I am a complete beginner to this and have tried to utilise various codes for engulfing candles but can’t get the screener to do exactly what I want to do. I would be really grateful if someone could help me.
My criteria are as follows:
Price is above 200 period SMA
The 100SMA is above 200SMA
Bullish engulfing candle defined by candle BODY of current candle engulfing candle BODY of previous candle – i.e. a) candle close is higher than previous candle open or close (which ever is higher), and, b) candle open is lower than previous candle open or close (whichever is lower)
Strong candle close i.e short top wick – I am not sure how best to define this, maybe that the top wick is no more than say 15% of the total candle length?
I’ve kind of made some progress with this. I think I just need to amalgamate 2 pieces of code together which I’m not able to do. I’m sure this code looks horrible but as I said I am completely new to this!
Any help appreciated.
So I basically need help combining this code which I have cobbled together for conditions 1,2,3:
ENGULFING = 0
IF close > open AND close > open[1] AND open <close[1] AND close > close [1] AND open < open [1] AND ((close)> Average[200](close)) AND ((ExponentialAverage[50](close)) >= (Average[200](close))) THEN
ENGULFING = 1
endif
SCREENER[ENGULFING]
…with this Code for “short wicks” which I found on the forum (my condition 4):
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