Hi,

i have tried to code the following candlestick pattern, but have not yet reached a solution for the problem.

The Parameter are as follows:

- Chart period is monthly
- Bollinger Bands with the Parameters 16 periods and Standard Deviation of 2.0 are used

- The Chart Pattern is as follows:
The first candle CLOSES outside the upper Bollinger Band. After that, the second candle must CLOSE inside the Bollinger Bands AND must be a red candle.

I would like to scan for this pattern to find out, if this pattern could be sign of a reversal or end of a trend.


Thanks in advance for your help, it is much appreciated. And if you have any questions left, please do not hesitate to ask.


Greetings,

Steffen

Steffen,

Here's the scanner as requested. Switch bar scale to Monthly before using:

CODE:
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Hi Eugene,

i just switched this

CODE:
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to

CODE:
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Now it works great and does what expected. Thanks a lot for your fast answer and help.


Regards,

Steffen

Sorry for the typo, post above has been edited.

Glad to have helped.