In this post, we’ll go through a Bullish and Bearish Marubozu Candlestick Pattern Amibroker AFL Code. The AFL code can be downloaded free of cost and imported into Amibroker.
Bullish and Bearish Marubozu Candlestick Pattern Overview
Images Reference: truedata.in
The Bullish Marubozu candlestick pattern is characterized by a long, solid body with little to no upper or lower wicks. In this pattern, the closing price is significantly higher than the opening price, indicating strong and sustained buying pressure throughout the entire trading session. Bullish Marubozu suggests a bullish market sentiment, showcasing a decisive upward movement.
On the contrary, the Bearish Marubozu candlestick pattern contains a long, solid body with minimal or no upper and lower wicks. The closing price in this pattern is notably lower than the opening price, signifying robust and continuous selling pressure during the entire trading session. Bearish Marubozu signals a bearish market sentiment, indicating a decisive downward movement in the asset’s price.
Both Bullish and Bearish Marubozu patterns are considered strong indicators of market direction, as they reflect dominant buying or selling forces with minimal retracement.
Also Read: Morning Start Candlestick Pattern Amibroker AFL Code
Bullish and Bearish Marubozu Candlestick Pattern Amibroker AFL Download
Please download the AFL code from this link. It can be readily imported into Amibroker.
Bullish and Bearish Marubozu Candlestick Pattern Amibroker AFL Screenshot
Check out the screenshot of this AFL below
AFL Explanation
- Parameters:
bodyFactoris a parameter that defines how much of the candle’s body needs to be filled to be considered a Marubozu. It’s set to 0.95, meaning at least 95% of the candle’s body should be filled. - Functions:
IsBullishMarubozu: Checks if a candle is a Bullish Marubozu. It looks at the size of the candle’s body, upper wick, and lower wick.IsBearishMarubozu: Checks if a candle is a Bearish Marubozu using similar criteria.
- Plotting:
- For Bullish Marubozu: An up arrow is plotted at the low of the candle if it satisfies the conditions.
- For Bearish Marubozu: A down arrow is plotted at the high of the candle if it satisfies the conditions.
In simpler terms, the code helps identify and visually highlight Bullish and Bearish Marubozu candlestick patterns on a price chart. Bullish Marubozu signifies strong buying momentum, and Bearish Marubozu indicates strong selling momentum. The arrows are plotted at the respective points to make it easier for traders to spot these patterns.
Also Read: How to plot a candlestick chart in an Excel Sheet?
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