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Bearish Engulfing Candlestick Pattern for Metastock
greg123
about 14 years ago
Metastock

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

A bearish engulfing pattern is a candlestick chart pattern that consists of a small white candlestick with short shadows or tails followed by a large black candlestick that eclipses or “engulfs” the small white one. As implied by its name, a bearish engulfing pattern may provide an indication of a future bearish trend.

Indicator / Formula

Bearish Engulfing Candlestick Pattern
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If(Ref(OPEN,-1)<Ref(C,-1),
If(OPEN-C>(Mov(Abs(OPEN-C),10,S)),
If(C<Ref(OPEN,-1),
If(Ref(Abs((OPEN+C)/2),-1)>Ref(Mov(C,10,E),-1),
If(OPEN>Ref(C,-1),-1,0),0),0),0),0)

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