Sushi Roll by Mark Fisher

M

Miket

Member
Does anyone have this reversal indicator:

Candlestick pattern consisting of 10 bars where the first five, the inside bars, are confined within a narrow range of highs and lows and the second five, or the outside bars, engulf the first with both a higher high and lower low. If a sushi roll appears in a prevailing trend, it is a sign that there may be an upcoming trend reversal.

Below is an indicator that I think can be adjusted to make it a Sushi Roll indicator.

Code:
# Bullish/ Bearish Engulfing Alerts (Oversold/ Overbought)

# Use with caution and in context of market.
# Make sure to adjust settings that fits you best.

# By Confluence Capital Group @ConfluenceCptl - 2017-12-04
# Addendum & thanks from @M0101X

input length = 14;
input over_Bought = 75;
input over_Sold = 25;
input price = close;
input averageType = AverageType.WEIGHTED;

#defining engulfing bars
def BodyMax = Max(open, close);
def BodyMin = Min(open, close);
def IsEngulfing = BodyMax > BodyMax[1] and
BodyMin < BodyMin[1];

#defining the bullish / bearish signals

def bullish_signal = RSI(length = length, averageType = averageType) < over_Sold and Isengulfing and close > open;

def bearish_signal = RSI(length = length, averageType = averageType) > over_Bought and Isengulfing and close < open;

#plotting the bullish / bearish signals
plot bullish = bullish_signal;
bullish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullish.SetDefaultColor(Color.CYAN);
bullish.SetLineWeight(2);

plot bearish = bearish_signal;
bearish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearish.SetDefaultColor(Color.YELLOW);
bearish.SetLineWeight(2);
 
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