Description
Deliberation is a bearish trend reversal candlestick pattern consisting of three candles.
The Deliberation candlestick pattern is recognized if:
-
The first and the second candles are long and bullish;
-
All the three candles have consequently higher Open prices;
-
The Open and Close prices of the second candle are greater than those of the first candle;
-
The third candle is short and either gaps up from the second candle or has about the same Close price.
Input Parameters
| Parameter | Description |
|---|---|
length
|
The number of bars used to calculate the average body height. If the body height of a candle exceeds this average, it is considered long. |
trend setup
|
The number of preceding bars to check if the trend exists. |
body factor
|
The factor used when checking if a candle is short. A candle is considered short if its body height is lower than the average multiplied by this factor. |
Plots
| Plot | Description |
|---|---|
Bearish
|
The Deliberation candlestick pattern. |