Candlestick Patterns With EMA
Thanks to repo32 as I embellished on his script "Candlestick patterns Identified" I also copied code ideas from DavidR
and Chris Moody. I have huge respect for you guys who publish script with such ease. My coding is a work in progress.
This script still needs improving. So let me know if you have suggestions.
The whole idea was to present these patterns in context of Steve Bigalow's work. I hope it helps in some way.
//Created by Robert Waddell with special thanks to repo32 for his cndlestick ID code, DavidR for EMA code and Chris Moody for barcolor code. //6/5/15 //Candlestick analysis with buy signals //If a Bullish candelstick signal is confirmed by a close above the 8 EMA, a buy signal is generated. //If a Bearish candlestick signal is confirmed by a close below the 8 EMA, a sell signal is generated. //Candlestick patterns are identified above or below the price action. study(title ="Candlestick Patterns With EMA", overlay = true) shb = input(false, title="Show Highlight Bar if close above/below TLine") TLineEMA = input(8, minval=1, title="Trigger Line") TLine = ema(close, TLineEMA) ms = (close[2] < open[2] and max(open[1], close[1]) < close[2] and open > max(open[1], close[1]) and close > open ) plotshape(ms, title= "Morning Star", location=location.belowbar, color=lime, style=shape.arrowup, offset=-1, text="Morn\nStar") ss = (open[1] < close[1] and open > close[1] and high - max(open, close) >= abs(open - close) * 3 and min(close, open) - low <= abs(open - close)) plotshape(ss, title= "Shooting Star", location=location.belowbar, color=lime, style=shape.arrowup, text= "Shoot\nStar") beh = (close[1] > open[1] and open > close and open <= close[1] and open[1] <= close and open - close < close[1] - open[1] ) plotshape(beh, title= "Bearish Harami", color=orange, style=shape.arrowdown, text="Bear\nHarami") blh = (open[1] > close[1] and close > open and close <= open[1] and close[1] <= open and close - open < open[1] - close[1] ) plotshape(blh, title= "Bullish Harami", location=location.belowbar, color=lime, style=shape.arrowup, text="Bull\nHarami") bee = (close[1] > open[1] and open > close and open >= close[1] and open[1] >= close and open - close > close[1] - open[1] ) plotshape(bee, title= "Bearish Engulfing", color=orange, style=shape.arrowdown, text="Bearish\nEngulf") ble = (open[1] > close[1] and close > open and close >= open[1] and close[1] >= open and close - open > open[1] - close[1] ) plotshape(ble, title= "Bullish Engulfing", location=location.belowbar, color=lime, style=shape.arrowup, text="Bullish\nEngulf") upper = highest(10)[1] ps = (close[1] < open[1] and open < low[1] and close > close[1] + ((open[1] - close[1])/2) and close < open[1]) plotshape(ps, title= "Piercing Line", location=location.belowbar, color=lime, style=shape.arrowup, text="Pierc\nSig") blk = (open[1]>close[1] and open>=open[1] and close>open) plotshape(blk, title= "Bullish Kicker", location=location.belowbar, color=lime, style=shape.arrowup, text="Bull\nKick") bek = (open[1]<close[1] and open<=open[1] and close<=open) plotshape(bek, title= "Bearish Kicker", color=orange, style=shape.arrowdown, text="Bear\nKick") dcc = ((close[1]>open[1])and(((close[1]+open[1])/2)>close)and(open>close)and(open>close[1])and(close>open[1])and((open-close)/(.001+(high-low))>0.6)) plotshape(dcc, title= "Dark Cloud Cover", color=orange, style=shape.arrowdown, text="Dark\nCloud") plot(TLine, color=yellow, title="T-Line EMA", linewidth=1) aboveTLine = close > TLine ? 1 : 0 belowTLine = close < TLine ? 1 : 0 barcolor(ms and belowTLine ? fuchsia : na) barcolor(bek and belowTLine ? fuchsia : na) barcolor(ps and aboveTLine ? lime : na) barcolor(blk and aboveTLine ? yellow : na) barcolor(ble and aboveTLine ? lime : na)