While stockfetcher provides a few tools for locating candle stick patterns and also offers a number of pre-built candle patterns, the best way to build a candle pattern is with a phrase. The key to building candlestick screens is an understanding of the comparison of day high/low/open/closing values between other days.
For example, a screen for a bar setup or candle pattern might want to find a point where a close is above a prior day's close. To do this, the comparison of close to close 1 day ago is needed.
To search the previous day instead:
The same can be used with high, low, or open as well. Say you're looking for stocks where the close is above the prior day's close but the high is below the prior day's high:
Another common comparison with candlestick patterns is comparing the body (close/open) regardless of whether the close is above the open. To do this, a few set statements will help out:
So, lets assume you wish to compare two different body_tops:
To find stocks where the last day's body engulf's the prior day's body, you might use:
Here are some more examples:
Example using high/low/close:
Example comparing tail, head and body sizes:
Here is a sample filter for a weekly "Inverted Hammer":
5 Candlestick bars down:
Note: this example uses a pre-built candle pattern.
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