AdvanceBlock

Description

Advance Block is a bearish trend reversal candlestick pattern consisting of three candles.

The Advance Block candlestick pattern is recognized if:

  • All three candles are bullish and continue the uptrend;

  • Each candle's Open price is within the previous candle's body;

  • The second candle's body is smaller than that of the first candle, and the third candle's body is smaller than that of the second candle;

  • Both second and third candles have long upper shadows.

Input Parameters

Parameter Description
length The number of bars used to calculate the average body height.
trend setup The number of preceding bars to check if the trend exists.
body factor The factor by which candles' body heights are multiplied. Each of the last two candles cannot have body height greater than that of the previous candle 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
Bearish The Advance Block 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.