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Tasuki Downside Gap

 

This formation consists of three candlesticks. The first is a long black body, the second is a small black body and the third is a small white body. The middle small black body gaps down from the long black one. The small white body opens in the body of the small black one but then closes above the small black body. In a declining market this is a bearish continuation pattern.

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_TasukiDownsideGap(10,2)_I3

This study detects an TasukiDownsideGap 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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