Detecting Candlesticks With No Upper or Lower Shadow

Summary

The document describes a candlestick indicator that identifies bars with no upper shadow or no lower shadow. It marks detected candles using arrow-style chart symbols and allows the user to set a minimum candle size.

This is a pattern-highlighting tool rather than a full trading method: the description does not define how the pattern is calculated beyond the shadow condition, explain how minimum size is measured, or state how signals should be interpreted. It includes no examples, market context, backtest, or performance evidence, so traders would need to validate any use of the marked candles themselves.

Key ideas

• The indicator flags candles that lack an upper or lower shadow.
• Detected candles are marked with arrow-style symbols on the chart.
• A minimum candle size can be configured.
• The document provides no trading rules or evidence about the pattern’s predictive value.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.