Description
Three Inside Down is a bearish trend reversal candlestick pattern consisting of three candles. The first two candles of this candlestick pattern form bearish Harami.
The Three Inside Down candlestick pattern is recognized if:
-
The first candle is long and bullish and continues the uptrend;
-
The second candle is short and bearish and its Open and Close prices are within the first candle's body;
-
The third candle is bearish and its Close price is lower than that of the second candle.
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 Three Inside Down candlestick pattern. |