Morning Star rules not respected
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I changed it a bit:
1234567891011121314151617181920212223242526272829303132333435363738394041offset1 = 50 * pipsizeoffset2 = offset1 * 4body=close-openabody=abs(body)if range>0 thenratio=abody/rangeelseratio=0endiflongcandle= (ratio>0.5) //0.7//MorningStar = 0signal = 0//if MorningStar then//signal = 5//endif//text color// white = 255,255,255 ; black = 0,0,0r = 255g = 51b = 51//Orig//e1 = close[2] < open[2] // red candle//e2 = open[1] < close[2] and close[1] < close[2] and low[1] < close[2] // candle entirely below predecessor's body//e3 = close[0] > open[0] and open[0] > open[1] and high[0] > low[1] // green candle with a gap//e4 = range[1] > (range[2] / 2 ) and close[0] > (open[2] - close[2]/2) // morning star's range is small compared to preceding candlee1 = body[2]<0 and body>0 and longcandle[2] // red candlee2 = open[1]<close[2] and low[1]<low[2] and low[1]<low[0] and high[1]<open[2] and high[1]<close[0] and abody[1]<abody[2] and abody[1]<abody[0] // small candle entirely below predecessor's bodye3 = open[0]>close[1] and ratio[1]<0.5 and close[0] > open[2]//(open[2] - close[2]/1.5)//green candle with a gapif e1 and e2 and e3 then//MorningStar = 1//endif//if MorningStar = 1 thensignal = 1//endif//if e1 and e2 and e3 thenDRAWTEXT("Morning Star", barindex,low-offset2, Dialog, Standard, 14) COLOURED(R,G,B)DRAWARROWUP(barindex,low-offset1) COLOURED(0,155,10)endifif signal thenendifReturn// signalI used it on the price chart, not below.
The second and third last lines are intended to use the variable SIGNAL only (dummy lines).
As you can see I commented out many unnecessary lines and modified line 28 (your line 35).
I also addet the first two line to set offset values to plot at a distance from the candles.
I also changed line 6 (your line 2).
Few patterns were found, but this may depend on settings. The pattern recognition seems to work.
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Line 10 (my version’s) deals with the size of the body, but not with the size of the range. A big body is only evaluated with reference to its range, if it’s a candle having a small range, then its body will be even smaller!
You must define a way to translate into code what you would do when sitting in front of your PC; when you watch your charts, when do you say “this candle is big enough”:
- when it has a big range, regardless of its body size?
- when it has a big body, regardless of its range?
then code then accordingly. You might use averages to compute the average (body or range) size of the last, say 50, candle and consider a candle as being a big one if it exceeds that average.
Example 1 (body size average):
123Body = abs(close - open) //definition of bodyBodySize = average[50,0](Body) //average of the body size of the last 50 candlesMyCond = Body > BodySize //MyCond is true id the size exceeds the average oneExample 2 (body size in relation to the average range size):
123Body = abs(close - open) //definition of bodyRangeSize = average[50,0](range) //average of the range size of the last 50 candlesMyCond = Body > (RangeSize * 0.7) //MyCond is true if the size exceeds a percentage of the average RangeSize1 user thanked author for this post.
You could replace line 5 with:
1e1 = close[2] < open[2] AND LongCandle // red candlebut if you think LongCandle is too much for the second previous candle, then you can define a smaller LongCandle and use both definitions (with different names):
12345678Body = abs(close – open) //definition of bodyRangeSize = average[50,0](range) //average of the range size of the last 50 candlesLongCandle = Body > (RangeSize * 0.9) //LongCandle is true if the size exceeds a percentage of the average RangeSizeLongCandle2 = Body > (RangeSize * 0.5) //LongCandle is true if the size exceeds a percentage of the average RangeSizee1 = close[2] < open[2] AND LongCandle2 // red candlee2 = open[1] < close[2] and close[1] < close[2] and low[1] < close[2] // candle entirely below predecessor’s bodye3 = close[0] > open[0] and open[0] > open[1] and low[0] < high[1] and LongCandle // green candle with a gap //and ratio[0]>0.3e4 = range[1] < (range[2] / 2 ) // morning star’s range is small compared to preceding candle1 user thanked author for this post.
There’s no requirement for the long black candle, it just needs to be long.
It’s up to anyone one defining how long enough is LONG.
If you think an average does not help, you can replace it with the sum of the previous 2-3 candles’range or maybe the previous one multiplied by some factor.
Look at your chart and when you see a candle and think “this is not a dwarf”, well… code exactly what your eyes see.
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The more rules you add, the less clear and uncertain your definition will be!
There are a million candlestick combinations around, you cannot follow any DWARF candle your eyes see and get rid of it…. you’ll need a million rules!
Have ONE rule, you’ll get rid of, say 67-75 %, of dwarfs; still, you’ll have have some left. It’s like a strategy, no strategy will EVER have a 100% winning rate!
Few simple rules, few simple lines of code, few indicators, few… everything will prove to be more winning than anything else.
In the second last pic you attached you can read “ignore the shadows in this candlestick pattern“. DO stick to this rule.
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