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.
Remove from Favorite Scripts Add to Favorite Scripts
//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)
Thanks for sharing this. What does the yellow candle mean?
Reply
How I can get alert from this patterns great scrip ?.
Thanks
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out