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Bullish Engulfing Candlestick Pattern for Metastock
greg123
about 9 years ago
Metastock

Rating:
0 / 5 (Votes 0)
Tags:
metastock, candlestick, pattern

A bullish engulfing pattern is a chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely eclipses or “engulfs” the previous day’s candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire candlestick from the previous day.

Indicator / Formula

Copy & Paste Friendly
If(Ref(OPEN,-1)>Ref(C,-1),
If(C-OPEN>(Mov(Abs(OPEN-C),10,S)),
If(C>Ref(OPEN,-1),
If(Ref(Abs((OPEN+C)/2),-1)<Ref(Mov(C,10,E),-1),
If(OPEN<Ref(C,-1),1,0),0),0),0),0)

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