Abbreviation:
Category: Candlestick Bearish Reversal
Input Parameters:
| Name | Range | Default |
| Opening Price | Open | |
| High Price | High | |
| Low Price | Low | |
| Closing Price | Close | |
Calculation:
= Upward Trend 2 bars ago
AND Long Black Day 2 bars ago
AND Long Black Day 1 bar ago
AND difference between Closing Price 2 bars ago and Opening Price 1 bar ago is less than 3% of ExpAvg(Candle Body Length,9) 1 bar ago
AND Long Black Day
AND difference between Closing Price 1 bar ago and Opening Price is less than 3% of ExpAvg(Candle Body Length,9)
WHERE Upward Trend = (ExpAvg(Closing Price,9) > ExpAvg(Closing Price,9) 1 bar ago)
Discussion:
Very strong indication of a reversal from a bullish trend to a bearish trend.
For more details, refer to pages 100-102 of the book, CandlePower, by Gregory L. Morris.