Coding Project 1

Putting a lot of what we’ve learned so far into practice, we’ll now code a strategy that buys on the popular bullish engulfing candlestick pattern.

Step:1 Define Quantifiable Rules

The first step is to define the pattern. Looking closer at the image above, we see that a bullish engulfing could be defined with a few conditions. 

1. The first candle is negative
2. The second candle opens with a negative gap
3. The second candle closes above the open of the previous candle.

Step 2: Translate the rules into Easylanguage

Now we translate the above three rules into Easylanguage.

1. Close[1]<open[1]
2. Open<close[1]
3. Close>open[1]

Step 3: Put it into an if-statement

Now we have the conditions and only need to put them into an if-statement, like below, coupled with an exit of your choice: