Are candlestick technical trading strategies profitable in the Japanese equity market?

被引：32
|
作者：
Marshall B.R. [1 ]
Young M.R. [1 ]
Cahan R. [1 ]
机构：
[1] Department of Finance, Banking and Property, College of Business, Massey University, Palmerston North
来源：
Review of Quantitative Finance and Accounting | 2008年 / 31卷 / 2期
关键词：
Candlestick; Japan; Market timing; Technical analysis;
D O I：
10.1007/s11156-007-0068-1
中图分类号：
学科分类号：
摘要：
We show that candlestick charting, the oldest known form of technical analysis, is not profitable in the Japanese equity market over the 1975-2004 period. Candlestick technical analysis, which was developed in Japan in the 1600s, is deeply intertwined with Japanese culture and is very popular in Japan. However, there is no evidence candlestick technical trading strategies add value in either the entire 30 year period, in three 10 year sub-periods or in bull or bear markets. © 2007 Springer Science+Business Media, LLC.
引用
收藏
页码：191 / 207
页数：16
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