WHAT IS THE PHP DAYTRADER’S CANDLESTICK PATTERN HUNTER SCRIPT?
The PHP Daytrader’s Candlestick Pattern script is a “powerful” PHP / jQuery / Javascript script takes a FREE near-real time stock quote feed (from Tradier.com) to build a “live” full featured highstock combination chart (see Highsoft) that shows a stock’s “price action” in a reponsive webpage that can be monitor in a desktop, laptop, tablet or mobile computer/phone. Candlesticks are generated every minute (5 or 15 mins – delayed quotes) for any stock in the NYSE, Nasdaq and any others found in the following list of exchanges (click here for all the exchanges Tradier.com supports). In addition to displaying a stock’s price action, this script also hunts for the most common candlestick patterns and flags them in the chart, for daytraders to use to forecast behavior (bullish, bearish, neutral) of all the stock’s in their portfolio. This script is configurable so that daytraders can also define their very own patterns to monitor for also!
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Compared to traditional bar charts, many traders consider candlestick charts more visually appealing and easier to interpret. Each candlestick provides an easy-to-decipher picture of price action. Immediately a trader can compare the relationship between the open and close as well as the high and low. The relationship between the open and close is considered vital information and forms the essence of candlesticks. |
Candlestick patterns are a series of consecutive candlesticks that can be used to forecast future behavior of a stock – uptrend, downtrend, reversal, breakaways, consolidations, etc. See next section for more details.
WHICH PATTERNS WILL THIS SCRIPT HUNT FOR “OUT OF THE BOX”?
This script hunts for known candlestick patterns that are used by traders to predict the behavior of the stock. The following is the list of these patterns:
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DOJI (neutral) – Dojis form when a security\’s open and close are virtually equal. The length of the upper and lower shadows can vary, and the resulting candlestick looks like, either, a cross, inverted cross, or plus sign. Doji convey a sense of indecision or tug-of-war between buyers and sellers. Prices move above and below the opening level during the session, but close at or near the opening level. |
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DRAGONFLY DOJI (bullish) – A Doji where the open and close price are at the high of the day. Like other Doji patterns, this one normally appears at market turning points. |
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GRAVESTONE DOJI (bearish) – A doji line that develops when the Doji is at, or very near, the low of the day.. |
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HAMMER (bullish) – A hammer is a price pattern in candlestick charting that occurs when a security trades significantly lower than its opening, but rallies later in the day to close either above opening price. This pattern forms a hammer-shaped candlestick, in which the body is at least half the size of the tail or wick. It\’s is to referred to as a hammer, when this pattern occurs after a downtrend and a hanging man after a uptrend. |
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GRAVESTONE DOJI (bearish) – A doji line that develops when the Doji is at, or very near, the low of the day.. |
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HANGING MAN (bearish) – A hanging man is a bearish candlestick pattern that forms at the end of an uptrend. It is created when there is a significant sell-off near the market open, but buyers are able to push this stock back up so that it closes near (but below) the opening price. Generally, the large sell-off is seen as an early indication that the bulls (buyers) are losing control and demand for the asset is waning. |
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PIERCING PATTERN (bullish) – A technical trading signal that is marked by a closing down day with a good-sized trading range, followed by a trading gap (drop) lower the following day that covers at least half of the upward length of the previous day\’s real body (the range between the opening and closing prices), and then closes up for the day. A piercing pattern often signals the end of a small to moderate downward trend. |
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DARK CLOUD (bearish) – A technical trading signal that is marked by a closing up day with a good-sized trading range, followed by a trading gap (rise) higher the following day that covers at least half of the downward length of the previous day\’s real body (the range between the opening and closing prices), and then closes down for the day. A piercing pattern often signals the end of a small to moderate upward trend. |
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BEARISH HARAMI (bearish) – A bearish Harami is a trend indicated by a large green candlestick followed by a much smaller red candlestick with a that body is located within the vertical range of the larger geen candle body. Such a pattern is an indication that the previous upward trend is coming to an end. |
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BULLISH HARAMI (bullish) – A bullish Harami is a trend indicated by a large red candlestick followed by a much smaller green candlestick with a that body is located within the vertical range of the larger red candle body. Such a pattern is an indication that the previous downward trend is coming to an end. |
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BULLISH ENGULFING (bullish) – A bullish engulfing pattern is a chart pattern that forms when a small red candlestick is followed by a large green candlestick that completely eclipses or engulfs the previous candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire candlestick from the previous cycle. Such a pattern is an indication that the previous downward trend is coming to an end. |
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BEARISH ENGULFING (bullish) – A bearish engulfing pattern is a chart pattern that forms when a small green candlestick is followed by a large red candlestick that completely eclipses or engulfs the previous candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire candlestick from the previous cycle. Such a pattern is an indication that the previous downward trend is coming to an end. |
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INVERTED HAMMER (bullish) – A doji line that develops when the Doji is at, or very near, the low of the day.A doji line that develops when the Doji is at, or very near, the low of the day.A doji line that develops when the Doji is at, or very near, the low of the day. A doji line that develops when the Doji is at, or very near, the low of the day. When this pattern occurs during a downtrend, it is refered to as an inverted hammer, a bullish signal. |
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SHOOTING STAR – A doji line that develops when the Doji is at, or very near, the low of the day.A doji line that develops when the Doji is at, or very near, the low of the day.A doji line that develops when the Doji is at, or very near, the low of the day. A doji line that develops when the Doji is at, or very near, the low of the day. When this pattern occurs during a downtrend, it is refered to as an shooting star, a bearish signal. |
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MORNING STAR (bullish) – A morning star is a bearish candlestick pattern consisting of three candles that have demonstrated the following characteristics: the first bar is a large red candlestick located within an downtrend; the middle bar is a small-bodied green candle, that closes below the first red bar; and, the last bar is a large green candle that opens below the middle candle and closes near the center of the first bar\’s body. This pattern is used by traders as an early indication the downtrend is about to reverse. |
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EVENING STAR (bearish) – An evening star is a bearish candlestick pattern consisting of three candles that have demonstrated the following characteristics: the first bar is a large green candlestick located within an uptrend; the middle bar is a small-bodied red candle, that closes above the first green bar; and, the last bar is a large red candle that opens below the middle candle and closes near the center of the first bar\’s body. This pattern is used by traders as an early indication the uptrend is about to reverse. |
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BULLISH KICKER (bullish) – A two-bar candlestick pattern that is used to predict a change in the direction of the trend for an asset\’s price. This pattern is characterized by a very sharp reversal in price over the span of two candlesticks; traders use it to determine which group of market participants is in control of the direction. The bullish version is a two pattern from red to green. |
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BEARISH KICKER (bearish) – A two-bar candlestick pattern that is used to predict a change in the direction of the trend for an asset\’s price. This pattern is characterized by a very sharp reversal in price over the span of two candlesticks; traders use it to determine which group of market participants is in control of the direction. The bearish version is a two pattern from green to red. |
HOW DO YOU SET UP YOUR OWN PATTERNS?
The “real power” of this script is that it allows the seasoned daytrader to create their own custom candlestick patterns that this script then hunts for (in near real time from any desktop, laptop, tablet or mobile computer/phone).
To define a custom pattern, simply edit the file called config.php found in the php folder off the root (/php/config.php). In this file you will find the array ”$patternSettings” that contains the “out of the box” patterns this script searches for. See the previous section for the list.
To add your own pattern, simply add to this array. The properties of each array object are pretty self explanatory. The last 15 candlesticks on your chart are objects you can reference in an “if condition” (see “eval” property below) that defines your custom pattern. $value is the object of the most recent candlestick created, $valueMinus1 is the previous candlestick, $valueMinus2 is the one before that and so on until $valueMinus15. The open, high, low, close values are just properties in the object (e.g. $value->open, $valueMinus1->close, $valueMinus15->high…).
For example, see below the definition for the bullish harami pattern:
array(
“ID”=>”blHaram”,
“eval” => “return (\$valueMinus2->open > \$valueMinus2->close && \$valueMinus1->open > \$valueMinus1->close && \$valueMinus1->open > \$value->close && \$value->close > \$value->open && \$valueMinus1->close < \$value->open);”,
“title” => “BH”,
“description” => “Bullish Harami”,
“color” => ”#7dd0b6”,
“text” => ‘<table style=\’clear:both;height:113px;width:400px;\’><tr><td style=\’height:113px;width:70%;\’>BULLISH HARAMI (bullish) – A bullish Harami is a trend indicated by a large red candlestick followed by a much smaller green candlestick with a that body is located within the vertical range of the larger red candle body. Such a pattern is an indication that the previous downward trend is coming to an end.
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WHAT ARE THE SCRIPT’S KEY FEATURES?  FEATURES – see blue squares above
-Data Ninja AUTHOR’S NOTE ON SCRIPT: see blog post – Author’s Note: PHP Daytrader’s Candlestick Hunter REMINDER ON EXTENDED LICENSES: Just a friendly reminder that there are two different license levels at codecanyon.net. The regular license is for single FREE user use. If you have multiple clients or charging clients for functionality from this script, then an extended license is the appropriate level. It’s only fair as I do spend a lot of time tuning these scripts. And more sales/revenues means I can code more features and it has come to my attention that many purchasers are using my script for commercial (for pay) purposes with just the regular license. Thanks for you support. Click for more details – Regular vs. Extended License Comparison NOTE ON INSTALLATION
SYSTEM REQUIREMENTS
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