Outside Bar FinderOutside bars occur when the range of a candlestick falls entirely outside of the previous candlestick's range. This indicates indecision and volatility expansion which often leads to changes in trend direction.
This indicator includes options such as:
- The number of consecutive outside bars required to trigger the indicator
- An arrow indicating whether the outside bar is bullish or bearish
- Signal lines to indicate the high and low of the outside bar
Try out this indicator with different options on different timeframes to see if outside bars increase the probability of identifying changes in trend. Breaks or closes outside the signal lines can be used to trigger trade signals.
Outsideday
Outside DayThis strategy is taken from Perry Kaufman's book "Trading System and Methods".
You can enter on the direction of the candle, or opposite to it. I find that the opposite tends to yield better results in volatile assets, allowing a better reward to risk ratio. There is no stop loss in this strategy, only a fixed take profit and a time limitation.
Engulfing/Outside BarThis indicator provides a statistical report on the Engulfing/ Outside Bar candlestick pattern. Based on the chart's bars, it can improve your edge on any markets and timeframes.
Knowing there are many definitions about the Engulfing/ Outside Bar pattern, here we're strictly referring to one bar's body engulfing one other AND making a higher high and lower low.
The report is broken down into the different following sections: retracement , invalidation , continuation and breakout .
Each of them provides hindsights about the pattern price behavior and brings answers to questions such as: How often does price retrace? Does the pattern often invalidate? If it doesn't then does it break in the pattern's direction? How far does price go? What are the odds of a false breakout?
While there are many ways to make use of the metrics, my favorite use case is for developing directional and daily/weekly biases while refining my stop/entry/target positioning.
Miscellaneous
Highlights patterns on the chart;
Supports bar to bar analysis and replay functionalities;
Provides counts on the `Data Window` panel for debugging or computing your own metrics;
Settings
Option for filtering patterns that close outside previous bar;
Show/hide for toggling different sections;
Report coloring and offset on the x axis;
Gaining Access
This is a private indicator and is available only for my Patrons. You can reach my Patreon page below from the link in my signature.
Outside BarThis indicator provides a statistical report on the Outside Bar candlestick pattern. Based on the chart's bars, it can improve your edge on any markets and timeframes.
Knowing there are many definitions about the Outside Bar pattern, here we're strictly referring to one bar's extremes beyond one other.
The report is broken down into the different following sections: retracement , invalidation , continuation and breakout .
Each of them provides hindsights about the pattern price behavior and brings answers to questions such as: How often does price retrace? Does the pattern often invalidate? If it doesn't then does it break in the pattern's direction? How far does price go? What are the odds of a false breakout?
While there are many ways to make use of the metrics, my favorite use case is for developing directional and daily/weekly biases while refining my stop/entry/target positioning.
Miscellaneous
Highlights patterns on the chart;
Supports bar to bar analysis and replay functionalities;
Provides counts on the `Data Window` panel for debugging or computing your own metrics;
Settings
Option for filtering patterns that close outside previous bar;
Show/hide for toggling different sections;
Report coloring and offset on the x axis;
Gaining Access
This is a private indicator and is available only for my Patrons. You can reach my Patreon page below from the link in my signature.
Phi35 - Candlestick Reversal Patterns V1 ©Candlestick Reversal Pattern V1 by Phi35 - 9rd September 2016 ©
Check also my " Candlestick Continuation Pattern " indicator which will follow soon!
Do not modify the code without my permission!
If there is an issue or any suggestions, feel free to contact me on the link below
www.tradingview.com
www.tradingview.com
It seems to work well but still no guarantee on completeness!
RISK WARNING! PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. IN MAKING AN INVESTMENT DECISION, TRADERS MUST RELY ON THEIR OWN EXAMINATION OF THE ENTITY MAKING THE TRADING DECISIONS!
Wait always for confirmation (next opening price or closing price)!!
RECOGNIZABLE REVERSAL PATTERNS
01.Engulfing
02.Harami
03.Piercing Line
04.Morning Star
05.Evening Star
06.Belt Hold
07.Three White Soldiers
08.Three Black Crows
09.Three Stars in the South
10.Stick Sandwich
11.Meeting Line
12.Kicking
13.Ladder Bottom
Although the Engulfing and Harami Patterns are important but can occur too often and give false signals, I give you the option to turn them completely off.
