Description
Piercing Line is a bullish trend reversal candlestick pattern consisting of two candles.
The Piercing Line candlestick pattern is recognized if:
-
The first candle is long and bearish and continues the downtrend;
-
The second candle is bullish;
-
The Open price of the second candle is less than the first candle's Low price, its Close price is in the upper half of the previous candle body.
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 |
|---|---|
Bullish
|
The Piercing Line 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.