Below are the MetaStock formulas introduced in the article "Finding Key Reversals", by Massimiliano Scorpio.

To identify the pattern, use the following formula in either the Expert Advisor as a symbol/alert, in the Explorer as an exploration filter, or in the Indicator Builder as a new indicator:

L < Ref(L,-1) AND C>Ref(C,-1) AND C < H

For the system create a new system in the System Tester using the following formulas:

Enter Long:
     L < Ref(L,-1) AND C>Ref(C,-1) AND C < H

Close Long:
     H >=Ref(H,-1)

STOPS

Maximum Loss: LONG ONLY
     2.0 Percent

To search a group of securities/markets for how often the pattern occurs and how profitable it is use the Explorer to create a new exploration using the following formulas:

COLUMN FORMULAS

ColumnA: # pat
     pat:=L < Ref(L,-1) AND C>Ref(C,-1) AND C < H;
     Cum(pat)

ColumnB: # bars
     Cum(1)

ColumnC: % pat
     pat:=L < Ref(L,-1) AND C>Ref(C,-1) AND C < H;
     PREC((Cum(pat)/Cum(1))*100,2)

ColumnD: # wins
     pat:=L < Ref(L,-1) AND C>Ref(C,-1) AND C < H;
     Cum(Ref(pat,-1) AND H >= Ref(H,-1))

ColumnE: % wins
     pat:=L < Ref(L,-1) AND C>Ref(C,-1) AND C < H;
     PREC((Cum(Ref(pat,-1) AND H >= Ref(H,-1))/Cum(pat))*100,2)