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