LowPriceGappingPlay

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.


For educational purposes only. Not a recommendation of a specific security or investment strategy.
Technical analysis is not recommended as a sole means of investment research.
Past performance of a security or strategy does not guarantee future results or success.