Island Reversal Screener for ProRealTime

The Island Reversal Screener automatically scans financial markets to identify Bullish and Bearish Island Reversal patterns on your selected ProRealTime timeframe.

An Island Reversal is a Japanese candlestick chart pattern characterized by one or more candlesticks isolated from the surrounding price action by two opposing gaps.

The first gap separates the island from the preceding price movement. After one or more candlesticks, a second gap appears in the opposite direction, leaving the island isolated.

Both gaps must remain open, without being filled even by the candlestick wicks.

Two types of patterns can be detected:

• Bullish Island Reversal: Generally appears after a downward movement, with a bearish gap followed by a bullish gap.
• Bearish Island Reversal: Generally appears after an upward movement, with a bullish gap followed by a bearish gap.

Depending on market conditions, these patterns may indicate a potential change in market direction.

Find Bullish and Bearish Island Reversal Patterns

The Screener searches financial markets for stocks displaying Island Reversal patterns that match your detection criteria.

It analyzes the last 100 candlesticks to identify formations consisting of two opposing, still-open gaps surrounding one or more isolated candlesticks.

Search results are classified according to the detected pattern:

• 1: Bullish Island Reversal.
• 2: Bearish Island Reversal.

Results are displayed directly in ProScreener, allowing you to identify matching stocks without checking each chart individually.

The Screener works on all timeframes, while general market liquidity filters are applied on the daily timeframe.

Want to visualize the gaps directly on your charts?

Discover our Gap Indicator to display and highlight price gaps on your ProRealTime charts.

The Island Reversal Screener identifies stocks matching your search criteria, while the Gap Indicator helps you visualize the gaps involved in these formations.

Customizable Search Parameters

Configure the Screener directly through ProRealTime’s Variables menu, without modifying the code.

Adjustable validation criteria:

• Maximum island size, expressed as the number of candlesticks.
• Maximum distance between the current candle and the second gap.

Available filters:

• Detection of Bullish Island Reversal patterns.
• Detection of Bearish Island Reversal patterns.

General market filters:

• Minimum stock price.
• Minimum average trading volume.
• Average volume calculation period.
• Trading volume calculated using either the number of shares traded or the traded value.

These settings allow you to customize your searches according to the desired patterns and your market liquidity requirements.

Characteristics

• Automatic detection of Bullish and Bearish Island Reversal patterns.
• Analysis of the last 100 candlesticks.
• Works on all timeframes.
• Customizable island size and detection criteria.
• Adjustable price and trading volume filters.
• Compatible with ProRealTime V11 and later versions.
• Compatible with the free version of ProRealTime (daily closing prices).
• Parameters adjustable without modifying the code.
• Free automatic updates.

Video Presentation

Video in French – English subtitles available.