HPotter

Bearish Belt Hold automatic finding script

220
Hi
Let me introduce my Bearish Belt Hold automatic finding script.
The Bearish Belt Hold is a long down candlestick in an uptrend which opens
with a gap at its high and closes well below the open.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Want to use this script on a chart?
////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 09/04/2014
//    The Bearish Belt Hold is a long down candlestick in an uptrend which opens 
//    with a gap at its high and closes well below the open.
////////////////////////////////////////////////////////////

study(title = "Bearish Belt Hold", overlay = true)
upper = highest(10)[1]
barcolor(high == open ?  open > upper ? open > close ? close < ((high[1] - low[1]) / 2) + low[1] ? yellow :na :na  : na : na)