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AlchemyBullReversal (Function)

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

AlchemyBullReversal (ClRange)

Parameters

ClRange

Specifies the current bar's range percentage above which the current bar needs to closer over.

Returns

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

Usage

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

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