21st May 2022

Candlestick Screener – Scan for Candlestick Patterns

Candlestick Screener – Scan for Candlestick Patterns

Candlestick screener helps you to automatically find bullish candlestick patterns and bearish candlestick patterns stocks.

Bullish Candlestick Scanner

What is Bullish Candlestick Scans

A bullish candlestick pattern indicates that the market price or stock price is going to be in an uptrend after a previous decrease in stock prices. This reversal of candlestick patterns indicates that bulls are taking control over the market, and the stock price may increase further, indicating that it is the time to take a long position. 

Under the bullish candlestick scans, you can find all major candlestick patterns, which are Bullish in Nature and formed on a 1-day timeframe chart. Here you can find the data for Bullish-Engulfing, Bullish-Harami, Morning-Star, 3-Line-Strike, 3-White-Soldiers Candlestick patterns. 

How to Select stocks for bullish candlestick scans using Intraday Screener

  • Firstly you have to check the stock trend, and the trend should be in bearish
  • After that, you have to find the support and resistance of the particular stock
  • If the stock forms a bullish candle at the support, we can expect the trend reversal i.e., into a bullish trend

Note: To have more accuracy in the trade, the stock you observe should be in the same trend as the market. Now let us know about types of candlestick patterns comes under bullish category.

Examples –

Bullish Engulfing Candlestick patterns

Let us take an example of “WESTLIFE” stock which made Bullish Engulfing Candlestick patterns.

bullish engulfing candlestick pattern
Bullish Engulfing Candlestick Pattern – intradayscreener.com

In the above example, you can check the stock “WESTLIFE” that made Bullish Engulfing Candlestick patterns. In the above candlestick chart, The Bullish Engulfing pattern includes two candlesticks where the second green candle completely engulfs the body of the previous red candle.

Bullish Harami Candlestick patterns

Let us take an example of “THYROCARE” stock which made Bullish Harami pattern.

Bullish Harami candlestick pattern
Bullish Harami Candlestick Pattern – intradayscreener.com

In the above example, you can check the stock “THYROCARE” that made Bullish-Harami Candlestick patterns. Bullish-Harami consists of a bearish candle with a large body, followed by a bullish candle with a small body enclosed within the body of the prior candle.

Morning Star Candlestick patterns

Let us take an example of “VGUARD” stock which made Morning Star Candlestick patterns.

Morning Star Candlestick Pattern
Morning Star Candlestick Pattern – intradayscreener.com

In the above example, you can check the stock “VGUARD” that made Morning-Star Candlestick patterns. As you can check the Morning Star Candlestick It consists of three candles; the first one is a bearish candlestick, the second one can be bullish or bearish with a small body and here bearish and the third one is a bullish candle.

3-White-Soldiers bullish Candlestick patterns.

Let us take an example of “3MINDIA” stock which made 3-White-Soldiers bullish Candlestick patterns.

3 white soldiers candlestick patterns
3 white soldiers candlestick patterns – intradayscreener.com

In the above example, you can check the stock “3MINDIA” that made 3-White-Soldiers bullish Candlestick patterns. As In 3-White-Soldiers, There are 3- green candles bar which is in a bullish pattern and each making a new higher high.

What is Bearish Candlestick Scans

A bearish candlestick pattern indicates that the market price or stock price is going to be in a downtrend after a previous increase in stock prices. This reversal pattern indicates that bears are taking control over the market, and the stock price may decrease further, indicating that it is the time to enter a short position. 

Under the bearish candlestick scans, you can find all major candlestick patterns, which are bearish in Nature and formed on a 1-day timeframe chart. Here you can find the data for Bearish-Engulfing, Bearish-Harami, Evening-Star, 3-Line-Strike, 3-White-Soldiers Candlestick patterns. 

Bearish Engulfing Candlestick Pattern
Bearish Engulfing Candlestick Pattern – intradayscreener.com

How to Select stocks for bearish candlestick scans using Intraday Screener

  • Firstly you have to check the stock trend, and the trend should be in bullish
  • After that, you have to find the support and resistance of the particular stocks
  • If the stock forms a bearish candle at the resistance, we can expect the trend reversal i.e., into a bearish trend

Note: To have more accuracy in the trade, the stock you observe should be in the same trend as the market. Now let us know about types of candlestick patterns comes under bearish category.

Example – 

Bearish Engulfing Candlestick patterns

Let us take an example of “BPCL” stock which made Bearish Engulfing Candlestick patterns.

Bearish Engulfing

In the above example, you can check the stock “BPCL” that made Bearish Engulfing Candlestick patterns. In the above chart, The Bearish Engulfing pattern includes two candlesticks where the second red candle completely engulfs the body of the previous green candle.

Bearish Harami Candlestick patterns

Let us take an example of “Eicher Motors” stock which made Bearish Harami patterns.

Bearish Harami

In the above example, you can check the stock “EICHER MOTORS” that made Bearish-Harami Candlestick patterns. A Bearish Harami candlestick is formed when there is a large bullish candle formed 1st and is followed by a smaller bearish candle on the next day.

Evening Star Candlestick patterns

Let us take an example of “Hindustan Unilever” stock which made Evening Star Candlestick patterns

Evening Star

In the above example, you can check the stock “Hindustan Unilever” that made Evening-Star Candlestick pattern. The Evening Star pattern is a bearish reversal candlestick pattern that appears at the top of an uptrend. It signals the slowing down of upward momentum before a bearish move lays the foundation for a new downtrend.

3-Black-crows Candlestick patterns

Let us take an example of “BLUESTARCO” stock which made 3-Black-crows Candlestick patterns.

Black Criws

In the above example, you can check the stock “BLUESTARCO” that made 3-Black-crows Candlestick patterns. The Three Crows pattern is a bearish reversal pattern that consists of three bearish long-bodied candlesticks.