Description
Three Stars In The South is a bullish trend reversal candlestick pattern consisting of three candles.
The Three Stars In The South candlestick pattern is recognized if:
-
The first candle is long and bearish and continues the downtrend;
-
The first candle has a long lower shadow and no upper shadow;
-
The second candle is similar to the first one, but smaller, its Low price is greater than that of the first candle;
-
The third cadle is small and bearish, misses shadows and closes inside the second candle's range.
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. |
shadow factor
|
The factor used when checking if a shadow is long. A shadow is considered long if its length exceeds the average body height multiplied by this factor. |
Plots
| Plot | Description |
|---|---|
Bullish
|
The Three Stars In The South candlestick pattern. |