Description
Meeting Lines is a trend reversal candlestick pattern consisting of two candles. Depending on their heights and collocation, a bullish or a bearish trend reversal can be predicted.
The bearish Meeting Lines reversal is recognized if:
-
The first candle is long and bullish and continues the uptrend;
-
The second candle is long and bearish and its Close price is equal to that of the first candle.
The bullish Meeting Lines reversal is recognized if:
-
The first candle is long and bearish and continues the downtrend;
-
The second candle is long and bullish and its Close price is equal to 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. |
Plots
| Plot | Description |
|---|---|
Bearish
|
The bearish Meeting Lines candlestick pattern. |
Bullish
|
The bullish Meeting Lines candlestick pattern. |
For educational purposes only. Not a recommendation of a specific security or investment strategy.
Technical analysis is not recommended as a sole means of investment research.
Past performance of a security or strategy does not guarantee future results or success.