Just going over the indicators candle pattern as i am still learning.
I see that Penetration = (Percentage of penetration of a candle within another candle).
Say for instance I use.
if (CDLDarkCloudCover(10))
enterShort();
This means 10% penetration right?
if so how do I actually combine this with another Candle if i am reading this correctly?
Do I put for instance simply this?
if (CDLDarkCloudCover(10) && CDLDragonflyDoji())
enterShort();
Is this what penetration is for? Is there a way to define a percentage for the a particularly previous candle to use for a limit entry or stop etc..
For instance, i want to place a stop 33% below the high of the previous candle? Or a limit buy 50% above the low of 10 candles ago?
Thanks for any info.