CSPStomach: Above/Below The Stomach Candlestick Pattern

In candlesticks: Candlestick Pattern Recognition

Description

Look for Above/Below The Stomach Pattern in a Open/Close Time Series

Usage

CSPStomach(TS)

Arguments

TS	xts Time Series containing Open and Close Prices

Details

Number of candle lines: 2

Above The Stomach:
Prior trend: down
A black candle followed by a white candle. The opening price of the second day must be at or above the mid point of the first candle's body.

Below The Stomach:
Prior trend: up
A white candle followed by a black candle. The opening price of the second day must be at or below the mid point of the first candle's body.

Value

A xts object containing the columns:

AboveTheStomach	TRUE if Above The Stomach pattern detected
BelowTheStomach	TRUE if Below The Stomach pattern detected

Note

The function filters patterns that look like above/below the Stomach, without considering the current trend direction. If only above the Stomach pattern in downtrends should be filtered, a external trend detection function must be used. See examples.

Author(s)

Andreas Voellenklee

References

The following site(s) were used to code/document this indicator:
http://www.thepatternsite.com/AboveStomach.html
http://www.thepatternsite.com/BelowStomach.html

Examples

## Not run: 
  getSymbols('YHOO',adjust=TRUE)
  CSPStomach(YHOO)
  
  # filter above the Stomach pattern in downtrends
  CSPStomach(YHOO)[,"AboveTheStomach"] & TrendDetectionChannel(lag(YHOO,k=2))[,"DownTrend"]

## End(Not run)

candlesticks documentation built on Feb. 2, 2020, 3:01 a.m.