Description
On Neck is a bearish trend continuation candlestick pattern consisting of two candles.
The On Neck candlestick pattern is recognized if:
-
The first candle is long and bearish and continues the downtrend;
-
The second candle is bullish and opens at a new Low price;
-
The second candle's Close price is equal to the Low price of the first candle.
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. |
Plots
| Plot | Description |
|---|---|
Bearish
|
The On Neck candlestick pattern. |