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AlchemyBearishBar (Function)

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

AlchemyBearishBar (ClosingR)

Parameters

ClosingR

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

Returns

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

Usage

The Bearish Bar occurs when the closing price of the bar is below the opening price of that bar and closes in it’s lower range.  A Bearish Bar indicates that there was downward price momentum when the bar closed and further decreases in price are likely.

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