Rising Three

rising_three

Function Name: rising_three

Tags: Bearish Falling Three

Category: Candlestick, Pattern

A bullish candlestick pattern that is used to predict the continuation of the current uptrend. This pattern is formed when the candlesticks meet the following criteria:

1. An uptrend is in progress.

2. A candle with long white body is formed.

3. Followed by a series of 2 to 5 descending small-bodied candlesticks that trade within the range of the first candlestick.

4. The final day opens up into the body of the last pull-back day and proceeds to close above the close of the first big white candle day.

 

Parameters:

AvgBodyHeightPeriod: Number of bars that are averaged to form a baseline for "long body" and "small body" criteria.

LongBodyRelativeThresh: Factor that multiplies the baseline to form the threshold for "long body" criterion.

SmallBodyRelativeThresh: Factor that multiplies the baseline to form the threshold for "small body" criterion.

MinNoOfSmallCandles: Minimum number of small descending candles.

MaxNoOfSmallCandles: Maximum number of small descending candles.

SmallCandlesMustBeBlack: If true, then small candles are tested if their open is higher than close.

SmallCandlesMustBeDescending: If true, then each small candle (except the first one) is tested whether its midline is below the midline of the previous candle.

UseClassicInsideCondition: If true, then small candles are tested if their highs are lower than first candle's high and if their lows are higher than first candle's low. If false, they are only tested if lows and closes are higher than the first candle's low and open (respectively).

UseUptrendCondition: If true, then the indicator checks for an uptrend prior to appearance of the first long white candle.

ShowTraderBar, ShowTraderMark: Display control flags.                                         

 

Parameters

AvgBodyHeightPeriod

 

Default Value: 14  |  Minimum: 1  |  Maximum: 999

 

Type: Numeric

LongBodyRelativeThresh

 

Default Value: 1  |  Minimum: 0  |  Maximum: 10

 

Type: Numeric

SmallBodyRelativeThresh

 

Default Value: 0.5  |  Minimum: 0  |  Maximum: 1

 

Type: Numeric

MinNoOfSmallCandles

 

Default Value: 2  |  Minimum: 2  |  Maximum: 5

 

Type: Numeric

MaxNoOfSmallCandles

 

Default Value: 5  |  Minimum: 2  |  Maximum: 5

 

Type: Numeric

SmallCandlesMustBeBlack

 

Default Value: 0

 

Type: Boolean

SmallCandlesMustBeDescending

 

Default Value: -1

 

Type: Boolean

UseClassicInsideCondition

 

Default Value: -1

 

Type: Boolean

UseUptrendCondition

 

Default Value: -1

 

Type: Boolean

ShowTraderBar

 

Default Value: -1

 

Type: Boolean

ShowTraderMark

 

Default Value: -1

 

Type: Boolean