Candlestick Pattern Recognition - Pros & Cons

Pattern recognition is a useful concept which can easily recognise the necessary patterns for us which we intend to trade. Over the last two decades, with the help of technology, this possibility wherein the software figures out the pattern for us has improved immensely. In this video, we take a look at the candlestick pattern recognition, which is available with TradingView and try to understand the pros and cons of this possibility. Prima facie, it is useful, but there is still a need for the trader to visually validate the recognition before he or she takes the trade. The good thing is more than 50% of a trader's job takes care of by the software, and it leaves the trader to focus more closely on the other 50%, which should lead towards a better profitable trade. It has been my personal experience and opinion that technology should be used to do the hard work, but one should always validate the results with his or her own discretion.
Thank you for following my work and please feel free to share your thoughts and suggestions.
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[@vamikaclasses]

Brilliant air

[@AbhijitPaulTrader]

Thank you 🙏

[@pradipspeaks9395]

Maybe instead of 50 SMA, anchored vwap is interesting to be in trend direction 🙏

[@pradipspeaks9395]

Subjective.. that's the point 🙏

[@codelearner4449]

Amazing work abhijit ji. Can you explain why you mentioned candlestick patterns should only be considered for short tf. Is it because in higher tf, geopolitical issues/events can induce temporary market movements which may not continue in future. Or is there something conceptually wrong in checking patterns on a higher tf.

[@maheshmc6205]

Great bhaiya, day by day you are helping on enriching the knowledge on markets and trading view, I can feel the improvements on myself💐

[@AbhijitPaulTrader]

that's good ... I'm glad these content are useful to you 🙏

[@khushalnagda5941]

yes sir so many new ideas and how to get best from intrading view thank u very much. sir i want one clarification of yesterdays video regarding fixed volume profile there are two colours blue and yellow can u explain what does it means

[@AbhijitPaulTrader]

those blue and yellow boxes breaks down trades which happened on the bid or ask and so considers them to be bullish and bearish volumes ... but do remember, if someone is buying then someone is also selling the same quantity

[@9820613791]

Thanks for sharing as it will help in getting better trade set ups

[@AbhijitPaulTrader]

indeed it should ... thank you 🙏