Bearish engulfing

Bearish engulfing

Author: OKAS

Let’s see what a bearish engulfing is:
1. The previous candlestick must be a white one
2. The current candlestick must open upper the body of the previous candlestick
3. The current candlestick must close below the body of the previous candlestick

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  1. dmigliav • 10/20/2015 #

    Thanks a lot.
    Here the same code only for Bullish Engulfing:
    REM Compute the power of the bullish trend
    // Find the HIGHEST quote on the last 8 barsHighPoint = HIGHEST[8](LOW)
    // Compute the variation of price from this point to nowAdvance = OPEN- HighPoint
    // Compute the usual volatility of the stock (median of True Range)Norm = SUMMATION[3](TR) – HIGHEST[3](TR) – LOWEST[3](TR)
    REM Stock picking : only the Bullish engulfing
    Filter = OPEN[1] > CLOSE[1] AND CLOSE > OPEN[1] AND OPEN < CLOSE[1]
    REM We keep the most serious advancesSCREENER [ Filter ] (Advance / Norm AS”Trend Power”)

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