rmwaddelljr

Candlestick Patterns With EMA and Stochastic

6/11/15, Corrected barcolor errors.

Candlestick patterns identified and color coded according to position above or below 8EMA(TLine).
Special thanks to repo32, DavidR, and Chris Moody for coding ideas.

Bullish candlestick buy signals have a greater probability of success when Stochastics are oversold. Bearish ones have a
greater probability of success when overbought. Stack as many factors in your favor as possible. A candlestick signal by itself is of little value unless you apply additional information with it. An 8 EMA is coded also to help with buy/sell signals. Some of the videos by Steven Bigalow are on the Web to see how he uses it.
https://www.youtube.com/watch?v=QpVbDVZHab0
Regardless of systems and strategies used, make your second trade first: Know when you're going to exit. Risk management rules. Good luck and good trading.
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//Created by Robert Waddell with special thanks to repo32 for his candlestick ID code, DavidR for EMA code and Chris Moody for barcolor code.
//Also a shameless plug for repo32's "Price above/below EMA" and Chris Moody's "Stochastic MTF"
//6/5/15
//Candlestick analysis with buy signals
//Candlestick patterns are identified above or below the price action.
study(title ="Candlestick Patterns With EMA and Stochastic", overlay = true)

length = input(12, minval=1), smoothK = input(3, minval=1), smoothD = input(3, minval=1)
k = sma(stoch(close, high, low, length), smoothK)
d = sma(k, smoothD)

DojiSize = input(0.05, minval=0.01, title="Doji size")
dj=(abs(open - close) <= (high - low) * DojiSize)
plotchar(dj, title="Doji", text='Doji', color=white)

es = (close[2] > open[2] and min(open[1], close[1]) > close[2] and open < min(open[1], close[1]) and close < open and close > .5 * open[2] - close[2])
plotshape(es, title= "Evening Star",offset = -1, color=orange, style=shape.arrowdown, text="Evening\nStar")

ms = (close[2] < open[2] and max(open[1], close[1]) < close[2] and open > max(open[1], close[1]) and close > max(open[1], close[1]) and close > .5 * open[2] - close[2])
plotshape(ms,  title= "Morning Star",offset = -1, location=location.belowbar, color=lime, style=shape.arrowup,  text="Morn\nStar")


ss = (open[1] < close[1] and open > close[1] and high - max(open, close) >= abs(open - close) * 3 and min(close, open) - low <= abs(open - close))
plotshape(ss, title= "Shooting Star", location=location.belowbar, color=lime, style=shape.arrowup, text= "Shoot\nStar")

ih=(((high - low)>3*(open -close)) and  ((high - close)/(.001 + high - low) > 0.6) and ((high - open)/(.001 + high - low) > 0.6))
plotshape(ih, title= "Inverted Hammer", location=location.belowbar, color=white, style=shape.diamond, text="IH")

h=(((high - low)>3*(open -close)) and  ((close - low)/(.001 + high - low) > 0.6) and ((open - low)/(.001 + high - low) > 0.6))
plotshape(h, title= "Hammer", location=location.belowbar, color=white, style=shape.diamond, text="H")


beh = (close[1] > open[1] and open > close and open <= close[1] and open[1] <= close and open - close < close[1] - open[1] )
plotshape(beh, title= "Bearish Harami",  color=orange, style=shape.arrowdown, text="Bear\nHarami")

blh = (open[1] > close[1] and close > open and close <= open[1] and close[1] <= open and close - open < open[1] - close[1] )
plotshape(blh,  title= "Bullish Harami", location=location.belowbar, color=lime, style=shape.arrowup, text="Bull\nHarami")

bee = (close[1] > open[1] and open > close and open >= close[1] and open[1] >= close and open - close > close[1] - open[1] )
plotshape(bee,  title= "Bearish Engulfing", color=orange, style=shape.arrowdown, text="Bearish\nEngulf")

ble = (open[1] > close[1] and close > open and close >= open[1] and close[1] >= open and close - open > open[1] - close[1] )
plotshape(ble, title= "Bullish Engulfing", location=location.belowbar, color=lime, style=shape.arrowup, text="Bullish\nEngulf")

upper = highest(10)[1]
ps = (close[1] < open[1] and  open < low[1] and close > close[1] + ((open[1] - close[1])/2) and close < open[1])
plotshape(ps, title= "Piercing Line", location=location.belowbar, color=lime, style=shape.arrowup, text="Pierc\nSig")

blk = (open[1]>close[1] and open>=open[1] and close>open)
plotshape(blk, title= "Bullish Kicker", location=location.belowbar, color=lime, style=shape.arrowup, text="Bull\nKick")


bek = (open[1]<close[1] and open<=open[1] and close<=open)
plotshape(bek, title= "Bearish Kicker", color=orange, style=shape.arrowdown, text="Bear\nKick")


dcc = ((close[1]>open[1])and(((close[1]+open[1])/2)>close)and(open>close)and(open>close[1])and(close>open[1])and((open-close)/(.001+(high-low))>0.6))
plotshape(dcc, title= "Dark Cloud Cover", color=orange, style=shape.arrowdown, text="Dark\nCloud")



TLineEMA = input(8, minval=1, title="Trigger Line")
TLine = ema(close, TLineEMA)


plot(TLine, color=yellow, title="T-Line EMA", linewidth=1)

aboveTLine = close > TLine
belowTLine =  close < TLine 


barcolor(ms or blk and aboveTLine and k <= 25 and d <= 25  ? yellow : na)  
barcolor(bek and belowTLine and k >= 75 and d >= 75 ? fuchsia : na)
barcolor(ps and aboveTLine and k <= 25 and d <= 25 ? yellow : na)
barcolor(blk and aboveTLine and k <= 25 and d <= 25 ? yellow : na)
barcolor(ble and aboveTLine and k <= 25 and d <= 25 ? yellow : na)
barcolor(dcc and belowTLine and k >= 75 and d >= 75 ? fuchsia : na)
barcolor(h and aboveTLine and k <= 25 and d <= 25 ? yellow : na)
barcolor(ih and aboveTLine and k <= 25 and d <= 25 ? yellow : na)
barcolor(ss and belowTLine and k >= 75 and d >= 75 ? fuchsia : na)
barcolor(es and belowTLine and k >= 75 and d >= 75 ? fuchsia : na)
barcolor(ih or beh and belowTLine and k >= 75 and d >= 75 ? fuchsia : na)
Hi RMwaddelljnr,Im new to trading view and ive been trying to create a script that shows a buy signal when there are 2 consecutive bars above the 8ema and a sell signal when there are 2 consecutive bars below the 8ema when when i came across this gem. Your script has everything and more. Is there an easy way to change this script to show the buy signal after 2 days above the 8 ema and a sell signal after 2 days below the 8 ema?

Looking forward to your response.

Regards Warrick
Australia
Reply
How I can get alert from this patterns great scrip ?.
Thanks
Reply
Thanks for sharing this. What does the yellow candle mean?
+4 Reply
C-Stax sjcwealth
@sjcwealth, DId you figure out what the yellow candle means? I'm trying to figure that out too, as well as the purple candle
Reply
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