Description
Three Line Strike is a trend continuation candlestick pattern consisting of four candles. Depending on their heights and collocation, a bullish or a bearish trend continuation can be predicted.
The bearish Three Line Strike continuation is recognized if:
-
The first three candles are long and bearish and continue the downtrend having Close prices consequently lower;
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The second and the third candles open within the previous candle's body;
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The fourth candle is bullish, opening at a new Low price;
-
The fourth candle's Close price is higher than the Open price of the first candle.
The bullish Three Line Strike continuation is recognized if:
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The first three candles are long and bullish and continue the uptrend having Close prices consequently higher;
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The second and the third candles open within the previous candle's body;
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The fourth candle is bearish, opening at a new High price;
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The fourth candle's Close price is lower than the Open price 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 Three Line Strike candlestick pattern. |
Bullish
|
The bullish Three Line Strike 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.