GravestoneDoji

Description

A Gravestone Doji is a candlestick with an upper shadow and equal open, low, and close prices.

Formula

GravestoneDoji(INPUT, Stringency=3, DojiPercentage=10)=begin

  retval = NONUM

  targetBar = 0

  bQtr = BodyBottomQuarter($1, targetBar)

  rbHigh = RealBodyHigh($1, targetBar)

  pLow = GetPrice($1, BATE_LOW, targetBar, 0)

  if DojiForm($1, targetBar, DojiPercentage) then begin

    if rbHigh < bQtr then begin

      if Stringency >= 3 then retval = '3'|clr_gray|below|vertical|ftiny|arrow

      if StarForm($1, targetBar) then begin

        if Stringency >= 2 then retval = '2'|clr_gray|below|vertical|ftiny|arrow

        if rbHigh == pLow then retval = 'GRAVESTONE'|clr_gray|below|vertical|ftiny|arrow

      end

    end

  end

  retval

end

Parameters

INPUT

The INPUT directive makes this formula available as a Formula Overlay. INPUT refers to the instrument in the chart.

Stringency

The Stringency argument is used by nearly all candlestick overlays. It controls how many tests must pass in the evaluation of a Gravestone Doji. The lower the number, the more strict the interpretation.

The Stringency argument is an overlay parameter. You can adjust it using the Parameters dialog. The default is 3.

DojiPercentage

The DojiPercentage parameter represents a percentage. This parameter serves as the basis for determining whether a candlestick is Doji or near Doji. The smaller the value assigned to DojiPercentage the more stringent the test. The default is 10, or ten percent.

Return Value

The return value is a string plot and varies depending on the value of the Stringency parameter.  The lower the number, the stronger the pattern.

The string plot for a fully qualified Gravestone Doji is "GRAVESTONE" rendered in gray below the candlestick.

Examples

Comments

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