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Custom Studies
Name: Piercing pattern
Description:
The Piercing pattern is a reversal pattern during the transition from a bearish trend to a bullish one. The Piercing pattern is made up by two candlesticks and appears during a bearish market. The first candlestick has a black body and the second candlestick has a long white body. The white candlestick opens much earlier than the price low of the preceeding black candlestick. Then the price goes up, thus forming a relatively long white body that is engulfed up to a point that is higher than the middle of the black candlestick.
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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