One Black Crow & One White Soldier Candlestick Patterns for ThinkorSwim

[BenTen]

ThinkorSwim just added two new candlestick patterns. One was the bullish trend reversal pattern called One White Soldier and the other one was the bearish trend reversal candlestick called One Black Crow.

I was able to test them out on a few charts and both patterns look really promising for intraday traders and swing traders (depending on your risk tolerance).

Recognition Criteria for Bearish One Black Crow:

• The first candle is long and bullish and continues an uptrend
• The second candle is long and bearish
• The second candle opens within the first candle's body limits and closes below the first candle's open.

Recognition Criteria for Bullish One White Soldier:

• The first candle is long and bearish and continues a downtrend
• The second candle is long and bullish
• The second candle opens within the first candle's body limits and closes above the first candle's open.

You can add these candlestick patterns right now using the Patterns tab on your ThinkorSwim or you can grab the source code below.

Bullish Pattern

# One White Soldier
# TD Ameritrade IP Company, Inc. (c) 2019
#

#wizard text: Inputs: length:
#wizard input: length
#wizard text: trend setup:
#wizard input: trendSetup

input length = 20;
input trendSetup = 3;

plot Bullish = IsDescending(open, trendSetup)[1] and
    IsLongBlack(length)[1] and
    IsLongWhite(length) and
    open > close[1] and
    open < open[1] and
    close > open[1];

Bullish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
Bullish.SetDefaultColor(GetColor(8));
Bullish.SetLineWeight(2);

Shareable Link: https://tos.mx/kMzDXV

Bearish Pattern

# One Black Crow
# TD Ameritrade IP Company, Inc. (c) 2019
#

#wizard text: Inputs: length:
#wizard input: length
#wizard text: trend setup:
#wizard input: trendSetup

input length = 20;
input trendSetup = 3;

plot Bearish = IsAscending(open, trendSetup)[1] and
    IsLongWhite(length)[1] and
    IsLongBlack(length) and
    open < close[1] and
    open > open[1] and
    close < open[1];

Bearish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
Bearish.SetDefaultColor(GetColor(1));
Bearish.SetLineWeight(2);

Shareable Link: https://tos.mx/vnPwt2

 

[8Nick8]

Thanks ben!! Have you tested this on daily timeframe?

 

[BenTen]

@Nick I did but I would still prefer the hourly and anything less than that. But I found two Daily charts that seem really nice but these patterns on.

 

[8Nick8]

Excellent...let me download and provide my feedback after awhile...

 

[Shinthus]

Nice. They seem pretty accurate on any timeframe.

 

[jeff]

Hi ALL

Is there a way to create a scanner for watch list (or can share if its already available) based on all the various bearish and bullish candlestick patterns coded in this forum.
Thanks a lot

 

[horserider]

Just so ya'll know. You do not need a new study for these. Go to "Patterns, select patterns, candlesticks" pick ones you want.

 

[BenTen]

@jeff Use the scanner in ToS to scan for these two patterns. They’re built into the platform.

See this tutorial if you need help https://usethinkscript.com/threads/how-to-use-the-tos-scanner.284/

 

[elementnine]

hey guys,
how to add sound alerts for these signals?

 

[BenTen]

@elementnine

Bull alerts:

Alert(Bullish, " ", Alert.Bar, Sound.Chimes);

Bear alerts

Alert(Bearish, " ", Alert.Bar, Sound.Bell);

 

[spencepuppy]

Does this delay or repaint?

 

[BenTen]

@spencepuppy No. This is just to identify the candlestick patterns.

 

[irfantastic000]

@BenTen I was not able to locate this pattern in TOS. Is this called with a different name?
How do I use the bullish pattern with 5 min chart? What parameters do I need to change?

 

[MerryDay]

@irfantastic000
Here ya go:
https://usethinkscript.com/threads/adding-tos-candle-patterns-to-charts.7395/

 

[irfantastic000]

@irfantastic000
Here ya go:
https://usethinkscript.com/threads/adding-tos-candle-patterns-to-charts.7395/

Thank you I was able to find and add the 3 white soldiers' patterns to the chart. Now I am trying to add this as a study for my scanner. It's not working for me. What should I be selecting here? This is for a 5-minute chart pattern.

https://imgur.com/a/9xlWDgZ

 

[MerryDay]

@irfantastic000 Currently, the only TOS-defined patterns available in the scanner are:

 

[irfantastic000]

@irfantastic000 Currently, the only TOS-defined patterns available in the scanner are:

So I am able to add using study, check the below screenshot. What should I be adding in length and trend setup?

https://imgur.com/a/gRyxdSv

 

[MerryDay]

@irfantastic000 the defaults are always a good place to start. If they don't fit your strategy then plug&play until you get it customized to your needs