ThreeLineStrike

Description

Three Line Strike is a trend continuation candlestick pattern consisting of four candles. Depending on their heights and collocation, a bullish or a bearish trend continuation can be predicted.

The bearish Three Line Strike continuation is recognized if:

• The first three candles are long and bearish and continue the downtrend having Close prices consequently lower;

• The second and the third candles open within the previous candle's body;

• The fourth candle is bullish, opening at a new Low price;

• The fourth candle's Close price is higher than the Open price of the first candle.

The bullish Three Line Strike continuation is recognized if:

• The first three candles are long and bullish and continue the uptrend having Close prices consequently higher;

• The second and the third candles open within the previous candle's body;

• The fourth candle is bearish, opening at a new High price;

• The fourth candle's Close price is lower than the Open price of the first candle.

Input Parameters

Plots