ThreeStarsInTheSouth

 

Description

Three Stars In The South is a bullish trend reversal candlestick pattern consisting of three candles.

The Three Stars In The South candlestick pattern is recognized if:

  • The first candle is long and bearish and continues the downtrend;

  • The first candle has a long lower shadow and no upper shadow;

  • The second candle is similar to the first one, but smaller, its Low price is greater than that of the first candle;

  • The third cadle is small and bearish, misses shadows and closes inside the second candle's range.

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.
body factor The factor used when checking if a candle is short. A candle is considered short if its body height is lower than the average 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
Bullish The Three Stars In The South 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.