Description
Advance Block is a bearish trend reversal candlestick pattern consisting of three candles.
The Advance Block candlestick pattern is recognized if:
-
All three candles are bullish and continue the uptrend;
-
Each candle's Open price is within the previous candle's body;
-
The second candle's body is smaller than that of the first candle, and the third candle's body is smaller than that of the second candle;
-
Both second and third candles have long upper shadows.
Input Parameters
| Parameter | Description |
|---|---|
length
|
The number of bars used to calculate the average body height. |
trend setup
|
The number of preceding bars to check if the trend exists. |
body factor
|
The factor by which candles' body heights are multiplied. Each of the last two candles cannot have body height greater than that of the previous candle multiplied by this factor. |
shadow factor
|
The factor used when checking if a shadow is long. A shadow is considered long if its length exceeds the average body height multiplied by this factor. |
Plots
| Plot | Description |
|---|---|
Bearish
|
The Advance Block candlestick pattern. |