Description:
This formation consists of five candlesticks.
The first candlestick is long and white, it is followed by three small black bodies each of which closes lower than the prior one. All of the small black bodies hold within the range of the first
white candlestick.The final candlestick is a long white body that
closes at a new high.
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In an uptrend this a bullish continuation pattern showing that the bears tried to stop the uptrend but were unsuccessful.
Parameters:
BarsBack BarsBack must be greater than MinBars.
The candlestick formation will be scanned
this many bars back in the timeframe
MinBars 4(Fixed).
The value of MinBars will be one less than the
number of bars in the candlestick formation.
Arguments:
None
Output Indicators:
Detected
If the candlestick formation is detected within the last
BarsBack bars, then Detected returns a 1.
Otherwise Detected has a value of 0.
Example:
Study Name Expanded in a 3 minute timeframe:
I3_Rising3Method(10,4)_I3
This study detects an Rising3Method in the last 10 bars of the 3 minute time frame.
It returns a 1 if the formation is detected , 0 otherwise.
The output indicators names are appended to the studyname,
that is if the studyname is sn1 then
the outputindicator is
sn1::Detected
