3 candelestick pattern
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- This topic has 12 replies, 5 voices, and was last updated 1 month ago by
KumoNoJuzza.
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06/26/2024 at 4:19 PM #23437806/26/2024 at 4:26 PM #234382
It’s a 2-candle pattern then?
06/26/2024 at 4:31 PM #23438306/26/2024 at 4:55 PM #234387Bear candele closes below the opening of candel 1.
Candele 1 is an Up candele, candele 2 is an Up candele and then candele 3 closes below the opening of candel 1.=Bear
Bulle candele closes above te opening of candele 1.
Candele 1 is a down candele, candele 2 is down candele and then candele 3 close above te opening of candele 1.= Bull
06/26/2024 at 8:01 PM #234389Hi Ton,
You can try this one…
3 Candle Pattern123456789If Close[2]>Open[2] and Close[1]>Open[1] and Close<Open[2] thenBear=1Bull=0ElsIf Close[2]<Open[2] and Close[1]<Open[1] and Close>Open[2] thenBear=0Bull=1EndIfReturn Bull as "Bull" Coloured("Green"), Bear as "Bear" Coloured("Red")1 user thanked author for this post.
06/26/2024 at 8:24 PM #23439006/26/2024 at 8:41 PM #234391This one is with “arrows” when the condition is true…
(Load indicator on price)3 Candle Pattern123456789101112131415If Close[2]>Open[2] and Close[1]>Open[1] and Close<Open[2] thenBear=1Bull=0ElsIf Close[2]<Open[2] and Close[1]<Open[1] and Close>Open[2] thenBear=0Bull=1EndIfIf Bull=1 and Bear[1]=1 thenDrawArrowUP(BarIndex,Low)Coloured("Green")ElsIf Bear=1 and Bull[1]=1 thenDrawArrowDown(BarIndex,High)Coloured("Red")EndIfReturn //Bull as "Bull" Coloured("Green"), Bear as "Bear" Coloured("Red")3 users thanked author for this post.
06/27/2024 at 2:20 PM #23442806/27/2024 at 2:53 PM #23443407/09/2024 at 4:09 PM #234993Hi,
Thanks for the indicator. I am trying to use convert it to a strategy. A position is open at the next candle to the one showing the buy/sell signal. I would like to open the position once the arrow is drawn.
Any clue on how to do write it ?
Thanks
3 Candle pattern strategy12345678910111213141516171819// 3 Candle Pattern//StrategyIf Close[2]>Open[2] and Close[1]>Open[1] and Close<Open[2] thenBear=1Bull=0ElsIf Close[2]<Open[2] and Close[1]<Open[1] and Close>Open[2] thenBear=0Bull=1EndIf//Timeframe (1 mn)If Bull=1 and Bear[1]=1 thenbuy 0.5 contract at market//DrawArrowUP(BarIndex,Low)Coloured("Green")ElsIf Bear=1 and Bull[1]=1 thensellshort 0.5 contract at market//DrawArrowDown(BarIndex,High)Coloured("Red")EndIf07/09/2024 at 4:53 PM #234995Your strategy code is good, and the order can’t be executed faster than this…
The “Close” of the last bar is decisive so the fastest execution is on the “Open” of the next bar…
1 user thanked author for this post.
07/09/2024 at 5:31 PM #23499707/10/2024 at 7:29 PM #235031Building on the strategy, for each position, I want to set the stop loss at the open value of the previous candle as per the blue marks on the picture. I am sure there is an obvious way to code it but I cant get it right.
123456789101112131415161718192021222324// 3 Candle Pattern//StrategyIf Close[2]>Open[2] and Close[1]>Open[1] and Close<Open[2] thenBear=1Bull=0ElsIf Close[2]<Open[2] and Close[1]<Open[1] and Close>Open[2] thenBear=0Bull=1EndIf// Stop Loss ManagementIf onmarket THENset stop loss open[tradeindex[1]]ENDIF//Timeframe (1 mn)If Bull=1 and Bear[1]=1 thenbuy 0.5 contract at market//DrawArrowUP(BarIndex,Low)Coloured("Green")ElsIf Bear=1 and Bull[1]=1 thensellshort 0.5 contract at market//DrawArrowDown(BarIndex,High)Coloured("Red")EndIf -
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