To detect if high/low exceed BBands - we use:
Buy = Low < BBandBot(Close);
Sell = High > BBandTop(Close);
On the other hand - to check if the candle body moves above/below
BBands - use the following formula:
Buy = Max(Open, Close) < BBandBot(Close);
Sell = Min(Open, Close) > BBandTop(Close);
Over and above this, I want to build a exploration called candle
recognition.
I trust patterns like hammers, hanging man, doji ( gravestone etc),
darkcloud cover, piercing pattern, evening and morning star.
I want to create an exploration, wherein the price outside BB is
scanned as well as the price bar is recognized as a candle pattern
mentioned above.
Kindly help.
Rgds
Mithil Pradhan
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