Crap! I don't know why the $ and X are so big!
arrow down - bearish candle
flag mark - bullish candle
x - bad trades. The X is placed at the swing high or low after the signal.
$ - good trades. the $ is placed at the swing high or low after the signal
This is a study that I've made in order to check the accuracy of a special candlestick. If you are interested, you have too go to 1992 and zoom in, then scroll to the right.
There is a candle that has no name. It has a long wick and a long body. It can either be bullish or bearish. The wick has to be clearly visible, and the candle must have a long body, at least as long as the wick. The price range, from low to close (not high) or vice versa has to be more than 1%, the bigger the better. If the candle is more than 5%, I observed that it rarely gives out a nice trade, because the risk is too big. These long range candles are drawn in volatile times only. The problem with this type of analysis is subjectivity.
I have marked down every candle of this type. I have placed the flag or the down arrow above or below the specific candle. The x and the $ represent the next major swing high or low. And no, no one would have ever taken profits where the $ is, it's just indicative.
There were 12 short signals triggered. 8 of them have been successful.
There were 33 long signals. 25 of them have been profitable. A few have been amazing.
You could be using these triggers on their own, but I use them together with my trading system. I believe that we had a long signal on Friday.