Railroad Track Pattern Screener?

• 07/18/2024 at 4:49 PM #235484
  IAmShareCrazy

  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.

  

  IAmShareCrazy

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

  Hi,

  Try this…

  You can set the percentage difference in body and price (currently max. 2%)

   

  Railroad Track Pattern

  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)]

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  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)]

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  Iván

  

  JS

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  07/18/2024 at 8:18 PM #235494
  IAmShareCrazy

  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?

  

  IAmShareCrazy

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

  The screener is for both bullish and bearish…

  

  JS

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

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

  

  JS

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