Description
Morning Star is a bullish trend reversal candlestick pattern consisting of three candles.
The Morning Star candlestick pattern is recognized if:
-
The first candle is long and bearish and continues the downtrend;
-
The second candle is short and gaps down from the first one;
-
The third candle is bullish and its Close price is higher than the first candle's midpoint.
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 |
|---|---|
Bullish
|
The Morning Star candlestick pattern. |