Description
Low Price Gapping Play is a bearish trend continuation candlestick pattern consisting of five candles.
The Low Price Gapping Play candlestick pattern is recognized if:
-
The first candle is long and bearish, misses shadows and continues the downtrend;
-
Next three candles have small bodies fluctuating near the first candle's Low price;
-
The fifth candle is long and bearish again and gaps down from the lowest Low of the previous four candles.
Input Parameters
| Parameter | Description |
|---|---|
length
|
The number of candles 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 candles 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 Low Price Gapping Play candlestick pattern. |