Description
Rising Three Methods is a bullish trend continuation candlestick pattern consisting of five candles.
The Rising Three Methods candlestick pattern is recognized if:
-
The first candle is long and bullish and continues the uptrend;
-
The next three candles are short and, as a group, form a short-term downtrend, closing within the first candle's body;
-
The fifth candle is long and bullish again and its Close price is higher than that 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. |
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 Rising Three Methods candlestick pattern. |