GMS: Candlestick Patterns with RSI Filter — Indicator by GlobalMarketSignals

relativestrengthindex movingaverage candlestickpattern candlestickanalysis meanreversion countertrend

I wanted to apply an RSI filter to some of the new Candlestick Patterns (in the indicators tab) since some of them looked to be quite effective for picking reversals. Turns out it's a pretty good pairing.

You can modify the RSI length in addition to the upper and lower thresholds. I also added in check boxes to combine different bullish and bearish patterns.

The candlestick patterns included are:

1. Long Upper Shadow
2. Long Lower Shadow
3. Doji
4. Bullish Harami
5. Bearish Harami
6. Bullish Engulfing
7. Bearish Engulfing

Hope it helps!

Andre

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