Description
One White Soldier is a bullish trend reversal candlestick pattern that consists of two candles.
The One White Soldier candlestick pattern is recognized in the following configuration of two candles:
- The first candle is long and bearish and continues a downtrend;
- The second candle is long and bullish;
- The second candle opens within the first candle's body limits and closes above the first candle's open.
A candle is considered long if its body height is greater than the average body height calculated for the last 20 candles. A downtrend is recognized if the average slope coefficient of trendlines is negative for the last three candles. Both mentioned numbers are default and can be modified in the input parameters.
Input Parameters
|
Parameter |
Description |
|---|---|
length
|
The number of candles used to calculate the average body height. If the body height of a candle is greater than this average, the candle is considered long. |
trend setup
|
The number of preceding candles to check if there was a downtrend before the pattern. |
Plots
|
Plot |
Description |
|---|---|
Bullish
|
The One White Soldier candlestick pattern. |
Further Reading
1. "A Candlestick Strategy With Soldiers And Crows" by Jerry D’Ambrosio and Barbara Star, PhD. Technical Analysis of Stocks & Commodities, October 2017.
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.