ThreeLineStrike

 

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;

  • The second and the third candles open within the previous candle's body;

  • 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:

  • The first three candles are long and bullish and continue the uptrend having Close prices consequently higher;

  • The second and the third candles open within the previous candle's body;

  • The fourth candle is bearish, opening at a new High price;

  • 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.