Why do I use hollow candles & not traditional Japanese candlesticks? Are hollow candles just a cosmetic change, or do they provide us with some extra information that a traditional candlestick doesnโ€™t?

A thread ๐Ÿงต:

Traditional Japanese candlesticks are all solid. They are either green or red (colors may vary, but you get the point).
Hollow candles use two attributes to provide information regarding the price:
- Color of the candle
- Whether the body of the candle is filled or not
So, a green hollow candle can have its close > open (just like traditional candlesticks), or its open > close (here its body will be filled). Similarly, a red hollow candle can have its open > close (traditional), or its close > open (here its body will be hollow).
The colour of a hollow candle is decided by comparing the closing price of the current candle with that of the previous candle. So, a red-color candle (irrespective of whether itโ€™s filled or not) means that the current candleโ€™s close is lower than the previous candleโ€™s close.
The fill of a hollow candle is decided by comparing the close of the current candle with its open. For example, an empty candle with the body not filled (irrespective of whether itโ€™s red or green) means that the current candleโ€™s close is greater than the current open.
Combining the fill of the body & the candle color, we get 4 different combinations for the same candle, while in traditional Japanese candlesticks, we get only 2 combinations.
Hope this post helps you get the advantages of using hollow candles in place of traditional solid candles.

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Simple and effective way 2 make Money


Idea 1:- Use pivot level like 14800 in case of nifty and sell 14800straddle monthly expiry (365+335) exit if nifty closes on daily basis below S1 or above R1

After closing below S1 if it closes above S1 next day or any day enter the same position again vice versa for R1

Idea2:- Use R1 and S1 corresponding strikes multiple
Incase of R1 15337 take 15300ce
N in case of S1 14221 use 14200pe
Sell both and hold till expiry or exit if nifty closes below S1 or above R1 around closing
If the same bounces above S1 and falls below R1 re-enfer same strikes

Use same criteria for nifty, usdinr and banknifty

(This is must)Use this margin rule for 1lot banknifty pair keep 4Lax margin
For nifty one lot keep 3Lax
For usdinr 100lots keep 4Lax

I bet you if you do this on consistent basis your ROI will be more than 70% on yearly basis.

Couldn't explain easier than this

Criticisms are most welcomed.