Big Shadow reversal or continuation candle

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Hello sir,

I want to see if possible to build an scanner to look for BIG Shadow reversal or continuation pattern.

Basically in an uptrend the second candle must have a higher or equal top with a lower bottom. In a downtrend the second candle must have a lower or equal bottom with a bigger top.

Will this be possible?

 

Thanks in advance for your help.

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Posted by (Questions: 1, Answers: 1)
Asked on June 10, 2020 5:29 pm
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How is this different then the built-in Study Filter named (Bearish/Bullish) Engulfing pattern? Results look the same to me so until I get an explanation of how this is different I will assume I just provided the solution to this question.

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Posted by (Questions: 37, Answers: 4087)
Answered on June 10, 2020 5:59 pm
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Hello Pete, I might be wrong but for me an engulfing candle is only looking at the body of the candle, a Big Shadow candle looks at the whole candle including the tails of it. Please let me know if I was able to clarify the point. Thanks in advance for your help. Regards,
( at June 11, 2020 5:14 pm)
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Here is the definition provided by Thinkorswim: https://tlc.thinkorswim.com/center/reference/Patterns/candlestick-patterns-library/bearish-and-bullish/Engulfing After running the built-in scan and checking the results they looked exactly like the candles you marked on the chart.
( at June 11, 2020 5:42 pm)
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