Piercing Line is a bullish trend reversal candlestick pattern consisting of two candles.
The Piercing Line candlestick pattern is recognized if:
The first candle is long and bearish and continues the downtrend;
The second candle is bullish;
The Open price of the second candle is less than the first candle's Low price, its Close price is in the upper half of the previous candle body.
||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.|
||The number of preceding candles to check if the trend exists.|
||The Piercing Line candlestick pattern.|