Candlestick: Piercing Line

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 12/24/2009
Formula 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;
}