hello to all .
i recently saw 9 of the 36 videos of ytc (lance beggs) on youtube on price bar reversals.
since most of the traders are comfortable in candlesticks. i request the same to be coded in candlestick .
this is not a complete tradeable system in itself so i request not to trade in insolation without the background information .
as evident from the name itself these are price reversal so ideally the setup should be a) a downtrend b) an uptrend c)an end of countertrend rally within context of larger trend .
i like to trade on an end of countertrend rally within context of larger trend .
i request the esteemed coders to make these as aesthetically nice as possible without cluttering the chart to maximum extent possible .
a bear reversal pattern may be coded as pink or bull reversal in color yellow .
for proper understanding of the patterns i am attaching the link to the youtube .
https://www.youtube.com/playlist?list=PLBA2F75F58A6382E9
i am also attaching the conditions of these one by one .
(I) REJECTION PATTERN
a) bearish --- rejection pattern conditions ;- single candle pattern
1) open and close must occur in lower third of price bar range. almost like inverted hammer .
b) bullish ---- rejection pattern conditions :- single candle pattern open
1) open and close must occur in upper thirs of price bar range --- like hammer.
(II) OPEN CLOSE REVERSAL PATTERN
a ) bearish --- open close reversal pattern -- minimum 2 candle pattern
conditions
1)a gap up is required forming higher high , higher low and higher close w.r.t previous candle . AND
2) open near high ( say 25 % ) of trading range and close near low ( say 25 %) of trading range of that candle
b ) bullish --- open close reversal pattern ---- minimum 2 candle patterns
conditions
1) a gap down is required forming lower high , lower low ,lower close , w.r.t
AND
2) open near low ( say 25 % ) of trading range and close near high ( say 25 %) of trading range of that candle
(III) CLOSING PRICE REVERSAL
a) bearish --- closing price reversal 2 candle pattern --- conditions
1) shud have higher high , higher low and lower close w.r.t previous candle AND
2) open near high ( say 25 %) of trading range of that candle and close near low ( say 25 )of trading range of that candle .
b) bullish ---- closing price reversal 2 candle pattern --- conditions
1) shud have lower high , lower low and higher close .w.r.t previous candle and
2)open near low ( say 25 %) of trading range of that candle and close near high ( say 25 )of trading range of that candle .
(IV) HOOK REVERSAL PATTERN
a) ) bearish --- hook reversal 2 candle pattern ---- conditions
1)shud be an inside bar w.r.t previous candle
2) open near high ( say 25 %) of trading range of that candle and close near low ( say 25 )of trading range of that candle .
b) bullish hook reversal 2 candle pattern ---- conditions
1) shud be an inside bar --- wrt previous candle
2)2)open near low ( say 25 %) of trading range of that candle and close near high ( say 25 )of trading range of that candle .
(V) KEY REVERSAL PATTERN
a)) bearish ---key reversal 2 candle pattern ---- conditions
1) shud be an outside bar --- wrt previous candle
2) open above previous close and close below previous low ( wrt previous candle )
b ) bullish key reversal 2 candle pattern ---- conditions
1)shud be an outside bar --- wrt previous candle
2)open below previous close and close above previous high ( wrt previous candle )
(VI) ISLAND REVERSAL PATTERN
a) bearish -- island reversal 3 candle pattern conditions ----
1)gap up to island doesnt close the gap and
2) gap down after island --doesnt close the gap
pl note --- open and close tabs is irrelevant and position of final bar refernce the end of tab is irrelevant
b ) bullish island reversal 3 candle pattern conditions ----
1)gap down to island doesnt close the gap
2) gap up after island --- doesnt close the gap
pl note --- open and close tabs is irrelevant and position of final bar refernce the end of tab is irrelevant .
the following video may be helpful in understanding island gap .
https://www.youtube.com/watch?v=Z0f9WEt3GME&index=8&list=PLBA2F75F58A6382E9
(VII) PIVOT REVERSAL PATTERN
a) bearish pivot point reversal . three bar pattern - V SHAPED REVERSAL conditions
1) sequence of lower high ,higher high and lower high and
2)the third candle shud close below the low of the second candle (ie) higher high candle
b ) bullish pivot point reversal three bar pattern --- v shaped reversal conditions
1) sequence of higher low , lower low and higher low
2) the third candle shud close above the high of the second candle ie lower low candle .
for more details the following video may be helpful for pivot point reversal
https://www.youtube.com/watch?v=271_wkv4Oto&list=PLBA2F75F58A6382E9&index=9
CONCLUDING REQUEST AND REMARKS ----
1) the above is not standalone trading system
2) i also request a scanner for this also
3) if some one can help in defining as to what is a down trend or up trend or a counter trend within context of a longer trend and code that condition in such case it will be much beneficiary for traders
4) the pivot reversal is somewhat similar to triads that i requested but not exactly similar
5) one afl for the all of above patterns will be appreciated
rgds
sumit
i recently saw 9 of the 36 videos of ytc (lance beggs) on youtube on price bar reversals.
since most of the traders are comfortable in candlesticks. i request the same to be coded in candlestick .
this is not a complete tradeable system in itself so i request not to trade in insolation without the background information .
as evident from the name itself these are price reversal so ideally the setup should be a) a downtrend b) an uptrend c)an end of countertrend rally within context of larger trend .
i like to trade on an end of countertrend rally within context of larger trend .
i request the esteemed coders to make these as aesthetically nice as possible without cluttering the chart to maximum extent possible .
a bear reversal pattern may be coded as pink or bull reversal in color yellow .
for proper understanding of the patterns i am attaching the link to the youtube .
https://www.youtube.com/playlist?list=PLBA2F75F58A6382E9
i am also attaching the conditions of these one by one .
(I) REJECTION PATTERN
a) bearish --- rejection pattern conditions ;- single candle pattern
1) open and close must occur in lower third of price bar range. almost like inverted hammer .
b) bullish ---- rejection pattern conditions :- single candle pattern open
1) open and close must occur in upper thirs of price bar range --- like hammer.
(II) OPEN CLOSE REVERSAL PATTERN
a ) bearish --- open close reversal pattern -- minimum 2 candle pattern
conditions
1)a gap up is required forming higher high , higher low and higher close w.r.t previous candle . AND
2) open near high ( say 25 % ) of trading range and close near low ( say 25 %) of trading range of that candle
b ) bullish --- open close reversal pattern ---- minimum 2 candle patterns
conditions
1) a gap down is required forming lower high , lower low ,lower close , w.r.t
AND
2) open near low ( say 25 % ) of trading range and close near high ( say 25 %) of trading range of that candle
(III) CLOSING PRICE REVERSAL
a) bearish --- closing price reversal 2 candle pattern --- conditions
1) shud have higher high , higher low and lower close w.r.t previous candle AND
2) open near high ( say 25 %) of trading range of that candle and close near low ( say 25 )of trading range of that candle .
b) bullish ---- closing price reversal 2 candle pattern --- conditions
1) shud have lower high , lower low and higher close .w.r.t previous candle and
2)open near low ( say 25 %) of trading range of that candle and close near high ( say 25 )of trading range of that candle .
(IV) HOOK REVERSAL PATTERN
a) ) bearish --- hook reversal 2 candle pattern ---- conditions
1)shud be an inside bar w.r.t previous candle
2) open near high ( say 25 %) of trading range of that candle and close near low ( say 25 )of trading range of that candle .
b) bullish hook reversal 2 candle pattern ---- conditions
1) shud be an inside bar --- wrt previous candle
2)2)open near low ( say 25 %) of trading range of that candle and close near high ( say 25 )of trading range of that candle .
(V) KEY REVERSAL PATTERN
a)) bearish ---key reversal 2 candle pattern ---- conditions
1) shud be an outside bar --- wrt previous candle
2) open above previous close and close below previous low ( wrt previous candle )
b ) bullish key reversal 2 candle pattern ---- conditions
1)shud be an outside bar --- wrt previous candle
2)open below previous close and close above previous high ( wrt previous candle )
(VI) ISLAND REVERSAL PATTERN
a) bearish -- island reversal 3 candle pattern conditions ----
1)gap up to island doesnt close the gap and
2) gap down after island --doesnt close the gap
pl note --- open and close tabs is irrelevant and position of final bar refernce the end of tab is irrelevant
b ) bullish island reversal 3 candle pattern conditions ----
1)gap down to island doesnt close the gap
2) gap up after island --- doesnt close the gap
pl note --- open and close tabs is irrelevant and position of final bar refernce the end of tab is irrelevant .
the following video may be helpful in understanding island gap .
https://www.youtube.com/watch?v=Z0f9WEt3GME&index=8&list=PLBA2F75F58A6382E9
(VII) PIVOT REVERSAL PATTERN
a) bearish pivot point reversal . three bar pattern - V SHAPED REVERSAL conditions
1) sequence of lower high ,higher high and lower high and
2)the third candle shud close below the low of the second candle (ie) higher high candle
b ) bullish pivot point reversal three bar pattern --- v shaped reversal conditions
1) sequence of higher low , lower low and higher low
2) the third candle shud close above the high of the second candle ie lower low candle .
for more details the following video may be helpful for pivot point reversal
https://www.youtube.com/watch?v=271_wkv4Oto&list=PLBA2F75F58A6382E9&index=9
CONCLUDING REQUEST AND REMARKS ----
1) the above is not standalone trading system
2) i also request a scanner for this also
3) if some one can help in defining as to what is a down trend or up trend or a counter trend within context of a longer trend and code that condition in such case it will be much beneficiary for traders
4) the pivot reversal is somewhat similar to triads that i requested but not exactly similar
5) one afl for the all of above patterns will be appreciated
rgds
sumit
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