Welcome to yet another awesome NAGA article! Let’s get down to business, shall we?
What do we mean by filtering candlesticks? Well, this is a form of candlestick trading that is enhanced by other popular technical analysis tools.
In simple words, filtering is a notion that has been applied in many other types of technical analysis and has now been verified with candle patterns.
Now, not all candlesticks are created equal, and therefore the reliability, importance, and significance of a signal depending on different factors.
For instance, a bullish reversal candlestick pattern near a support area should be considered more seriously than that in the middle of an uptrend.
Similarly, a bullish reversal pattern with an extreme oversold reading on your favourite oscillator will obviously add to its significance, and in the case of a bearish pattern, it would be viewed as more reliable near resistance or overbought area.
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