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Bruce_L
Posted : Thursday, September 28, 2017 1:23:59 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

A Long White Candle is first off a White Candle which opens below the close.

O < C

A Long White Candle is also a Long Candle. The following formula checks for the body to be more than 50% longer than the mean body size over the most recent 15 candles. It can use C - O instead of ABS(O - C) at the beginning of the formula because we know O < C.

C - O > 3 * AVG(ABS(O - C), 15) / 2

That is actually the final formula because if it is true, then O < C also has to be true.

Boolean PCFs for Candlestick Patterns



-Bruce
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