Had posted in mr. excel forum -- https://www.mrexcel.com/board/…ion.1159249/#post-5624414
Day Open High Low Close
D1 O1 H1 L1 C1
D2 O2 H2 L2 C2
Wants to get the logic- for excel formula for decoding OpenHighLowClose for candlestick patterns--
The details are --(1) (a)BUllish or (b)bearish
(2)(a)Inside bar (a)Above Bar (b) Belowbar(c)Normal Bar(d)Above normal Bar(body is above >50 of previous days body)(e)Below Normal Bar
(3)(a)Upper wick/shadow is longer than lower wick(b)Lower Wick/shadow is longer than Upperwick(c)Same size but same as body , so no spinning top like thing(d)Upperwick, Lowerwick and body all are of Same Size(~98%)(e)Spinning top pattern.
the structure I need is like--(1) if c(lose>O(open), then bullish else bearish , then go to second stage(2)If c2(today)>c1(yesterday) & o2<o1, inside bar, if c2<c1& o2>o1, its outside bar, if o2<o1& c2>50% of previous days c1-o1, then up Inside bar, ..... like that there are about 30+combination WHILE excel support only 7 levels of IF.--- so importnt to exactly know the logic as what to evaluate first-second-third.......
I am putting emphasis on logic as it has happened many times in other functions---- that a particular condition does not trigger as the preceding conditions negates that condition,(logical error), so I want to first clear the exact thought process----means steps of it in going through various conditions ---before constructing formula for that.
-------I want logic as has to make the formulas to suit at various place.