Hi there, I'd like to know how to do a scan, to find engulfing candles on the daily time frame.  Long and short. 

Is this possible?  I normally just scan manually, but its quite time intensive.

Thanks!

Bill

This topic has formulas for the most popular candle patterns. Boolean PCFs for Candlestick Patterns

Bullish Engulfing

(O1>C1) AND (C-O)>=.7*(H-L) AND (C>O1) AND (O<C1) AND (H-L)>=1.2*(AVGH10-AVGL10)
 

Bearish Engulfing

(C1>O1) AND (O-C)>=.7*(H-L) AND (C<O1) AND (O>C1) AND (H-L)>=1.2*(AVGH10-AVGL10)

My answer is going to use the following definition for an Engulfing Candlestick. The high of the previous candle much be lower than the top of the body of the current candle and the low of the previous candle must be higher than the bottom of the body of the current candle. There are both stricter and more lenient definitions.

(C < L1 AND H1 < O) OR (O < L1 AND H1 < C)

The definitions given in the following topic are different and incorporate other requirements frequently associated with either a bullish or bearish engulfing pattern (my formula does not make a distinction).

Boolean PCFs for Candlestick Patterns

If you have a specific definition in mind, additional clarification from you should allow us to come up with something which better suits your particular needs.

Thanks Bruce, 

That looks great, but I'm a new customer to TC2000.  Where do I type this information into?

You are going to be creating this as a Condition Formula.

How to create and save a Condition (PCF) Formula
How to access your Boolean (True/False) Conditions
Building a Scan with Multiple Conditions (7:29)

Hi Bruce, thanks for getting back to me. The first two links didnt work, can you resend them?

The third link  works, so I understand building a scan from the charts and conditions, I just need to know how to build a custom scan where I can type in anything I want.

Thanks again!

Bill

The instructions in the links are a bit more step by step than this and include pictures, but the idea is pretty straightforward.

Select New | New Condition (PCF) Formula from the menus. Give the formula a name, set the time frame as desired (Daily in this case), paste the formula int the big box (you might have to use ctrl-v) and select OK.

Once the Condition Formula is available, you can add it to an EasyScan by choosing it after selecting Add Condition in the Edit tab of the EasyScan.

What happens when you click on the links? Are you getting an error of some sort? What browser are you using?

The links are working when I click them.