Bullish vs Bearish Candle patterns

Bullish vs Bearish Candle patterns

Richard Tyler
2015-11-24 17:08:23

Some candle patterns can be either bearish or bullish depending on the sequence of colours.
How to distinguish which is which?
For instance CdlEngulfing().
How do I ascertain whether the signal is bullish or bearish in QS rather than by eye?

QuantShare
2015-11-25 03:53:39

CdlEngulfing() would return 1 if the pattern is bullish and -1 if the pattern is bearish.

Richard Tyler
2015-11-25 11:50:09

Thanks.
I found it actually returns 100 for bullish, and -100 for bearish by:
- dragging the indicator onto a new pane
- adding the statement PlotArrow(CdlEngulfing()== -100,"E",AboveHigh,colorRed);
to the chart formulas. Testing for 1, -1, or true/false didn't work.

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