Indicator CandleInd with Pattern Name "Bearish Shooting Star" is being signaled on candles with long bottom tails and not long top tails. According to many resources on the internet and numerous books, the pattern is a long top tail, a smallish body and practically no bottom tail.
If you backtest the following simple strategy and pan through the results, you'll see it is picking-off long bottom tails.
WL8 build 59
Candlesticks build 9
If you backtest the following simple strategy and pan through the results, you'll see it is picking-off long bottom tails.
WL8 build 59
Candlesticks build 9
Rename
Hmm yes indeed. I'll get it rectified for the next Candlesticks release.
If you want to fix it right away, open the WL Data Folder (from the File menu), and edit the CandlePatterns.txt file within that folder.
Modify the line as follows:
Bearish Shooting Star=T:U.RL:L.BL:S.P:CnO.P:CnL.SL:-N
Then save and restart WL8.
If you want to fix it right away, open the WL Data Folder (from the File menu), and edit the CandlePatterns.txt file within that folder.
Modify the line as follows:
Bearish Shooting Star=T:U.RL:L.BL:S.P:CnO.P:CnL.SL:-N
Then save and restart WL8.
I opened the WL Data Folder from the file menu. There is no CandlePatterns.txt file within that folder (C:\Users\Paul\AppData\Roaming\WealthLab8).
I searched all *.txt files on my entire hard drive for Bearish Shooting Star and the only file containing that text is C:\Users\Paul\AppData\Roaming\WealthLab7\CandlePatterns.txt. I uninstalled WealthLab7 long ago.
I shutdown WL8, re-downloaded (from the website) the Candlestick extension, installed it, and restarted WL8. Still, there is no C:\Users\Paul\AppData\Roaming\WealthLab8\CandlePatterns.txt. And, after again searching the entire hard drive, the only *.txt file containing Bearish Shooting Star is in the aforementioned WL7 folder.
However, I searched the DLLs in C:\Program Files\Quantacula, LLC and sub-folders. The text Bearish Shooting Star is in C:\Program Files\Quantacula, LLC\WealthLab 8\WealthLab.Candlesticks.dll.
I searched all *.txt files on my entire hard drive for Bearish Shooting Star and the only file containing that text is C:\Users\Paul\AppData\Roaming\WealthLab7\CandlePatterns.txt. I uninstalled WealthLab7 long ago.
I shutdown WL8, re-downloaded (from the website) the Candlestick extension, installed it, and restarted WL8. Still, there is no C:\Users\Paul\AppData\Roaming\WealthLab8\CandlePatterns.txt. And, after again searching the entire hard drive, the only *.txt file containing Bearish Shooting Star is in the aforementioned WL7 folder.
However, I searched the DLLs in C:\Program Files\Quantacula, LLC and sub-folders. The text Bearish Shooting Star is in C:\Program Files\Quantacula, LLC\WealthLab 8\WealthLab.Candlesticks.dll.
It looks like the file will only get generated if you save a pattern from the candlestick evolver to your library. But I plan to release the extension fix a bit later today.
Steps performed...
I ran WL8.
I ran the Candlestick Genetic Evolver.
I started the Genetic Evolver to create some patterns.
I added a pattern to the pattern library.
File C:\Users\Paul\AppData\Roaming\WealthLab8\CandlePatterns.txt was created.
I exited WL8.
I edited file C:\Users\Paul\AppData\Roaming\WealthLab8\CandlePatterns.txt in notepad++ and changed the Bearish Shooting Star pattern to the one you supplied Post #1. I saved the file.
I restarted WL8.
I reran the test strategy I supplied in my original post. It still picked off the wrong candles.
I removed the Indicator condition from the Short at Market block. I saved the strategy. I put back the condition (CandleInd Bearish Shooting Star) into the Short at Market block. I saved the strategy.
I reran the strategy - same problem, same results.
I checked the Bearish Shooting Star specification you supplied in Post #1 against the WL8 help text. The specification you supplied appears to be correct.
I restarted WL8 and reran the strategy - same problem.
I exited WL8. I backed-up file C:\Users\Paul\AppData\Roaming\WealthLab8\CandlePatterns.txt and then deleted the original.
I reran WL8 and reran the test strategy. It produced the exact same results as having CandlePatterns.txt in the WL8 data folder.
I exited WL8. I restored CandlePatterns.txt. I validated it was in the WL8 data folder. I checked the content in notepad++ and the Bearish Shooting Star appears as you specified:
Bearish Shooting Star=T:U.RL:L.BL:S.P:CnO.P:CnL.SL:-N
I reran the test strategy. The problem still exists.
From this testing, it seems that WL8 is still using the definition that is in the DLL and not in the CandlePatterns.txt file.
Example of what it recognized:
I ran WL8.
I ran the Candlestick Genetic Evolver.
I started the Genetic Evolver to create some patterns.
I added a pattern to the pattern library.
File C:\Users\Paul\AppData\Roaming\WealthLab8\CandlePatterns.txt was created.
I exited WL8.
I edited file C:\Users\Paul\AppData\Roaming\WealthLab8\CandlePatterns.txt in notepad++ and changed the Bearish Shooting Star pattern to the one you supplied Post #1. I saved the file.
I restarted WL8.
I reran the test strategy I supplied in my original post. It still picked off the wrong candles.
I removed the Indicator condition from the Short at Market block. I saved the strategy. I put back the condition (CandleInd Bearish Shooting Star) into the Short at Market block. I saved the strategy.
I reran the strategy - same problem, same results.
I checked the Bearish Shooting Star specification you supplied in Post #1 against the WL8 help text. The specification you supplied appears to be correct.
I restarted WL8 and reran the strategy - same problem.
I exited WL8. I backed-up file C:\Users\Paul\AppData\Roaming\WealthLab8\CandlePatterns.txt and then deleted the original.
I reran WL8 and reran the test strategy. It produced the exact same results as having CandlePatterns.txt in the WL8 data folder.
I exited WL8. I restored CandlePatterns.txt. I validated it was in the WL8 data folder. I checked the content in notepad++ and the Bearish Shooting Star appears as you specified:
Bearish Shooting Star=T:U.RL:L.BL:S.P:CnO.P:CnL.SL:-N
I reran the test strategy. The problem still exists.
From this testing, it seems that WL8 is still using the definition that is in the DLL and not in the CandlePatterns.txt file.
Example of what it recognized:
Yes my bad, it's been a while since I've had my hands on this Extension. We keep the standard library patterns locked in case we need to (like in this case) change one of the definitions.
The Candlestick Extension Build 10 is out which fixes the Bearish Shooting Star.
The Candlestick Extension Build 10 is out which fixes the Bearish Shooting Star.
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