this study is another script based on the candlestick pattern. there are a few filters implemented to be applied to the output result to clear out noises. it sounds like finding real Dark Cloud Cover instances are too rare (interesting though!).
Dark Cloud Cover
it is a bearish reversal candlestick pattern where a down candle (typically bearish) opens above the...
The script highlights the 2 candlesticks pattern: BEARISH Dark Cloud Cover/BULLISH Piercing on the main chart screen, and has a preset alert condition. Please use an oscillator that shows oversold and overbought conditions with this script (i.e. StochRSI oscillator).