Stalled Pattern

 

This formation consists of twocandlesticks. The first is long white candlestick and the second is a small body. The second body is near the top of the long white candlestick body or above it. When this pattern is spotted during an uptrend, it usually signals tstalling out of the uptrend.

Parameters:

BarsBack BarsBack must be greater than MinBars.
The candlestick formation will be scanned this many bars back in the timeframe
MinBars 2(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_StalledPattern(10,2)_I3

This study detects an StalledPattern 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

 

 

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