New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.
reverse engineering bearish engulfing
I'm trying to reverse engineer the code Stockcharts uses for some of their candlesticks. It's quite difficult actually. I usually end up with not enough rules and end up with more candidates than the stockcharts predefined scan. Currently I'm working on the Bearish Engulfing candle and this is what I have:
[exchange is NYSE]
and [group is not ETF]
and [today's open > today's EMA(10, close)]
and [yesterday's close > yesterday's open]
and [today's high > yesterday's close]
and [today's close < today's open]
and [today's open > yesterday's close]
#not shooting star
and [high - open < [open - close]*2]
and [close - low < [open - close]*1]
#closing lower than yesterday's open
and [today's close < yesterday's open]
If you compare my code to the stockcharts predefined scan for bearish engulfing (NYSE) you will see my scan returns more stocks than the stockcharts predefined scan. Any obvious rules I'm missing here?