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Custom Studies
Name: Dark-cloud cover
Description:
Dark-Cloud Cover consists of two candlesticks that appear after a bullish move or next to the upper border of the trading range, signaling a reversal at the peak. On the first day, a candlestick with a strong white body appears. On the next day, the open price exceeds the high of the previous trading day (i.Ś. it's higher than the upper shadow of the first candlestick). However, toward the end of the day, the close price is close to the day's low and covers a considerable part of the previous candle's white body. The lower is the close price of the second candle (or the larger is the part of the white body that is covered by the black body of the second candle), the greater is the likelihood of a peak forming. Some Japanese experts believe that the close price of the black candle must cover more than 50% of the white body. If the close price of the black candle doesn't reach the 50% mark, one should wait for more signals, confirming the likelihood of a bearish move.

Syntax: o\1\<=c\1\ and c<o and 0.5*(c\1\+o\1\)>c and c\1\<o and o\1\>o\2\ and
c\1\>c\2\ and c\2\>c\3\ and c\-1\<c\


Download to import into Tradecision.

How to use this custom study in Tradecision:
  1. Click Download.
  2. Save this study in a safe location on your hard drive.
  3. Open Tradecision and in the Tools menu click the Study Builder.
  4. In the Study Builder dialog, click Import, locate the saved file and then click OK. Now you can insert the study directly into a price chart or modify it like any other study.
 
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