what is the definition of "Bullish Long White Line"?
Author: tradercn
Creation Date: 7/22/2011 9:43 PM
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tradercn

#1
I want to create a strategy which is about the candle body height. I found "Bullish Long White Line" in the rules which is used to create strategies. But I don't know what is the definition for that. How long is it please?
Besides, I am looking for rules regarding gaps. For example, if there is an openning gap, 3% higher than the previous close, then enter a long position. Is that possible to create such strategy by rules? Or, I have to write a program for that.
Many thanks.
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Cone

#2
The "short" definition is included in the Rules definition window and also in the WS Programming Guide, but I'd like to find a way to add the gory details to the latter. I'm really not sure the best way to do that however because all the patterns are made from pieces of smaller patterns.

Here's an example for detecting Bullish Long White Line:

CODE:
Please log in to see this code.
Does that help?

Incidentally, WealthLab.Rules.Candlesticks.dll is not not obfuscated. So if you want to dig through the code with .NET Reflector or equivalent, it's no problem.
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tradercn

#3
From my understanding, Bullish Long White Line means:
1,(Open-Low)/(High-Low)<30%
2,(Close-Low)/(High-Low)>70%
3,(High-Low)> Previous ATR(10)
Can I ask you where you got this definition? Can I change that by myself?
I don't understand the last sentence you said, could you please explain further? Sorry, I am new here.
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Cone

#4
The source was from the Wealth-Lab Version 4 definitions. José Cruset authored those rules, but I don't know his source(s). Nonetheless, candlestick patterns are subjective when defining the quantities (e.g. Close must be 30% from the High) so there is no single correct source. In my recollection, Steve Nison, a foremost candlestick's author, provides only subjective definitions.

You can't modify these rules, but you can always create your own if they don't give you what you're looking for. No matter what you do, you'll find some patterns that you detect, but others that you don't detect but "look" to fit.
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tradercn

#5
Many thanks, Cone.
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