Description
Three Outside Up is a bullish trend reversal candlestick pattern consisting of three candles. The first two candles of this candlestick pattern form bullish Engulfing.
The Three Outside Up candlestick pattern is recognized if:
-
The first candle is bearish and continues the downtrend;
-
The second candle is long and bullish and its body engulfs the first candle's body;
-
The third candle is bullish and its Close price is higher 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. |
Plots
| Plot | Description |
|---|---|
Bullish
|
The Three Outside Up candlestick pattern. |