An outside reversal candle set up script with buy/sell signals. Looks simple but it's pretty powerful especially if combined with your choice confirming indicator.
The pattern psychology is this one (Frank Ochoa explanation): " The power behind this pattern lies in the psychology behind the traders involved in this setup. If you have ever participated in a...
Based on "How Naked Trading Works" video by Walter Peters: youtu.be I don't know this person and I am in no way affiliated with him. I just found his video interesting enough to make this into a script.
Rules as described by Walter in his video:
1. if current candle makes a higher high than the previous one
2. and is a bearish engulfing candle
3. and has room to...
This startegy based on 3-day pattern reversal described in "Are Three-Bar
Patterns Reliable For Stocks" article by Thomas Bulkowski, presented in
January,2000 issue of Stocks&Commodities magazine.
That pattern conforms to the following rules:
- It uses daily prices, not intraday or weekly prices;
- The middle day of the three-day...
