Railroad Track Pattern Screener?

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07/18/2024 at 4:49 PM #235484 quote

IAmShareCrazy
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New

Is it possible to screen for two candlesticks of near equal size that are either bullish/bearish or bearish bullish that have broken the Bollinger bands? A recent example from the S & P 500 attached. Many thanks.

Screenshot_20240718-163404.png

07/18/2024 at 8:00 PM #235491 quote
JS
Participant

Master
Hi,

Try this…

You can set the percentage difference in body and price (currently max. 2%)
```
Once PercBodyDiff=2//Max.2% body difference
Once PercPriceDiff=2//Max.2% price difference

c1=Open[1]<BollingerUp[20][1] and Close[1]>BollingerUp[20][1]//Bullish
c2=Open>BollingerUp[20] and Close<BollingerUp[20]//Bearish
c3=Open[1]>BollingerDown[20][1] and Close[1]<BollingerDown[20][1]//Bearish
c4=Open<BollingerDown[20] and Close>BollingerDown[20]//Bullish

BodySize0=Abs(Close-Open)
BodySize1=Abs(Close[1]-Open[1])

c5=Abs((BodySize1-BodySize0)/BodySize1)*100<PercBodyDiff
c6=Abs((Open-Close[1])/Close[1])*100<PercPriceDiff

Screener[(c1 and c2 and c5 and c6) or (c3 and c4 and c5 and c6)]
```
Iván González thanked this post

Schermafbeelding-2024-07-18-om-20.56.57.png Schermafbeelding-2024-07-18-om-20.57.27.png
07/18/2024 at 8:18 PM #235494 quote

IAmShareCrazy
Participant

New

Thank you. That’s very helpful and seems to be working well on the S & P 500 right now. How to turn that code into bearish? How to add a gap up or down say in the last 7 days after the pattern appears?

07/18/2024 at 8:42 PM #235497 quote

JS
Participant

Master

The screener is for both bullish and bearish…

07/18/2024 at 9:14 PM #235498 quote

JS
Participant

Master

Your added question about the “gap” and having the “train track” pattern play in the past will change the whole screener…
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