BIMI (pronounced BeeMe)

Base Isolation Method Indicator

** DISCLAIMER ** ** ** DISCLAIMER ** ** ** DISCLAIMER ** ** ** DISCLAIMER **

The BIMI is not an approved Online Trading Academy indicator

This TradeStation v9.5 & v10 indicator resulted from presentations by Brandon Wendell
(CMT) based on teachings by Scott McCormick (CMT) and Don Dawson but do note that
the BIMI indicator is not endorsed by them.
** DISCLAIMER ** ** ** DISCLAIMER ** ** ** DISCLAIMER ** ** ** DISCLAIMER **

The BIMI Indicator does exactly what you expect - it INDICATES! It was created to save time and
improve back-testing consistency. It doesn’t provide the necessary context to any candle pattern.
It comes with no warranties or promises of trading success.
The BIMI indicator is copyrighted with All Rights Reserved. It is free to members of the OTA
community from www.duffree.com/BIMI or written permission provided by BIMI@duffree.com

Contents: Page/s
 BIMI … introduction and disclaimer 1
 BIMI Rules ... the mathematical certainties 2-3
 BIMI variables … what you can change 4
 BIMI colours … 17 different colour options for your candles 5

BIMI © 2019 Tom Duffree – ALL RIGHTS RESERVED Page 1 of 5

BIMI Rules
The (mathematical) rules that always apply to the BIMI chart patterns. These patterns will appear instantly on your
chart whenever you change your chart timeframe or symbol:

RBD – Rally Base Drop pattern:

DBR – Drop Base Rally pattern:

BIMI © 2019 Tom Duffree – ALL RIGHTS RESERVED Page 2 of 5

RBR – Rally Base Rally pattern:

DBD – Drop Base Drop pattern:

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Customising BIMI Paintbar Study to suit your own rules

The pop-up window when you Edit BIMI study in TradeStation:

User Options:
1 ) Change basing candle colour* for any of the
2 ) 4 recognised patterns (RBD, DBD, DBR or RBR)
3 ) Default = Yellow for all 4 patterns
4 )
5 ) Change your colour* of Leg-IN and/or Leg-OUT
6 ) Default = Black for both
7 ) Option to switch off Leg-IN or Leg-OUT if unwanted**
8 Blank field
9 )
10 )
11 ) Restrict how many basing candles appear on
12 ) your chart or choose to have up to 8 basing
13 ) candles. Just switch them OFF by changing to
14 ) 0 (zero) or switch ON by changing to 1 (one)
15 ) Default = patterns with up to 4 basing candles
16 )
17 Blank field
18 ) See note 18 below. Default = 500
19 ) See note 19 below. Default = 500

* Choice of 17 colours to contrast most chart background colours – see over the page for the 17 colour choices.

** Note 7 – If you switch this off by changing the word to [ false ] then Leg-IN/OUT candles will default to their usual
colour so you will only see the basing candles coloured on your chart. Switch on with the word [ True ]

Note 18 and 19 - an aid to back-testing

The Squeeze IN and Stretch OUT variables allow users to effectively restrict BIMI candle patterns appearing on their
charts to just extremely well-defined patterns based on their own rules about ‘excitable’ candles.
e.g. You could effectively restrict the BIMI patterns to just those that have very excitable Leg-IN and/or Leg-OUT
candles by changing these variables. More details below:

Note 18 – Squeeze IN % (i.e. emphasis is on the basing candle bodies compared to Leg-IN candle body)
This variable allows you to restrict the body size of ALL Basing Candles to a percentage that is less than
the Leg-IN body size

So if you change the number 500 to 25 then individually, ALL of the basing candle bodies must be less
than 25% of the Leg-IN candle body otherwise the pattern will not appear on your chart. Default is 500%.

Note 19 – Stretch OUT % (i.e. emphasis is on basing candle bodies compared to the Leg-OUT candle body)
This variable allows you to restrict the body size of ALL Basing Candles to a percentage that is less than
the Leg-OUT body size

So if you only wanted to see patterns on your chart which effectively have a strong Leg-OUT move away
then you would focus your attention on this variable e.g. if you change the number 500 to 20 then each of
the basing candle bodies must be less than 20% of the Leg-OUT candle body size otherwise the pattern
will not appear on your chart. An alternative way of interpreting this change to 20% is to say that the
candle pattern will only appear on your chart if the Leg-OUT body size is at least 5 times the size of each
of the basing candle bodies. Default is 500%.

BIMI © 2019 Tom Duffree – ALL RIGHTS RESERVED Page 4 of 5

The 17 colour changes that should be allowed with the BIMI

Colour Choice
Sample Tested Alpha Red Green Blue
Use these! @04Jul19
1 Black Yes 255 0 0 0
2 Blue Yes 255 0 0 255
3 Cyan Yes 255 0 255 255
4 DarkBlue 255 0 0 128
5 DarkBrown 255 128 128 0
6 DarkCyan Yes 255 0 128 128
7 DarkGray 255 128 128 128
8 DarkGreen 255 0 128 0
9 Dark Magenta 255 128 0 128
10 DarkRed 255 128 0 0
11 Gray 255 128 128 128
12 Green 255 0 128 0
13 LightGray Yes 255 192 192 192
14 Magenta Yes 255 255 0 255
15 Red 255 255 0 0
16 White Yes 255 255 255 255
17 Yellow Yes 255 255 255 0

BIMI © 2019 Tom Duffree – ALL RIGHTS RESERVED Page 5 of 5