Candlestick patterns & Bollinger Band

Screener that identifies 4 different candlestick patterns with an upper or lower bollinger band breakout.

These are the four candlestick patterns that the screener is able to identify: Bearish Engulfing, Bullish Engulfing, Dark Cloud Cover and Piercing Line.
For the bearish engulfing and the Dark Cloud Cover the end price of the first candle has to be higher than the upper band level. The start price of the second candle got to be higher than the upper bollinger band as well.
For bullish engulfing and piercing line it is the opposite, first candle close price is below the lower band and the start price of second candle is below the lower band.

(this screener were coded for a request addressed to ProRealTime) :

//bollinger
P=20 //period
S=2 // Standard deviation

BollingerMA = Average[p](close)
STDDEV=STD[P](close)

bollUP = BollingerMA + s * STDDEV
bollDOWN = BollingerMA - s * STDDEV

// Detection bearish engulfing
bearishengulfing = CLOSE[1] > OPEN[1] AND OPEN > CLOSE[1] AND CLOSE < OPEN[1]

// Detection bullish engulfing
BullishEngulfing= CLOSE[1] < OPEN[1] AND OPEN < CLOSE[1] AND CLOSE > OPEN[1]

// Detection dark cloud cover (bearish reversal)
darkcloudcover = CLOSE[1] < OPEN[1] AND OPEN < CLOSE[1] AND CLOSE > OPEN[1]

// Detection piercing
piercing = CLOSE[1]<OPEN[1] AND OPEN< CLOSE[1] AND CLOSE>(CLOSE[1]+(OPEN[1]-CLOSE[1])/2) AND CLOSE < OPEN[1]

priceoverupperband=close[1] > bollUP and open > BollUP
priceunderlowerband=close[1] < bollDOWN and open < bollDOWN

condition=((bearishengulfing or darkcloudcover) and priceoverupperband) or ((BullishEngulfing or piercing) and priceunderlowerband)

screener[condition]

//bollinger

P=20 //period

S=2 // Standard deviation

BollingerMA = Average[p](close)

STDDEV=STD[P](close)

bollUP = BollingerMA + s * STDDEV

bollDOWN = BollingerMA - s * STDDEV

// Detection bearish engulfing

bearishengulfing = CLOSE[1] > OPEN[1] AND OPEN > CLOSE[1] AND CLOSE < OPEN[1]

// Detection bullish engulfing

BullishEngulfing= CLOSE[1] < OPEN[1] AND OPEN < CLOSE[1] AND CLOSE > OPEN[1]

// Detection dark cloud cover (bearish reversal)

darkcloudcover = CLOSE[1] < OPEN[1] AND OPEN < CLOSE[1] AND CLOSE > OPEN[1]

// Detection piercing

piercing = CLOSE[1]<OPEN[1] AND OPEN< CLOSE[1] AND CLOSE>(CLOSE[1]+(OPEN[1]-CLOSE[1])/2) AND CLOSE < OPEN[1]

priceoverupperband=close[1] > bollUP and open > BollUP

priceunderlowerband=close[1] < bollDOWN and open < bollDOWN

condition=((bearishengulfing or darkcloudcover) and priceoverupperband) or ((BullishEngulfing or piercing) and priceunderlowerband)

screener[condition]

bollinger engulfing

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 :

Filename : download the ITF files

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