Registered User
Joined: 9/2/2008
Posts: 8
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Hello,
Can someone help me with a formula for the following canclestick pattern. Are the below possible and for 5 min and 10 min charts:
1. 3 consecutive down candles (at least 3) and then the current or last bar (preferrably current) is an up bar (green candle).
2. The opposite of the above: 3 consecutive up candles and then the next candle is a down bar.
3. If I wanted to add (to #1 above) that the stock price had to be down by for example 3% from open or high of day is that possible. (vice versa for #2, stock up 3% from open or low of day.)
Any help would be appreciated.
Thanks
Jay
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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If your up and down candles are comparing the close to the previous close, then a formula for at least three down candles followed by an up candle would be:
C > C1 AND C1 < C2 AND C2 < C3 AND C3 < C4
And a formula for at least three up candles followed by a down candle would be:
C < C1 AND C1 > C2 AND C2 > C3 AND C3 > C4
Adding a requirement that the stock be at least 3% up or down from the high or low of that day would result in the following formula for at least three down candles followed by an up candle:
C > C1 AND C >= 1.03 * L AND C1 < C2 AND C1 <= .97 * H1 AND C2 < C3 AND C2 <= .97 * H2 AND C3 < C4 AND C3 <= .97 * H3
And the following formula for at least three up candles followed by a down candle:
C < C1 AND C <= .97 * H AND C1 > C2 AND C1 >= 1.03 * L1 AND C2 > C3 AND C2 >= 1.03 * L2 AND C3 > C4 AND C3 >= 1.03 * L3
If your up and down candles are comparing the close to the open, then a formula for at least three down candles followed by an up candle would be:
C > O AND C1 < O1 AND C2 < O2 AND C3 < O3
And a formula for at least three up candles followed by a down candle would be:
C < O AND C1 > O1 AND C2 > O2 AND C3 > O3
Adding a requirement that the stock be at least 3% up or down from the high or low of that day would result in the following formula for at least three down candles followed by an up candle:
C > O AND C >= 1.03 * L AND C1 < O1 AND C1 <= .97 * H1 AND C2 < O2 AND C2 <= .97 * H2 AND C3 < O3 AND C3 <= .97 * H3
And the following formula for at least three up candles followed by a down candle:
C < O AND C <= .97 * H AND C1 > O1 AND C1 >= 1.03 * L1 AND C2 > O2 AND C2 >= 1.03 * L2 AND C3 > O3 AND C3 >= 1.03 * L3
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