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AlchemyBullishBar (Function)

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

AlchemyBullishBar (ClosingR)

Parameters

ClosingR

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

Returns

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

Usage

The Bullish Bar occurs when the closing price of the bar is above the opening price of that bar and closes in it’s upper range .  A bullish  bar indicates that there was upward price momentum when the bar closed and further increases in price are likely.

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