Abbreviation:
Category: Candlestick Bullish Reversal
Input Parameters:
| Name | Range | Default |
| Opening Price | Open | |
| High Price | High | |
| Low Price | Low | |
| Closing Price | Close | |
Calculation:
= Downward Trend 1 bar ago
AND Long Black Day 1 bar ago
AND Short White Day
AND Closing Price < Opening Price 1 bar ago
AND Opening Price > Closing Price 1 bar ago
AND (Closing Price-Opening Price)/(Opening Price 1 bar ago-Closing Price 1 bar ago)<0.7
WHERE Downward Trend = (ExpAvg(Closing Price,9) < ExpAvg(Closing Price,9) 1 bar ago)
Discussion:
Possible indication of a reversal from a bearish trend to a bullish trend.
For more details, refer to pages 32-36 of the book, CandlePower, by Gregory L. Morris (Chicago, IL, Probus Publishing Company, 1992, ISBN 1-55738-458-4). Note that CandlePower may no longer be in print and has been replaced by the book Candlestick Charting Explained : Timeless Techniques for Trading Stocks and Futures by Gregory L. Morris (ISBN 1-55738-891-1).