Bullish Harami Pattern Entries with Fixed Pip Exits

Summary

This strategy marks a bullish harami when a smaller up candle’s real body sits within the real body of the preceding down candle. A minimum body-size input filters small patterns. When the condition is met, the script opens a long position and uses configurable take-profit and stop-loss distances measured in pips; the listed defaults are 60 pips for profit and 18 pips for loss.

The document defines the candlestick pattern and exposes its entry and exit logic, but provides no backtest report, market, timeframe, or evidence of profitability. The code also says it colors bars, and its exits are represented by checking candle highs and lows against the pip thresholds, which may not reflect execution costs or intrabar ordering. Treat the pattern and fixed exits as a testable rule set rather than an established reversal edge.

Key ideas

• A bullish harami consists of a smaller up-candle body contained within the prior down-candle body.
• A minimum body-size setting filters candidate patterns.
• The strategy enters long when the pattern qualifies.
• Take-profit and stop-loss distances are configurable in pips.
• The document gives no backtest evidence or market-specific validation.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.