Reversal scanner for weekly

mikewest

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Please forgive me I'm new and the scan i'm looking for is probably already here but I dont know the terminology to find it.
Looking for a scanner that studies the last 4 candles on the weekly chart. The 3rd red candle would close lower than 4th red candle, 2nd red candle close lower than 3rd red candle, 1st candle (Last) would open lower than 2nd candle but turned green and have above average volume on last candle.
 

BenTen

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@mikewest Do you have a screenshot of this sort of pattern on an actual stock chart? I'd imagine you can easily build a scanner for this through the Candlestick Pattern Editor.

LvdqSjU.png
 

mikewest

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The 3 red candles need to be lower close than week before then the green candle open lower than week before but turns green with higher volume than average

4BM9e4t.jpg
 
Last edited by a moderator:

mikewest

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yes im wrong so what i want is it has to open below previous low. the previous candle low was 322.6 so it would have to be lower than that. so change close to previous low? and then tell me how much i owe you Thanks
 
Last edited:

BenTen

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@mikewest I think this is what you're asking for:

Code:
# Weekly Reversal Pattern
# Based on the request of @mikewest
# Assembled by BenTen at UseThinkScript.com

def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);
plot PatternPlot =
    IsDown[3] and
    IsDown[2] and
    IsDown[1] and
    IsUp[0] and
    close[3] >= close[2] and
    low[1] > open[0] and
    close[2] >= close[1];

PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
PatternPlot.SetDefaultColor(GetColor(0));

GaRZMHK.png
 

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