DYO: Candle Recognition

The following example color codes different specific Candle formations.  This is a clever use of the new Ensign Rockets™ and Ensign's powerful Design Your Own Study feature.

Line A detects the Doji formation, where the Close price equals the Open price, and labels this candle with the letter D.

Line B detects the Hammer formation, where Close and Open are in the upper part of the range.  Body is colored magenta.

Line C detects the Gravestone formation, where Close and Open are in the lower part of the range.  Body is colored yellow.

Line D detects a strong up move.  Close and Open are in the outer extremes of the candle range.  Body is colored green.

Line E detects a strong down move.  Close and Open are in the outer extremes of the candle range.  Body is colored red.

Line F detects a Spinner formation, where both Close and Open are in the middle of the range.  Body is colored cyan.

The Number field values control the # percentages for the tests, and can be adjusted to suit your personal preferences.

This example is available as the CandleRecognition template which can be downloaded from Ensign's web site using the Internet Services form.