MetaStock -> Tools -> Indicator Builder -> New
Copy and paste formula below.


==========
Pattern 01
==========
---8<---------------------------

{ Basic Pattern 01 - Consecutive Lower Closes }
{ Historically profitable in
  81% of ASX100 stocks and the SPI }
{ ©Copyright 2004 Jose Silva }
{ For personal use only }
{ http://www.metastocktools.com }

x:=Input("Consecutive Lower Closes - Entry",
 0,21,5);
y:=Input("Consecutive Higher Closes - Exit",
 0,21,5);
delay:=Input("Entry and Exit delay",0,5,0);
plot:=Input("signals:  [1]Clean,  [2]All",
 1,2,1);

In:=Sum(C<Ref(C,-1),x)=x {AND
 ExtFml("Filter.Symbol","C:\URSC\Top-100.dat")};
Out:=Sum(C>Ref(C,-1),y)=y;

Init:=Cum(In+Out>-1)=1;
InInit:=Cum(In)=1;
flag:=BarsSince(Init OR In)
 <BarsSince(Init OR Out)+InInit;
signals:=(InInit AND Alert(InInit=0,2)
  OR flag AND Alert(flag=0,2))
   -(flag=0 AND Alert(flag,2));

0;Ref(If(plot=1,signals,In-Out),-delay)

---8<---------------------------


http://www.metastocktools.com