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Registered User
Joined: 9/30/2011
Posts: 788
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I would like to have a PCF Formula Hanging Man Pattern.
Formula reference:
https://backtestwizard.com/amibroker-afl-hanging-man-pattern/
Thank you and goodbye.
Raider45
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Please try the following condition formula.
H - GREATEST(O, C) < (H - L) / 10 AND LEAST(O, C) - L > ABS(O - C) * 2 AND H1 > MAXH5.2
-Bruce
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Registered User
Joined: 9/30/2011
Posts: 788
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Does the tool generate up and down signals, would it be possible to modify it for only to generate down signals?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The formula only generates signals where the body is in the top half the candle and the previous bar was a new high. I don't know if you would see if this a generating an up or a down signal, but it doesn't seem like it would be both (it seems to me like it would be one or the other).
It exactly replicates the formula given on the referenced webpage.
-Bruce
Personal Criteria Formulas
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Registered User
Joined: 9/30/2011
Posts: 788
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Regardless of the reference formula, the goal is to generate only Bearish signals !
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I don't know if you consider the signals generated bearish or bullish. Interpretation is something I actually can't get into.
If however you want the formula reversed, it could be written as follows (but wouldn't be a hanging man anymore).
LEAST(O, C) - L < (H - L) / 10 AND H - GREATEST(O, C) > ABS(O - C) * 2 AND L1 < MINL5.2
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/30/2011
Posts: 788
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OK, thanks !
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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