Potential Bullish/Bearish Reversals

[SHJ]

Hi Team,

I wish you all a prosperous 2025!

I recently joined UTS and I am still green when it comes to coding. Given that, I am wondering if someone can help me develop a script where arrows appear above and below the price candles when the following three conditions are met for the following potential reversals:

Potential Bullish Reversal

The Close of the 3rd Candle is < than its Open

AND

The Open of the 2nd Candle is = or < than the Close of 3rd Candle AND the Close of this 2nd Candle is < than its Open

AND

The Open of the Current Candle is = or > than the Close of 2nd Candle AND the Close (or Last) of this Current Candle is > than its Open


Potential Bearish Reversal

The Close of the 3rd Candle is > than its Open

AND

The Open of the 2nd Candle is = or > than the Close of 3rd Candle AND the Close of this 2nd Candle is > than its Open

AND

The Open of the Current Candle is = or < than the Close of the 2nd Candle AND the Close (or last) of the Current Candle is < than its Open


Thank you in advance for your help and support!

 

[Svanoy]

Will not signal until close of last bar, confirming signal.

def RedBar = open>close;
def GreenBar = open<close;

def ThreeBarBull = GreenBar[1] and open[1]>=close[2] and RedBar[2] and open[2]<=close[3] and RedBar[3];
def ThreeBarBear = RedBar[1] and open[1]<=close[2] and GreenBar[2] and open[2]>=close[3] and GreenBar[3];

plot ThreeBarBullPlot = ThreeBarBull[-1];
ThreeBarBullPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
ThreeBarBullPlot.SetDefaultColor(Color.Green);

plot ThreeBarBearPlot = ThreeBarBear[-1];
ThreeBarBearPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
ThreeBarBearPlot.SetDefaultColor(Color.Red);

 

[SHJ]

Will not signal until close of last bar, confirming signal.

def RedBar = open>close;
def GreenBar = open<close;

def ThreeBarBull = GreenBar[1] and open[1]>=close[2] and RedBar[2] and open[2]<=close[3] and RedBar[3];
def ThreeBarBear = RedBar[1] and open[1]<=close[2] and GreenBar[2] and open[2]>=close[3] and GreenBar[3];

plot ThreeBarBullPlot = ThreeBarBull[-1];
ThreeBarBullPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
ThreeBarBullPlot.SetDefaultColor(Color.Green);

plot ThreeBarBearPlot = ThreeBarBear[-1];
ThreeBarBearPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
ThreeBarBearPlot.SetDefaultColor(Color.Red);

Thank you so much, @Svanoy! I appreciate your time and support.