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Registered User
Joined: 3/12/2007
Posts: 10
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I want to create a rule(s) for a Bullish Engulfing pattern setup but I don't know how to write the code. The conditions are below:
1. The stock must be in a downtrend based on the last 20 days
2. First day of the pattern must be a black body (close < open)
3. Second day of the pattern must be a white body (close > open)
4. Second day's open must be lower than first day's close
5. Second day's close must be higher than first day's close
6. Volume on first day of the pattern must be above average (21 day)
7. Price must be below 7 day MA
8. First day of the pattern should have a large upper shadow
9. Second day of the pattern should have a large lower shadow.
Can you help me with this?
Thanks,
Gio
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Worden Trainer
Joined: 4/26/2007
Posts: 508
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giomorales,
If you're working with StockFinder, you have a Rule library. Click Add Rule (button in the bottom left of the price pane). Choose Select from the button's menu. Search for the Bullish Engulfing pattern and double-click once located to add it to the chart. You can then scan, filter, paint candlesticks, etc. with the rule.
If that rule doesn't work for you or you have questions about method, let us know.
Best,
Julia
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Registered User
Joined: 3/12/2007
Posts: 10
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Hi Julia,
I have used the the Bullish Engulfing pattern provided with StokFinder. This pattern covers the basic definition of Bullish Engulfing (items 2 through 5 above). However, I don't know how to include items 1 (downtrend where the highest value in the last five days is less than the lowest value over four weeks, starting three weeks ago). Also, how do I include items 6 through 9?
Thanks,
Gio
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Worden Trainer
Joined: 4/26/2007
Posts: 508
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gio-
Quick reply - I like it! I've shared a Layout called Bullish Engulfing +.
Search the Share library for it within the layout tab. I think it's what you're looking for. I have to say, the instances are few and far between, but the results on the charts I looked at were pretty good.
You can click the rule and select Edit RealCode to view the code and make any modifications.
Best,
Julia
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