%, it is very likely that your chart will show something like this:
The red vertical lines represent significant bars where candlestick patterns can be seen on timeframes longer than one bar (that’s either two or four points respectively). It looks as if a whole series of candles has been produced followed by a gap down followed by bullish candlesticks until another gap down comes again – but what actually happens at the end of each candle?
They really refer to a specific pattern identified as a “candle.” Every candle represents one hour based on its opening and closing prices – what used to happen at midday would be marked as one hour ‘high’ and low’, whereas