Three Outside Up automatic finding script — Indicator by HPotter

Hi
Let me introduce my Three Outside Up automatic finding script.
This is a three candlestick bullish reversal pattern consisting of a bullish
engulfing pattern formed by the first two candlesticks then followed by an up
candlestick with a higher close than the prior candlestick.

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 05/04/2014
//    This is a three candlestick bullish reversal pattern consisting of a bullish 
//    engulfing pattern formed by the first two candlesticks then followed by an up 
//    candlestick with a higher close than the prior candlestick.
////////////////////////////////////////////////////////////

study(title = "Three Outside Up", overlay = true)
barcolor(open[2] > close[2] ? close[1] > open[1] ? close[1] >= open[2] ? close[2] >= open[1] ? close[1] - open[1] > open[2] - close[2] ? close > open ? close > high[1] ? yellow : na : na : na:na : na : na : na)