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Candle - Dark Cloud Cover for Metastock
greg123
about 14 years ago
Metastock

Rating:
0 / 5 (Votes 0)
Tags:
metastock, candlestick, pattern

The Dark Cloud Cover is a candlestick pattern where a black candlestick follows a long white candlestick. It can be an indication of a future bearish trend.

The dark cloud pattern is formed when the closing price is:
1) within the price range of the previous day, but
2) below the mid-point between open and closing prices of the previous day.

Indicator / Formula

Candle - Dark Cloud Cover
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If(Ref(C-OPEN,-1)>(Mov(Abs(OPEN-C),10,S)), {long white}
If(C<Ref(C,-1),If(C>Ref(OPEN,-1), {close within previous body}
If(Ref(Abs((OPEN+C)/2),-1)>Ref(Mov(C,10,E),-1), {uptrend}
If(OPEN>Ref(H,-1), {open at new high}
-1,0),0),0),0),0)

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