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.
||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.|
||The number of preceding bars to check if the trend exists.|
||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.|
||The Deliberation candlestick pattern.|