About Scanner: Long White Candle Candlestick Scanner

What is Long White Candle Candlestick ?

It is three times higher than the average body of a few candles.Upper & lower wicks are smaller than the body.
Long White Candle is a strong bullish signal with a long real body, indicating that buyers are in control.

Key Points for Long White Candle:

• Long Real Body shows strong buying pressure and a significant upward price movement.
• Minimal Shadows usually has short or no shadows, indicating the price closed near its high.
• Uptrend or Reversal can appear in both uptrends (continuation) or at the end of a downtrend (reversal signal).

Long White Candle Trading Strategy:

• Downtrend Reversal look for the Bullish Long White Candle at the end of a downtrend, near support levels.
• Uptrend Continuation spots it in an ongoing uptrend to confirm the continuation.
• Confirmation waits for the next candle or volume spike for confirmation.
• Combine Indicators use RSI or MACD for better signal strength.

Warning

One should avoid trading during a minimal (below 1% range) or long candle (above 10% range).

Target

Short term - At least height of the candle
Long term - Look at other aspects like volume spurt , recent support / Resistance levels and other technicals.

Stop Loss

Stop-loss set below the low of the candle.

TSR Long White Candle Scanner

• Set Alert as it happens
• Combine Long White Candle pattern with other Technicals/patterns with Fine Tune Filter Option
• Filter on Stock basket or your watchlist
• Back test to gain confidence on the Pattern
• Filter on small ticks like 5 mins to Monthly tick
• Auto refresh

Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option

Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.

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