HPotter

Three Outside Down automatic finding script

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Hi
Let me introduce my Three Outside Down automatic finding script.
This is a three candlestick bearish reversal pattern consisting of a bearish
engulfing pattern formed by the first two candlesticks then followed by a down
candlestick with a lower close than the prior candlestick.
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//  Copyright by HPotter v1.0 05/04/2014
//    This is a three candlestick bearish reversal pattern consisting of a bearish 
//    engulfing pattern formed by the first two candlesticks then followed by a down 
//    candlestick with a lower close than the prior candlestick.
////////////////////////////////////////////////////////////

study(title = "Three Outside Down", overlay = true)
barcolor(close[2] > open[2] ? open[1] > close[1] ? open[1] >= close[2] ? open[2] >= close[1] ? open[1] - close[1] > close[2] - open[2] ? close < open ? close < low[1] ? yellow : na : na : na : na : na : na: na)
oye
2 years ago
HP, i think outside bars are different from engulfing candles as in the former case, the second candle should completely engulf both body and tail and should close above/below high /low.
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