The main idea of this strategy is to detect multiple common candlestick patterns simultaneously, including hammer, morning star and [10] other patterns. When these patterns are detected, it is judged as a price reversal signal to make corresponding buy or sell operations.
The main principles of this strategy are:
Use candlestick patterns to judge price trends and key reversal points. Candlestick charts can clearly display the open, close, highest and lowest prices, from which many important price patterns can be identified to judge price trends and key reversal points.
Judge multiple candlestick patterns simultaneously. Any single candlestick pattern may have misjudgements, so this strategy comprehensively judges more than 10 patterns including morning star, evening star, etc. to improve judgement accuracy.
Determine long and short directions based on pattern types. After identifying different candlestick patterns, corresponding long or short signals are generated according to their bullish or bearish implications.
Specifically, this strategy mainly runs according to the following process:
Input parameters: First input some parameters to judge candlestick patterns, such as threshold values for the size of the real body and shadow.
Trend judgement: Calculate the SMAs of different cycles to judge whether the overall price is in an upward or downward trend, which is very important for interpreting the meaning of candlestick patterns.
Candlestick pattern scanning: Scan the data to determine whether bullish patterns (such as morning star, hammer, etc.) or bearish patterns (such as evening star, hanging man, etc.) appear.
Trading signals: When bullish patterns appear, long signals are generated; when bearish patterns appear, short signals are generated.
Position management: Set stop loss position to control risks.
The main advantages of this strategy are:
Accurately judge key price points using candlestick patterns;
Improve judgment accuracy and reduce misjudgements by combining multiple candlestick patterns;
Automatically scan patterns and quickly capture trading opportunities;
Convenient to optimize parameters to improve profitability.
There are also some risks with this strategy:
There are misjudgement risks with single candlestick patterns, requiring combination judgements to reduce;
Extreme market volatility that causes huge losses cannot be completely avoided;
Input parameters need to be optimized for the best trading results.
The countermeasures are:
Use combined judgements of multiple candlestick patterns to reduce misjudgement probability;
Set stop loss position to strictly control the size of single losses;
Test impacts of different parameters on trading results comprehensively, and optimize parameters to reduce losses and increase returns.
The main optimization directions for this strategy are:
Increase or reduce the types of candlestick patterns to judge. Patterns that have more misjudgements can be removed while patterns that are newly added and perform well can be kept.
Optimize the threshold values of candlestick pattern parameters. Test modifying the parameters for real body and shadow to find the optimal judgement threshold values.
Optimize stop loss position. Test different stop loss positions to find the optimal point that maximally reduces single losses.
Test different indicators to judge price trends, such as SMA, EMA etc.
Add parameter combination optimization functions. Build parameter space to automatically test trading results under different parameter combinations.
Through the above optimization directions, the trading performance of the strategy can be continuously improved.
This strategy comprehensively judges multiple candlestick patterns, automatically scans price data, utilizes different patterns to judge price trends and key reversal points, and makes profits via long and short operations. It reacts sensitively and can quickly capture trading opportunities with high degree of automation. Easy to use, it is an efficient quantitative trading strategy.
This strategy can be further enhanced by adjusting determination patterns and parameters, optimizing stop loss points and improving trend determination indicators. It is an effective quantitative strategy worth continuous modifications and long term usage.
/*backtest start: 2023-11-14 00:00:00 end: 2023-12-14 00:00:00 period: 1h basePeriod: 15m exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}] */ //@version=4 strategy(shorttitle="All Candlestick Patterns Strategy", title="All Candlestick Patterns Strategy", overlay=true, initial_capital=600) //custom script stopLoss = input(0.015, minval=0.0001, step=0.0025, title="Stop Loss"), var _tradeDirection = "" if (strategy.position_size != 0) _tradeDirection := "" //custom script end C_DownTrend = true C_UpTrend = true var trendRule1 = "SMA50" var trendRule2 = "SMA50, SMA200" var trendRule = input(trendRule1, "Detect Trend Based On", options=[trendRule1, trendRule2, "No detection"]) if trendRule == trendRule1 priceAvg = sma(close, 50) C_DownTrend := close < priceAvg C_UpTrend := close > priceAvg if trendRule == trendRule2 sma200 = sma(close, 200) sma50 = sma(close, 50) C_DownTrend := close < sma50 and sma50 < sma200 C_UpTrend := close > sma50 and sma50 > sma200 C_Len = 14 // ema depth for bodyAvg C_ShadowPercent = 5.0 // size of shadows C_ShadowEqualsPercent = 100.0 C_DojiBodyPercent = 5.0 C_Factor = 2.0 // shows the number of times the shadow dominates the candlestick body C_BodyHi = max(close, open) C_BodyLo = min(close, open) C_Body = C_BodyHi - C_BodyLo C_BodyAvg = ema(C_Body, C_Len) C_SmallBody = C_Body < C_BodyAvg C_LongBody = C_Body > C_BodyAvg C_UpShadow = high - C_BodyHi C_DnShadow = C_BodyLo - low C_HasUpShadow = C_UpShadow > C_ShadowPercent / 100 * C_Body C_HasDnShadow = C_DnShadow > C_ShadowPercent / 100 * C_Body C_WhiteBody = open < close C_BlackBody = open > close C_Range = high-low C_IsInsideBar = C_BodyHi[1] > C_BodyHi and C_BodyLo[1] < C_BodyLo C_BodyMiddle = C_Body / 2 + C_BodyLo C_ShadowEquals = C_UpShadow == C_DnShadow or (abs(C_UpShadow - C_DnShadow) / C_DnShadow * 100) < C_ShadowEqualsPercent and (abs(C_DnShadow - C_UpShadow) / C_UpShadow * 100) < C_ShadowEqualsPercent C_IsDojiBody = C_Range > 0 and C_Body <= C_Range * C_DojiBodyPercent / 100 C_Doji = C_IsDojiBody and C_ShadowEquals CandleType = input(title = "Pattern Type", defval="Both", options=["Bullish", "Bearish", "Both"]) patternLabelPosLow = low - (atr(30) * 0.6) patternLabelPosHigh = high + (atr(30) * 0.6) AbandonedBabyInput = input(title = "Abandoned Baby" ,defval=true) DarkCloudCoverInput = input(title = "Dark Cloud Cover" ,defval=true) DojiInput = input(title = "Doji" ,defval=true) DojiStarInput = input(title = "Doji Star" ,defval=true) DownsideTasukiGapInput = input(title = "Downside Tasuki Gap" ,defval=true) DragonflyDojiInput = input(title = "Dragonfly Doji" ,defval=true) EngulfingInput = input(title = "Engulfing" ,defval=true) EveningDojiStarInput = input(title = "Evening Doji Star" ,defval=true) EveningStarInput = input(title = "Evening Star" ,defval=true) FallingThreeMethodsInput = input(title = "Falling Three Methods" ,defval=true) FallingWindowInput = input(title = "Falling Window" ,defval=true) GravestoneDojiInput = input(title = "Gravestone Doji" ,defval=true) HammerInput = input(title = "Hammer" ,defval=true) HangingManInput = input(title = "Hanging Man" ,defval=true) HaramiCrossInput = input(title = "Harami Cross" ,defval=true) HaramiInput = input(title = "Harami" ,defval=true) InvertedHammerInput = input(title = "Inverted Hammer" ,defval=true) KickingInput = input(title = "Kicking" ,defval=true) LongLowerShadowInput = input(title = "Long Lower Shadow" ,defval=false) LongUpperShadowInput = input(title = "Long Upper Shadow" ,defval=false) MarubozuBlackInput = input(title = "Marubozu Black" ,defval=true) MarubozuWhiteInput = input(title = "Marubozu White" ,defval=true) MorningDojiStarInput = input(title = "Morning Doji Star" ,defval=true) MorningStarInput = input(title = "Morning Star" ,defval=true) OnNeckInput = input(title = "On Neck" ,defval=true) PiercingInput = input(title = "Piercing" ,defval=true) RisingThreeMethodsInput = input(title = "Rising Three Methods" ,defval=true) RisingWindowInput = input(title = "Rising Window" ,defval=true) ShootingStarInput = input(title = "Shooting Star" ,defval=true) SpinningTopBlackInput = input(title = "Spinning Top Black" ,defval=false) SpinningTopWhiteInput = input(title = "Spinning Top White" ,defval=false) ThreeBlackCrowsInput = input(title = "Three Black Crows" ,defval=true) ThreeWhiteSoldiersInput = input(title = "Three White Soldiers" ,defval=true) TriStarInput = input(title = "Tri-Star" ,defval=true) TweezerBottomInput = input(title = "Tweezer Bottom" ,defval=true) TweezerTopInput = input(title = "Tweezer Top" ,defval=true) UpsideTasukiGapInput = input(title = "Upside Tasuki Gap" ,defval=true) C_OnNeckBearishNumberOfCandles = 2 C_OnNeckBearish = false if C_DownTrend and C_BlackBody[1] and C_LongBody[1] and C_WhiteBody and open < close[1] and C_SmallBody and C_Range!=0 and abs(close-low[1])<=C_BodyAvg*0.05 C_OnNeckBearish := true if C_OnNeckBearish and OnNeckInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishOnNeck = "On Neck\nOn Neck is a two-line continuation pattern found in a downtrend. The first candle is long and red, the second candle is short and has a green body. The closing price of the second candle is close or equal to the first candle's low price. The pattern hints at a continuation of a downtrend, and penetrating the low of the green candlestick is sometimes considered a confirmation. " label.new(bar_index, patternLabelPosHigh, text="ON", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishOnNeck) C_RisingWindowBullishNumberOfCandles = 2 C_RisingWindowBullish = false if C_UpTrend[1] and (C_Range!=0 and C_Range[1]!=0) and low > high[1] C_RisingWindowBullish := true if C_RisingWindowBullish and RisingWindowInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishRisingWindow = "Rising Window\nRising Window is a two-candle bullish continuation pattern that forms during an uptrend. Both candles in the pattern can be of any type with the exception of the Four-Price Doji. The most important characteristic of the pattern is a price gap between the first candle's high and the second candle's low. That gap (window) between two bars signifies support against the selling pressure." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="RW", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishRisingWindow) C_FallingWindowBearishNumberOfCandles = 2 C_FallingWindowBearish = false if C_DownTrend[1] and (C_Range!=0 and C_Range[1]!=0) and high < low[1] C_FallingWindowBearish := true if C_FallingWindowBearish and FallingWindowInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishFallingWindow = "Falling Window\nFalling Window is a two-candle bearish continuation pattern that forms during a downtrend. Both candles in the pattern can be of any type, with the exception of the Four-Price Doji. The most important characteristic of the pattern is a price gap between the first candle's low and the second candle's high. The existence of this gap (window) means that the bearish trend is expected to continue." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="FW", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishFallingWindow) C_FallingThreeMethodsBearishNumberOfCandles = 5 C_FallingThreeMethodsBearish = false if C_DownTrend[4] and (C_LongBody[4] and C_BlackBody[4]) and (C_SmallBody[3] and C_WhiteBody[3] and open[3]>low[4] and close[3]<high[4]) and (C_SmallBody[2] and C_WhiteBody[2] and open[2]>low[4] and close[2]<high[4]) and (C_SmallBody[1] and C_WhiteBody[1] and open[1]>low[4] and close[1]<high[4]) and (C_LongBody and C_BlackBody and close<close[4]) C_FallingThreeMethodsBearish := true if C_FallingThreeMethodsBearish and FallingThreeMethodsInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishFallingThreeMethods = "Falling Three Methods\nFalling Three Methods is a five-candle bearish pattern that signifies a continuation of an existing downtrend. The first candle is long and red, followed by three short green candles with bodies inside the range of the first candle. The last candle is also red and long and it closes below the close of the first candle. This decisive fifth strongly bearish candle hints that bulls could not reverse the prior downtrend and that bears have regained control of the market." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="FTM", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishFallingThreeMethods) C_RisingThreeMethodsBullishNumberOfCandles = 5 C_RisingThreeMethodsBullish = false if C_UpTrend[4] and (C_LongBody[4] and C_WhiteBody[4]) and (C_SmallBody[3] and C_BlackBody[3] and open[3]<high[4] and close[3]>low[4]) and (C_SmallBody[2] and C_BlackBody[2] and open[2]<high[4] and close[2]>low[4]) and (C_SmallBody[1] and C_BlackBody[1] and open[1]<high[4] and close[1]>low[4]) and (C_LongBody and C_WhiteBody and close>close[4]) C_RisingThreeMethodsBullish := true if C_RisingThreeMethodsBullish and RisingThreeMethodsInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishRisingThreeMethods = "Rising Three Methods\nRising Three Methods is a five-candle bullish pattern that signifies a continuation of an existing uptrend. The first candle is long and green, followed by three short red candles with bodies inside the range of the first candle. The last candle is also green and long and it closes above the close of the first candle. This decisive fifth strongly bullish candle hints that bears could not reverse the prior uptrend and that bulls have regained control of the market." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="RTM", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishRisingThreeMethods) C_TweezerTopBearishNumberOfCandles = 2 C_TweezerTopBearish = false if C_UpTrend[1] and (not C_IsDojiBody or (C_HasUpShadow and C_HasDnShadow)) and abs(high-high[1]) <= C_BodyAvg*0.05 and C_WhiteBody[1] and C_BlackBody and C_LongBody[1] C_TweezerTopBearish := true if C_TweezerTopBearish and TweezerTopInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishTweezerTop = "Tweezer Top\nTweezer Top is a two-candle pattern that signifies a potential bearish reversal. The pattern is found during an uptrend. The first candle is long and green, the second candle is red, and its high is nearly identical to the high of the previous candle. The virtually identical highs, together with the inverted directions, hint that bears might be taking over the market." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="TT", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishTweezerTop) C_TweezerBottomBullishNumberOfCandles = 2 C_TweezerBottomBullish = false if C_UpTrend[1] and (not C_IsDojiBody or (C_HasUpShadow and C_HasDnShadow)) and abs(low-low[1]) <= C_BodyAvg*0.05 and C_BlackBody[1] and C_WhiteBody and C_LongBody[1] C_TweezerBottomBullish := true if C_TweezerBottomBullish and TweezerBottomInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishTweezerBottom = "Tweezer Bottom\nTweezer Bottom is a two-candle pattern that signifies a potential bullish reversal. The pattern is found during a downtrend. The first candle is long and red, the second candle is green, its lows nearly identical to the low of the previous candle. The virtually identical lows together with the inverted directions hint that bulls might be taking over the market." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="TB", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishTweezerBottom) C_DarkCloudCoverBearishNumberOfCandles = 2 C_DarkCloudCoverBearish = false if (C_UpTrend[1] and C_WhiteBody[1] and C_LongBody[1]) and (C_BlackBody and open >= high[1] and close < C_BodyMiddle[1] and close > open[1]) C_DarkCloudCoverBearish := true if C_DarkCloudCoverBearish and DarkCloudCoverInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishDarkCloudCover = "Dark Cloud Cover\nDark Cloud Cover is a two-candle bearish reversal candlestick pattern found in an uptrend. The first candle is green and has a larger than average body. The second candle is red and opens above the high of the prior candle, creating a gap, and then closes below the midpoint of the first candle. The pattern shows a possible shift in the momentum from the upside to the downside, indicating that a reversal might happen soon." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosHigh, text="DCC", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishDarkCloudCover) C_DownsideTasukiGapBearishNumberOfCandles = 3 C_DownsideTasukiGapBearish = false if C_LongBody[2] and C_SmallBody[1] and C_DownTrend and C_BlackBody[2] and C_BodyHi[1] < C_BodyLo[2] and C_BlackBody[1] and C_WhiteBody and C_BodyHi <= C_BodyLo[2] and C_BodyHi >= C_BodyHi[1] C_DownsideTasukiGapBearish := true if C_DownsideTasukiGapBearish and DownsideTasukiGapInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishDownsideTasukiGap = "Downside Tasuki Gap\nDownside Tasuki Gap is a three-candle pattern found in a downtrend that usually hints at the continuation of the downtrend. The first candle is long and red, followed by a smaller red candle with its opening price that gaps below the body of the previous candle. The third candle is green and it closes inside the gap created by the first two candles, unable to close it fully. The bull’s inability to close that gap hints that the downtrend might continue." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="DTG", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishDownsideTasukiGap) C_UpsideTasukiGapBullishNumberOfCandles = 3 C_UpsideTasukiGapBullish = false if C_LongBody[2] and C_SmallBody[1] and C_UpTrend and C_WhiteBody[2] and C_BodyLo[1] > C_BodyHi[2] and C_WhiteBody[1] and C_BlackBody and C_BodyLo >= C_BodyHi[2] and C_BodyLo <= C_BodyLo[1] C_UpsideTasukiGapBullish := true if C_UpsideTasukiGapBullish and UpsideTasukiGapInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishUpsideTasukiGap = "Upside Tasuki Gap\nUpside Tasuki Gap is a three-candle pattern found in an uptrend that usually hints at the continuation of the uptrend. The first candle is long and green, followed by a smaller green candle with its opening price that gaps above the body of the previous candle. The third candle is red and it closes inside the gap created by the first two candles, unable to close it fully. The bear’s inability to close the gap hints that the uptrend might continue." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="UTG", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishUpsideTasukiGap) C_EveningDojiStarBearishNumberOfCandles = 3 C_EveningDojiStarBearish = false if C_LongBody[2] and C_IsDojiBody[1] and C_LongBody and C_UpTrend and C_WhiteBody[2] and C_BodyLo[1] > C_BodyHi[2] and C_BlackBody and C_BodyLo <= C_BodyMiddle[2] and C_BodyLo > C_BodyLo[2] and C_BodyLo[1] > C_BodyHi C_EveningDojiStarBearish := true if C_EveningDojiStarBearish and EveningDojiStarInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishEveningDojiStar = "Evening Doji Star\nThis candlestick pattern is a variation of the Evening Star pattern. It is bearish and continues an uptrend with a long-bodied, green candle day. It is then followed by a gap and a Doji candle and concludes with a downward close. The close would be below the first day’s midpoint. It is more bearish than the regular evening star pattern because of the existence of the Doji." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="EDS", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishEveningDojiStar) C_DojiStarBearishNumberOfCandles = 2 C_DojiStarBearish = false if C_UpTrend and C_WhiteBody[1] and C_LongBody[1] and C_IsDojiBody and C_BodyLo > C_BodyHi[1] C_DojiStarBearish := true if C_DojiStarBearish and DojiStarInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishDojiStar = "Doji Star\nThis is a bearish reversal candlestick pattern that is found in an uptrend and consists of two candles. First comes a long green candle, followed by a Doji candle (except 4-Price Doji) that opens above the body of the first one, creating a gap. It is considered a reversal signal with confirmation during the next trading day." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="DS", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishDojiStar) C_DojiStarBullishNumberOfCandles = 2 C_DojiStarBullish = false if C_DownTrend and C_BlackBody[1] and C_LongBody[1] and C_IsDojiBody and C_BodyHi < C_BodyLo[1] C_DojiStarBullish := true if C_DojiStarBullish and DojiStarInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishDojiStar = "Doji Star\nThis is a bullish reversal candlestick pattern that is found in a downtrend and consists of two candles. First comes a long red candle, followed by a Doji candle (except 4-Price Doji) that opens below the body of the first one, creating a gap. It is considered a reversal signal with confirmation during the next trading day." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="DS", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishDojiStar) C_MorningDojiStarBullishNumberOfCandles = 3 C_MorningDojiStarBullish = false if C_LongBody[2] and C_IsDojiBody[1] and C_LongBody and C_DownTrend and C_BlackBody[2] and C_BodyHi[1] < C_BodyLo[2] and C_WhiteBody and C_BodyHi >= C_BodyMiddle[2] and C_BodyHi < C_BodyHi[2] and C_BodyHi[1] < C_BodyLo C_MorningDojiStarBullish := true if C_MorningDojiStarBullish and MorningDojiStarInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishMorningDojiStar = "Morning Doji Star\nThis candlestick pattern is a variation of the Morning Star pattern. A three-day bullish reversal pattern, which consists of three candlesticks will look something like this: The first being a long-bodied red candle that extends the current downtrend. Next comes a Doji that gaps down on the open. After that comes a long-bodied green candle, which gaps up on the open and closes above the midpoint of the body of the first day. It is more bullish than the regular morning star pattern because of the existence of the Doji." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="MDS", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishMorningDojiStar) C_PiercingBullishNumberOfCandles = 2 C_PiercingBullish = false if (C_DownTrend[1] and C_BlackBody[1] and C_LongBody[1]) and (C_WhiteBody and open <= low[1] and close > C_BodyMiddle[1] and close < open[1]) C_PiercingBullish := true if C_PiercingBullish and PiercingInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishPiercing = "Piercing\nPiercing is a two-candle bullish reversal candlestick pattern found in a downtrend. The first candle is red and has a larger than average body. The second candle is green and opens below the low of the prior candle, creating a gap, and then closes above the midpoint of the first candle. The pattern shows a possible shift in the momentum from the downside to the upside, indicating that a reversal might happen soon." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="P", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishPiercing) C_HammerBullishNumberOfCandles = 1 C_HammerBullish = false if C_SmallBody and C_Body > 0 and C_BodyLo > hl2 and C_DnShadow >= C_Factor * C_Body and not C_HasUpShadow if C_DownTrend C_HammerBullish := true if C_HammerBullish and HammerInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishHammer = "Hammer\nHammer candlesticks form when a security moves lower after the open, but continues to rally into close above the intraday low. The candlestick that you are left with will look like a square attached to a long stick-like figure. This candlestick is called a Hammer if it happens to form during a decline." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="H", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishHammer) C_HangingManBearishNumberOfCandles = 1 C_HangingManBearish = false if C_SmallBody and C_Body > 0 and C_BodyLo > hl2 and C_DnShadow >= C_Factor * C_Body and not C_HasUpShadow if C_UpTrend C_HangingManBearish := true if C_HangingManBearish and HangingManInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishHangingMan = "Hanging Man\nWhen a specified security notably moves lower after the open, but continues to rally to close above the intraday low, a Hanging Man candlestick will form. The candlestick will resemble a square, attached to a long stick-like figure. It is referred to as a Hanging Man if the candlestick forms during an advance." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="HM", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishHangingMan) C_ShootingStarBearishNumberOfCandles = 1 C_ShootingStarBearish = false if C_SmallBody and C_Body > 0 and C_BodyHi < hl2 and C_UpShadow >= C_Factor * C_Body and not C_HasDnShadow if C_UpTrend C_ShootingStarBearish := true if C_ShootingStarBearish and ShootingStarInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishShootingStar = "Shooting Star\nThis single day pattern can appear during an uptrend and opens high, while it closes near its open. It trades much higher as well. It is bearish in nature, but looks like an Inverted Hammer." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="SS", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishShootingStar) C_InvertedHammerBullishNumberOfCandles = 1 C_InvertedHammerBullish = false if C_SmallBody and C_Body > 0 and C_BodyHi < hl2 and C_UpShadow >= C_Factor * C_Body and not C_HasDnShadow if C_DownTrend C_InvertedHammerBullish := true if C_InvertedHammerBullish and InvertedHammerInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishInvertedHammer = "Inverted Hammer\nIf in a downtrend, then the open is lower. When it eventually trades higher, but closes near its open, it will look like an inverted version of the Hammer Candlestick. This is a one-day bullish reversal pattern." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="IH", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishInvertedHammer) C_MorningStarBullishNumberOfCandles = 3 C_MorningStarBullish = false if C_LongBody[2] and C_SmallBody[1] and C_LongBody if C_DownTrend and C_BlackBody[2] and C_BodyHi[1] < C_BodyLo[2] and C_WhiteBody and C_BodyHi >= C_BodyMiddle[2] and C_BodyHi < C_BodyHi[2] and C_BodyHi[1] < C_BodyLo C_MorningStarBullish := true if C_MorningStarBullish and MorningStarInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishMorningStar = "Morning Star\nA three-day bullish reversal pattern, which consists of three candlesticks will look something like this: The first being a long-bodied red candle that extends the current downtrend. Next comes a short, middle candle that gaps down on the open. After comes a long-bodied green candle, which gaps up on the open and closes above the midpoint of the body of the first day." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="MS", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishMorningStar) C_EveningStarBearishNumberOfCandles = 3 C_EveningStarBearish = false if C_LongBody[2] and C_SmallBody[1] and C_LongBody if C_UpTrend and C_WhiteBody[2] and C_BodyLo[1] > C_BodyHi[2] and C_BlackBody and C_BodyLo <= C_BodyMiddle[2] and C_BodyLo > C_BodyLo[2] and C_BodyLo[1] > C_BodyHi C_EveningStarBearish := true if C_EveningStarBearish and EveningStarInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishEveningStar = "Evening Star\nThis candlestick pattern is bearish and continues an uptrend with a long-bodied, green candle day. It is then followed by a gapped and small-bodied candle day, and concludes with a downward close. The close would be below the first day’s midpoint." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="ES", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishEveningStar) C_MarubozuWhiteBullishNumberOfCandles = 1 C_MarubozuShadowPercentWhite = 5.0 C_MarubozuWhiteBullish = C_WhiteBody and C_LongBody and C_UpShadow <= C_MarubozuShadowPercentWhite/100*C_Body and C_DnShadow <= C_MarubozuShadowPercentWhite/100*C_Body and C_WhiteBody if C_MarubozuWhiteBullish and MarubozuWhiteInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishMarubozuWhite = "Marubozu White\nA Marubozu White Candle is a candlestick that does not have a shadow that extends from its candle body at either the open or the close. Marubozu is Japanese for “close-cropped” or “close-cut.” Other sources may call it a Bald or Shaven Head Candle." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="MW", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishMarubozuWhite) C_MarubozuBlackBearishNumberOfCandles = 1 C_MarubozuShadowPercentBearish = 5.0 C_MarubozuBlackBearish = C_BlackBody and C_LongBody and C_UpShadow <= C_MarubozuShadowPercentBearish/100*C_Body and C_DnShadow <= C_MarubozuShadowPercentBearish/100*C_Body and C_BlackBody if C_MarubozuBlackBearish and MarubozuBlackInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishMarubozuBlack = "Marubozu Black\nThis is a candlestick that has no shadow, which extends from the red-bodied candle at the open, the close, or even at both. In Japanese, the name means “close-cropped” or “close-cut.” The candlestick can also be referred to as Bald or Shaven Head." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="MB", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishMarubozuBlack) C_DojiNumberOfCandles = 1 C_DragonflyDoji = C_IsDojiBody and C_UpShadow <= C_Body C_GravestoneDojiOne = C_IsDojiBody and C_DnShadow <= C_Body if C_Doji and not C_DragonflyDoji and not C_GravestoneDojiOne and DojiInput var ttDoji = "Doji\nWhen the open and close of a security are essentially equal to each other, a doji candle forms. The length of both upper and lower shadows may vary, causing the candlestick you are left with to either resemble a cross, an inverted cross, or a plus sign. Doji candles show the playout of buyer-seller indecision in a tug-of-war of sorts. As price moves either above or below the opening level during the session, the close is either at or near the opening level." label.new(bar_index, patternLabelPosLow, text="D", style=label.style_label_up, color = color.gray, textcolor=color.white, tooltip = ttDoji) C_GravestoneDojiBearishNumberOfCandles = 1 C_GravestoneDojiBearish = C_IsDojiBody and C_DnShadow <= C_Body if C_GravestoneDojiBearish and GravestoneDojiInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishGravestoneDoji = "Gravestone Doji\nWhen a doji is at or is close to the day’s low point, a doji line will develop." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="GD", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishGravestoneDoji) C_DragonflyDojiBullishNumberOfCandles = 1 C_DragonflyDojiBullish = C_IsDojiBody and C_UpShadow <= C_Body if C_DragonflyDojiBullish and DragonflyDojiInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishDragonflyDoji = "Dragonfly Doji\nSimilar to other Doji days, this particular Doji also regularly appears at pivotal market moments. This is a specific Doji where both the open and close price are at the high of a given day." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="DD", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishDragonflyDoji) C_HaramiCrossBullishNumberOfCandles = 2 C_HaramiCrossBullish = C_LongBody[1] and C_BlackBody[1] and C_DownTrend[1] and C_IsDojiBody and high <= C_BodyHi[1] and low >= C_BodyLo[1] if C_HaramiCrossBullish and HaramiCrossInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishHaramiCross = "Harami Cross\nThis candlestick pattern is a variation of the Harami Bullish pattern. It is found during a downtrend. The two-day candlestick pattern consists of a Doji candle that is entirely encompassed within the body of what was once a red-bodied candle." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="HC", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishHaramiCross) C_HaramiCrossBearishNumberOfCandles = 2 C_HaramiCrossBearish = C_LongBody[1] and C_WhiteBody[1] and C_UpTrend[1] and C_IsDojiBody and high <= C_BodyHi[1] and low >= C_BodyLo[1] if C_HaramiCrossBearish and HaramiCrossInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishHaramiCross = "Harami Cross\nThis candlestick pattern is a variation of the Harami Bearish pattern. It is found during an uptrend. This is a two-day candlestick pattern with a Doji candle that is entirely encompassed within the body that was once a green-bodied candle. The Doji shows that some indecision has entered the minds of sellers, and the pattern hints that the trend might reverse." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="HC", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishHaramiCross) C_HaramiBullishNumberOfCandles = 2 C_HaramiBullish = C_LongBody[1] and C_BlackBody[1] and C_DownTrend[1] and C_WhiteBody and C_SmallBody and high <= C_BodyHi[1] and low >= C_BodyLo[1] if C_HaramiBullish and HaramiInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishHarami = "Harami\nThis two-day candlestick pattern consists of a small-bodied green candle that is entirely encompassed within the body of what was once a red-bodied candle." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="BH", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishHarami) C_HaramiBearishNumberOfCandles = 2 C_HaramiBearish = C_LongBody[1] and C_WhiteBody[1] and C_UpTrend[1] and C_BlackBody and C_SmallBody and high <= C_BodyHi[1] and low >= C_BodyLo[1] if C_HaramiBearish and HaramiInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishHarami = "Harami\nThis is a two-day candlestick pattern with a small, red-bodied candle that is entirely encompassed within the body that was once a green-bodied candle." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="BH", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishHarami) C_LongLowerShadowBullishNumberOfCandles = 1 C_LongLowerShadowPercent = 75.0 C_LongLowerShadowBullish = C_DnShadow > C_Range/100*C_LongLowerShadowPercent if C_LongLowerShadowBullish and LongLowerShadowInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishLongLowerShadow = "Long Lower Shadow\nTo indicate seller domination of the first part of a session, candlesticks will present with long lower shadows and short upper shadows, consequently lowering prices." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="LLS", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishLongLowerShadow) C_LongUpperShadowBearishNumberOfCandles = 1 C_LongShadowPercent = 75.0 C_LongUpperShadowBearish = C_UpShadow > C_Range/100*C_LongShadowPercent if C_LongUpperShadowBearish and LongUpperShadowInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishLongUpperShadow = "Long Upper Shadow\nTo indicate buyer domination of the first part of a session, candlesticks will present with long upper shadows, as well as short lower shadows, consequently raising bidding prices." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="LUS", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishLongUpperShadow) C_SpinningTopWhiteNumberOfCandles = 1 C_SpinningTopWhitePercent = 34.0 C_IsSpinningTopWhite = C_DnShadow >= C_Range / 100 * C_SpinningTopWhitePercent and C_UpShadow >= C_Range / 100 * C_SpinningTopWhitePercent and not C_IsDojiBody C_SpinningTopWhite = C_IsSpinningTopWhite and C_WhiteBody if C_SpinningTopWhite and SpinningTopWhiteInput var ttSpinningTopWhite = "Spinning Top White\nWhite spinning tops are candlestick lines that are small, green-bodied, and possess shadows (upper and lower) that end up exceeding the length of candle bodies. They often signal indecision between buyer and seller." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="STW", style=label.style_label_up, color = color.gray, textcolor=color.white, tooltip = ttSpinningTopWhite) C_SpinningTopBlackNumberOfCandles = 1 C_SpinningTopBlackPercent = 34.0 C_IsSpinningTop = C_DnShadow >= C_Range / 100 * C_SpinningTopBlackPercent and C_UpShadow >= C_Range / 100 * C_SpinningTopBlackPercent and not C_IsDojiBody C_SpinningTopBlack = C_IsSpinningTop and C_BlackBody if C_SpinningTopBlack and SpinningTopBlackInput var ttSpinningTopBlack = "Spinning Top Black\nBlack spinning tops are candlestick lines that are small, red-bodied, and possess shadows (upper and lower) that end up exceeding the length of candle bodies. They often signal indecision." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosLow, text="STB", style=label.style_label_up, color = color.gray, textcolor=color.white, tooltip = ttSpinningTopBlack) C_ThreeWhiteSoldiersBullishNumberOfCandles = 3 C_3WSld_ShadowPercent = 5.0 C_3WSld_HaveNotUpShadow = C_Range * C_3WSld_ShadowPercent / 100 > C_UpShadow C_ThreeWhiteSoldiersBullish = false if C_LongBody and C_LongBody[1] and C_LongBody[2] if C_WhiteBody and C_WhiteBody[1] and C_WhiteBody[2] C_ThreeWhiteSoldiersBullish := close > close[1] and close[1] > close[2] and open < close[1] and open > open[1] and open[1] < close[2] and open[1] > open[2] and C_3WSld_HaveNotUpShadow and C_3WSld_HaveNotUpShadow[1] and C_3WSld_HaveNotUpShadow[2] if C_ThreeWhiteSoldiersBullish and ThreeWhiteSoldiersInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishThreeWhiteSoldiers = "Three White Soldiers\nThis bullish reversal pattern is made up of three long-bodied, green candles in immediate succession. Each one opens within the body before it and the close is near to the daily high." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="3WS", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishThreeWhiteSoldiers) C_ThreeBlackCrowsBearishNumberOfCandles = 3 C_3BCrw_ShadowPercent = 5.0 C_3BCrw_HaveNotDnShadow = C_Range * C_3BCrw_ShadowPercent / 100 > C_DnShadow C_ThreeBlackCrowsBearish = false if C_LongBody and C_LongBody[1] and C_LongBody[2] if C_BlackBody and C_BlackBody[1] and C_BlackBody[2] C_ThreeBlackCrowsBearish := close < close[1] and close[1] < close[2] and open > close[1] and open < open[1] and open[1] > close[2] and open[1] < open[2] and C_3BCrw_HaveNotDnShadow and C_3BCrw_HaveNotDnShadow[1] and C_3BCrw_HaveNotDnShadow[2] if C_ThreeBlackCrowsBearish and ThreeBlackCrowsInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishThreeBlackCrows = "Three Black Crows\nThis is a bearish reversal pattern that consists of three long, red-bodied candles in immediate succession. For each of these candles, each day opens within the body of the day before and closes either at or near its low." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="3BC", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishThreeBlackCrows) C_EngulfingBullishNumberOfCandles = 2 C_EngulfingBullish = C_DownTrend and C_WhiteBody and C_LongBody and C_BlackBody[1] and C_SmallBody[1] and close >= open[1] and open <= close[1] and ( close > open[1] or open < close[1] ) if C_EngulfingBullish and EngulfingInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishEngulfing = "Engulfing\nAt the end of a given downward trend, there will most likely be a reversal pattern. To distinguish the first day, this candlestick pattern uses a small body, followed by a day where the candle body fully overtakes the body from the day before, and closes in the trend’s opposite direction. Although similar to the outside reversal chart pattern, it is not essential for this pattern to completely overtake the range (high to low), rather only the open and the close." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="BE", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishEngulfing) C_EngulfingBearishNumberOfCandles = 2 C_EngulfingBearish = C_UpTrend and C_BlackBody and C_LongBody and C_WhiteBody[1] and C_SmallBody[1] and close <= open[1] and open >= close[1] and ( close < open[1] or open > close[1] ) if C_EngulfingBearish and EngulfingInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishEngulfing = "Engulfing\nAt the end of a given uptrend, a reversal pattern will most likely appear. During the first day, this candlestick pattern uses a small body. It is then followed by a day where the candle body fully overtakes the body from the day before it and closes in the trend’s opposite direction. Although similar to the outside reversal chart pattern, it is not essential for this pattern to fully overtake the range (high to low), rather only the open and the close." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="BE", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishEngulfing) C_AbandonedBabyBullishNumberOfCandles = 3 C_AbandonedBabyBullish = C_DownTrend[2] and C_BlackBody[2] and C_IsDojiBody[1] and low[2] > high[1] and C_WhiteBody and high[1] < low if C_AbandonedBabyBullish and AbandonedBabyInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishAbandonedBaby = "Abandoned Baby\nThis candlestick pattern is quite rare as far as reversal patterns go. The first of the pattern is a large down candle. Next comes a doji candle that gaps below the candle before it. The doji candle is then followed by another candle that opens even higher and swiftly moves to the upside." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="AB", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishAbandonedBaby) C_AbandonedBabyBearishNumberOfCandles = 3 C_AbandonedBabyBearish = C_UpTrend[2] and C_WhiteBody[2] and C_IsDojiBody[1] and high[2] < low[1] and C_BlackBody and low[1] > high if C_AbandonedBabyBearish and AbandonedBabyInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishAbandonedBaby = "Abandoned Baby\nA bearish abandoned baby is a specific candlestick pattern that often signals a downward reversal trend in terms of security price. It is formed when a gap appears between the lowest price of a doji-like candle and the candlestick of the day before. The earlier candlestick is green, tall, and has small shadows. The doji candle is also tailed by a gap between its lowest price point and the highest price point of the candle that comes next, which is red, tall and also has small shadows. The doji candle shadows must completely gap either below or above the shadows of the first and third day in order to have the abandoned baby pattern effect." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="AB", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishAbandonedBaby) C_TriStarBullishNumberOfCandles = 3 C_3DojisBullish = C_Doji[2] and C_Doji[1] and C_Doji C_BodyGapUpBullish = C_BodyHi[1] < C_BodyLo C_BodyGapDnBullish = C_BodyLo[1] > C_BodyHi C_TriStarBullish = C_3DojisBullish and C_DownTrend[2] and C_BodyGapDnBullish[1] and C_BodyGapUpBullish if C_TriStarBullish and TriStarInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishTriStar = "Tri-Star\nA bullish TriStar candlestick pattern can form when three doji candlesticks materialize in immediate succession at the tail-end of an extended downtrend. The first doji candle marks indecision between bull and bear. The second doji gaps in the direction of the leading trend. The third changes the attitude of the market once the candlestick opens in the direction opposite to the trend. Each doji candle has a shadow, all comparatively shallow, which signify an interim cutback in volatility." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="3S", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishTriStar) C_TriStarBearishNumberOfCandles = 3 C_3Dojis = C_Doji[2] and C_Doji[1] and C_Doji C_BodyGapUp = C_BodyHi[1] < C_BodyLo C_BodyGapDn = C_BodyLo[1] > C_BodyHi C_TriStarBearish = C_3Dojis and C_UpTrend[2] and C_BodyGapUp[1] and C_BodyGapDn if C_TriStarBearish and TriStarInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishTriStar = "Tri-Star\nThis particular pattern can form when three doji candlesticks appear in immediate succession at the end of an extended uptrend. The first doji candle marks indecision between bull and bear. The second doji gaps in the direction of the leading trend. The third changes the attitude of the market once the candlestick opens in the direction opposite to the trend. Each doji candle has a shadow, all comparatively shallow, which signify an interim cutback in volatility." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="3S", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishTriStar) C_KickingBullishNumberOfCandles = 2 C_MarubozuShadowPercent = 5.0 C_Marubozu = C_LongBody and C_UpShadow <= C_MarubozuShadowPercent/100*C_Body and C_DnShadow <= C_MarubozuShadowPercent/100*C_Body C_MarubozuWhiteBullishKicking = C_Marubozu and C_WhiteBody C_MarubozuBlackBullish = C_Marubozu and C_BlackBody C_KickingBullish = C_MarubozuBlackBullish[1] and C_MarubozuWhiteBullishKicking and high[1] < low if C_KickingBullish and KickingInput and (("Bullish" == CandleType) or CandleType == "Both") var ttBullishKicking = "Kicking\nThe first day candlestick is a bearish marubozu candlestick with next to no upper or lower shadow and where the price opens at the day’s high and closes at the day’s low. The second day is a bullish marubozu pattern, with next to no upper or lower shadow and where the price opens at the day’s low and closes at the day’s high. Additionally, the second day gaps up extensively and opens above the opening price of the day before. This gap or window, as the Japanese call it, lies between day one and day two’s bullish candlesticks." _tradeDirection := "bullish" label.new(bar_index, patternLabelPosLow, text="K", style=label.style_label_up, color = color.blue, textcolor=color.white, tooltip = ttBullishKicking) C_KickingBearishNumberOfCandles = 2 C_MarubozuBullishShadowPercent = 5.0 C_MarubozuBearishKicking = C_LongBody and C_UpShadow <= C_MarubozuBullishShadowPercent/100*C_Body and C_DnShadow <= C_MarubozuBullishShadowPercent/100*C_Body C_MarubozuWhiteBearish = C_MarubozuBearishKicking and C_WhiteBody C_MarubozuBlackBearishKicking = C_MarubozuBearishKicking and C_BlackBody C_KickingBearish = C_MarubozuWhiteBearish[1] and C_MarubozuBlackBearishKicking and low[1] > high if C_KickingBearish and KickingInput and (("Bearish" == CandleType) or CandleType == "Both") var ttBearishKicking = "Kicking\nA bearish kicking pattern will occur, subsequently signaling a reversal for a new downtrend. The first day candlestick is a bullish marubozu. The second day gaps down extensively and opens below the opening price of the day before. There is a gap between day one and two’s bearish candlesticks." _tradeDirection := "bearish" label.new(bar_index, patternLabelPosHigh, text="K", style=label.style_label_down, color = color.red, textcolor=color.white, tooltip = ttBearishKicking) var ttAllCandlestickPatterns = "All Candlestick Patterns\n" label.new(bar_index, patternLabelPosLow, text="Collection", style=label.style_label_up, color = color.gray, textcolor=color.white, tooltip = ttAllCandlestickPatterns) strategy.entry("long", strategy.long, when=_tradeDirection =="bullish") strategy.close("long", when = _tradeDirection =="bearish" or (close < open and close < strategy.position_avg_price * (1 - stopLoss)) or close > strategy.position_avg_price) strategy.entry("short", strategy.short, when=_tradeDirection =="bearish") strategy.close("short", when = _tradeDirection =="bullish" or (close > open and close > strategy.position_avg_price * (1 + stopLoss)) or close < strategy.position_avg_price)