A simple Evening Star and Morning Star candlestick patterns Screener

Category: Screeners By: Francesco Created: January 20, 2017, 12:46 PM
January 20, 2017, 12:46 PM
Screeners
1 Comment

Here is a simple screener to find both Evening Star and Morning Star candlestick patterns.

The screener returns a signal named “Go”, which can be:

1 = Go long (Morning Star found)

-1 = Go Short (Evening Star found)

A variable named “BaseCandle” represents the first pattern candle from the right, so a search for past patterns can be done.

To the known 3 candles pattern, I added one more black candle to the Morning Star to check previous trend. In the same way, to the Evening Star I added one more white candle.

//Author: Francesco
//Date: 20-01-2017

//BaseCandle parameter = first candle of the pattern, starting from right (it is possible to run screener staring from any past candle)
BaseCandle = 0

Open0 = Open[BaseCandle]
Close0 = Close[BaseCandle]

Open1 = Open[BaseCandle + 1]
Close1 = Close[BaseCandle + 1]

Open2 = Open[BaseCandle + 2]
Close2 = Close[BaseCandle + 2]

Open3 = Open[BaseCandle + 3]
Close3 = Close[BaseCandle + 3]

//Evening Star
EvStar = Open0 > Close0 And Open0 < Close1 And Open1 > Close1 And Close1 > Close2 And Open2 < Close2 And Close2 > Close3 And Open3 < Close3

//Morning Star
MornStar = Open0 < Close0 And Open0 > Close1 And Open1 < Close1 And Close1 < Close2 And Open2 > Close2 And Close2 < Close3 And Open3 > Close3

//Go Short Signal = -1
If EvStar then
 Go = -1
endif

//Go Long Signal = 1
If MornStar then
 Go = 1
endif

Condition = (EvStar Or MornStar)

SCREENER[Condition] (Go AS "Go")

 

Download
Filename: Morning-Evening-star-screener.itf
Downloads: 623
Francesco Average
Currently debugging life, so my bio is on hold. Check back after the next commit for an update.
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