Candlestick: Piercing Line

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PiercingLine.efs  EFSLibrary - Discussion Board
  

File Name: PiercingLine.efs


Description:
Piercing Line


Formula Parameters:
Font: Arial Narrow
Font Size: 11
Font and Shape Color: Green
Font BgColor: White

Notes:
This is a bullish reversal pattern formed by two candlesticks. Following a downtrend, an up candlestick with a long real body is followed by a lower open on the next candlestick. This session finishes as an up candlestick and closes above the midpoint of the prior candlestick's real body. It is the reverse of the Dark Cloud.

Download File:
PiercingLine.efs




EFS Code:



/*********************************Provided By:      eSignal (Copyright c eSignal), a division of Interactive Data     Corporation. 2009. All rights reserved. This sample eSignal     Formula Script (EFS) is for educational purposes only and may be     modified and saved under a new file name.  eSignal is not responsible    for the functionality once modified.  eSignal reserves the right     to modify and overwrite this EFS file with each new release.   Description:            Piercing LineVersion:            1.0  12/24/2009Formula Parameters:                     Default:    Font                                Arial Narrow    Font Size                           11    Font and Shape Color                Green    Font BgColor                        White    Notes:    This is a bullish reversal pattern formed by two candlesticks. Following a downtrend,     an up candlestick with a long real body is followed by a lower open on the next     candlestick. This session finishes as an up candlestick and closes above the midpoint     of the prior candlestick's real body. It is the reverse of the Dark Cloud.**********************************/var fpArray = new Array();function preMain() {    setPriceStudy(true);    setStudyTitle("Piercing Line");    setShowCursorLabel(false);    setShowTitleParameters(false);    var x=0;    fpArray[x] = new FunctionParameter("nFontSize", FunctionParameter.NUMBER);	with(fpArray[x++]){        setName("Font Size")        setLowerLimit(6);		        setDefault(11);    }    fpArray[x] = new FunctionParameter("cFontColor", FunctionParameter.COLOR);    with(fpArray[x++]){        setName("Font and Shape Color");        setDefault(Color.green);    }        fpArray[x] = new FunctionParameter("cFontBgColor", FunctionParameter.COLOR);    with(fpArray[x++]){        setName("Font BgColor");        setDefault(Color.white);    }        fpArray[x] = new FunctionParameter("sFont", FunctionParameter.STRING);    with(fpArray[x++]){        setName("Font");        setDefault("Arial Narrow");    }    }function main(sFont, nFontSize, cFontColor, cFontBgColor) {    Find_PiercingLine(sFont, nFontSize, cFontColor, cFontBgColor);    return;}function Find_PiercingLine(sFont, nFontSize, cFontColor, cFontBgColor) {var nState = getBarState();var Open = open(0);var Close = close(0);var Open1 = open(-1);var Close1 = close(-1);var Low1 = low(-1);var nID = getCurrentBarCount();    if (nState == BARSTATE_ALLBARS) {        if (sFont == null) sFont = "Arial Narrow";        if (nFontSize == null) nFontSize = 11;        if (cFontColor == null) cFontColor = Color.green;        if (cFontBgColor == null) cFontBgColor = Color.white;    }    if (Close1 < Open1 &&        Open < Low1 &&        Close > Close1 + ((Open1 - Close1) / 2) &&        Close < Open1) {        drawTextRelative(0, BelowBar2, "PLine", cFontColor, cFontBgColor, Text.PRESET | Text.CENTER, sFont, nFontSize, "T"+nID);         drawShapeRelative(0, BelowBar1, Shape.UPARROW, null, cFontColor, Shape.PRESET, "S"+nID);    } else {        removeText("T"+nID);        removeShape("S"+nID);    }    return;}