Description
Side-By-Side White Lines is a trend continuation candlestick pattern consisting of three candles. Depending on their heights and collocation, a bullish or a bearish trend continuation can be predicted.
The bearish Side-By-Side White Lines continuation is recognized if:
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The first candle is bearish and continues the downtrend;
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The second candle is bullish and gaps down from the first candle's body;
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The third candle is bullish and has about the same body size;
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The second and the third candles have the same Open price.
The bullish Side-By-Side White Lines continuation is recognized if:
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The first candle is bullish and continues the uptrend;
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The second candle is also bullish and gaps up from the first candle's body;
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The third candle is bullish and has about the same body size;
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The second and the third candles have the same Open price.
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 Side-By-Side White Lines candlestick pattern. |
Bullish
|
The bullish Side-By-Side White 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.