Registered User
Joined: 5/6/2005
Posts: 7
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Hi HemiK
I would like to know if there is an Pcf Formula
for candlesticks Formations Morning stars or Evening
Please help.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Here is the definition of a Morning Star:
A three day bullish reversal pattern consisting of three candlesticks. A large black body followed by a small body. The following candlestick is a white body that closes 50% or more into the black body.
Here is the definition of an Evening Star:
A three day bearish reversal pattern consisting of three candlesticks. A large white body followed by a small body. The following candlestick is a black body that closes 50% or less into the white body.
Here are the PCFs you need:
Body as % of avg Range 2days ago
ABS(C2-O2)/(AVGH21.2-AVGL21.2)*100
Body as % of avg Range yesterday
ABS(C1-O1)/(AVGH21.1-AVGL21.1)*100
Close as % of Open 2 days ago
C2/O2*100
Close as % of Open yesterday
C1/O1*100
Close as % of Open
C/O*100
Close as % of Body 2 days ago
C/((C2+O2)/2)*100
Once you create these you can add them all to an EasyScan. Set the values/ranks as follows
For Morning Star  for Evening Star  :
Body as % of avg Range 2days ago
and (you will have to play with this one to fit your definition of a 'large body' but start with a RANK of 80 to Max)
Body as % of avg Range yesterday
and (same as above. Start with a RANK of MIN to 20)
Close as % of Open 2 days ago
(VALUE MIN to 99.99)
(VALUE 100.01 to MAX)
Close as % of Open yesterday
(VALUE 100.01 to MAX)
(VALUE MIN to 99.99)
Close as % of Open
(VALUE 100.01 to MAX)
(VALUE MIN to 99.99)
Close as % of Body 2 days ago
(VALUE 100.01 to MAX)
(VALUE MIN to 99.99)
Here are some videos you might enjoy:
Using EasyScan to find stocks that meet your own criteria
How to create a Personal Criteria Forumula (PCF)
Use PCFs and EasyScan to find Bullish Engulfing Candlesticks
Scanning for Dojis followed by gaps with Candlestick PCFs
Scanning for Hammers with Candlestick PCFs
Scanning for "Spinning Top" Candlesticks
- Craig
Here to Help!
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