Candlestick charts are often used in speculative markets to describe and forecast asset price movements. This book is the first of its kind to investigate candlestick charts and their statistical properties. It provides an empirical evaluation of candlestick forecasting. The book proposes a novel technique to obtain the statistical properties of candlestick charts. The technique, which is known as the range decomposition technique, shows how security price is approximately logged into two ranges, i.e. technical range and Parkinson range.
Through decomposition-based modeling techniques and empirical datasets, the book investigates the power of, and establishes the statistical foundation of, candlestick forecasting.
- ISBN10 0367703378
- ISBN13 9780367703370
- Publish Date 12 March 2021 (first published 11 March 2021)
- Publish Status Active
- Publish Country GB
- Publisher Taylor & Francis Ltd
- Imprint Routledge
- Format Hardcover
- Pages 132
- Language English