Investigator defines the open, high, low, and close of each day in the pattern as individual areas. There are three types of conditions that you can test on the various areas: comparison conditions, percent conditions, and range conditions.
Comparison conditions test to see if two areas are greater than, less than, or equal to each other. For example, you might want to see if the close of today’s date is greater than the high quote of two days ago.
Percent conditions are similar to comparison conditions, since they test to see if two areas are greater than or less than (but not equal to) each other, but the test is based on percent value. The percent comparison is based on the area which is furthest back in the pattern. For example, you might want to see if the close of today’s date is greater than the high of two days ago by at least 7%. Investigator will take the high quote of two days ago and multiply it by 1.07 to obtain a percent comparison figure. Investigator will then see if today’s close is greater than the figure. If the percent comparison is between the open and close of the same day, the percent comparison is obtained by multiplying the lower open or close of the day by the percent value and then comparing the higher open or close with the percent comparison figure.
Percent conditions can also test to see if an open or close is in the upper or lower percentage of a bar or will see if the high and low are within a certain percentage of each other. For example, some patterns require that the close is in the upper third of a bar or that the range of a bar is small or large.
Range conditions test to see if the open / close range or high / low range of one bar is greater or less than the open / close range or high / low range of another bar. This is useful for checking to see if a bar length or open / close area is greater or less than another bars length or open / close area. Some Candlestick patterns require smaller or larger bodies when compared to other bars. The percent calculation for these percentages is the same as in the above paragraph.