yorikiri
Function Name: yorikiri
Tags: Belt-Hold
Category: Candlestick, Pattern
Yorikiri or Belt-Hold is a one candle pattern. It is basically a long real body with zero size or insignificant lower and/or upper shadows. The bullish belt-hold line pattern consists of a long white body. If this pattern appears at the bottom of a down trend it could be a reversal sign with bullish implications. The bearish belt-hold line pattern consists of a long black body. If this pattern appears at the top pf an uptrend it could be a reversal sign with bearish implications.
Criteria:
1. Market is in uptrend (downtrend).
2. A long black (white) candle appears.
3. It opens near or at it's high.
Parameters:
AvgBodyHeightPeriod: The number of body heights that are averaged to form the body length baseline.
LongBodyRelativeThresh: Baseline multiple used to form the threshold for "long body".
MaxRelativeShadowLength: Maximum size of the open side shadow relative to the length of the real body.
UseTrendCondition: If false, then the criterion No. 1 is not tested.
ShowMark, ShowBar: Display control flags.
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AvgBodyHeightPeriod |
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Default Value: 14 | Minimum: 1 | Maximum: 999 |
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Type: Numeric |
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LongBodyRelativeThresh |
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Default Value: 2 | Minimum: 0 | Maximum: 100 |
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Type: Numeric |
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MaxRelativeShadowLength |
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Default Value: 0.02 | Minimum: 0 | Maximum: 0.5 |
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Type: Numeric |
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UseTrendCondition |
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Default Value: -1 |
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Type: Boolean |
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ShowMark |
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Default Value: -1 |
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Type: Boolean |
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ShowBar |
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Default Value: -1 |
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Type: Boolean |