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Bullish & Bearish Engulfing Pattern for Metastock
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metastock, exploration
A bullish engulfing pattern is a candlestick chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely covers or “engulfs” the previous day’s candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire candlestick from the previous day.
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Bullish Engulfing Pattern ColA: CLOSE Filter: BarsSince(EngulfingBear())<=5 AND BarsSince(ROC(C,60,%)>15)<=5 AND BarsSince(Stoch(9,1)>90)<=5 Bearish Engulfing Pattern Col A: CLOSE Filter: BarsSince(EngulfingBull())<=5 AND BarsSince(ROC(C,60,%)<-15)<=5 AND BarsSince(Stoch(9,1)<10)<=5
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