How to Profit from the Mat Hold Candlestick Pattern in Any Market
Below is a simple Amibroker AFL script to detect the Mat Hold pattern:
// Mat Hold AFL Code for Amibroker
_SECTION_BEGIN(“Mat Hold”);
FirstBullish = Ref(Close, -4) > Ref(Open, -4);
Pullback1 = Ref(Close, -3) Ref(Low, -4);
Pullback2 = Ref(Close, -2) Ref(Low, -4);
Pullback3 = Ref(Close, -1) Ref(Low, -4);
BreakoutCandle = Close > Ref(High, -4);
MatHold = FirstBullish AND Pullback1 AND Pullback2 AND Pullback3 AND BreakoutCandle;
PlotShapes(IIf(MatHold, shapeUpArrow, shapeNone), colorBlue, 0, High);
_SECTION_END();
This script helps traders spot Mat Hold formations on stock charts.
