Based on a weekly basis, the Haguro Method provides a great way to analyse instruments on a longer-term basis. This makes it great for longer term positions in a retirement account, or for setting an outlook if you are a short-term trader.

The Haguro candlestick pattern is simply a way to identify support and resistance levels, but with a different approach. Furthermore, contrary to the general opinion of plotting horizontal support and resistance levels at closing or high/low price levels, the Haguro method focuses on the candle’s range, thus making the mid-points of the weekly candlestick as the support and resistance method.

You can use the Haguro Method with MetaStock to scan for instruments that have crossed through their midpoint or are currently showing a reversal bar. The commentary in MetaStock does a great job in showing you the lines on a chart and explaining them to you every week.