Indicator Notes | $ON | 5 consecutive bullish daily candles | Cumulative +29.22%
Definition: A streak of several consecutive bullish candles does not mean tomorrow’s candle will be bullish or bearish. Thinking that after such a long streak, the trend must reverse is a common misconception.
How to read it: When trading volume rises steadily during a run of consecutive candlesticks, it is often interpreted as ongoing inflows of capital. When volume gradually tapers off, it is often seen as a sign that fewer participants are following the trend.
The same readings can mean very different things in different market conditions, so don’t apply any single rule blindly.
#ON
For record-keeping only; not investment advice.
Definition: A streak of several consecutive bullish candles does not mean tomorrow’s candle will be bullish or bearish. Thinking that after such a long streak, the trend must reverse is a common misconception.
How to read it: When trading volume rises steadily during a run of consecutive candlesticks, it is often interpreted as ongoing inflows of capital. When volume gradually tapers off, it is often seen as a sign that fewer participants are following the trend.
The same readings can mean very different things in different market conditions, so don’t apply any single rule blindly.
#ON
For record-keeping only; not investment advice.
