Bearish Harami (for Short Trades)
The strategy is based on 2 candlestick patterns.
A sell signal is generated when the following conditions occur over the previous 2 candles –
1.The overall trend is up
2.A green candle is followed by a red candle
3.The high and low of the red candle is lesser than the close and open of the previous green candle
The strategy is useful to identify short trades only. The Buy signal (as defined by the Buy Script) given here is based on an arbitrary logic, consider the Buy Script as a place holder here. The trader can define his own buy logic. For example buy after realizing 5% profits.