Yes. I am not kidding. By changing the candle sticks pattern you can indeed know the trend of a stock. It would not require any technical parameters. How ever it would require you to open a technical chart since all kind of candle sticks are given there.
Look below the TCS chart to see how –
After changing your normal chart from normal Candles to Heikin Ashi, you should be able to see the image as below –
In the Heikin Ashi chart you have to observe the following –
If you see a candle stick with a shadow on both the sides on EOD basis, it is safe to assume that the trend is about to change. In the above image check the back box and follow the black line.
After a downtrend the candle stick gave a shadow on both ends and then it gave an uptrend – signifying change in sentiment and trend.
Similarly, check the blue box. Once the uptrend was about to get over, a candle with shadows on both the sides appeared indicating a change in trend, implying the start of a downtrend.
Please Note – this chart is the safest to use on a daily, weekly and monthly basis. On an intraday basis, due to high volatility it might not show the true trend.