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AlchemyBearReversal (Function)

AlchemyBearReversal identifies a bearish reversal bar.  If the criteria of a bearish reversal bar is met, the AlchemyBearReversal function returns 1, otherwise a -1 will be returned.

AlchemyBearReversal (ClRange)

Parameters

ClRange

Specifies the current bar's range percentage below which the current bar needs to closer under.

Returns

If the criteria of a bearish reversal bar is met, the AlchemyBearReversal function returns 1, otherwise a -1 will be returned.

Usage

The Bearish Reversal Pattern is a chart pattern that is very indicative of trend direction, and has been used for many years by chart analysts.  The Bearish Reversal Pattern will indicate a change, or reversal, in trend to the downside.  In fact, the resistance level concept is basic in recognizing chart patterns.

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