Bullish Candle

Bullish Candle

Author: Handlep

This screener will find candlesticks with a real body of one third or less the size of the overall candle, following a decline. Therefore it will detect Hangmen, Hammers, inverted Hammers, Spinning Tops, Dojis, etc.

I have used ProRealTime’s Bullish Engulfing code to detect the decline.

Note: Rather than write several screeners to detect the individual candle types, this screener is relatively generic, so will throw up candles which do not necessarily imply a reversal – for example, the main body may not be close enough to the end of the candle to be a true hammer or hanman, and not close enough to the centre to be a spinning top. Obviously any such detections should be discarded.

Good luck in your trading.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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