Tri Star (bearish)

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 Doji 2 bars ago
AND Doji 1 bar ago
AND Body Gap Up 1 bar ago
AND Doji
AND Body Gap Down

WHERE Upward Trend = (ExpAvg(Closing Price,9) > ExpAvg(Closing Price,9) 1 bar ago)

 
Discussion:

Indication of a reversal from a bullish trend to a bearish trend.

For more details, refer to pages 68-71 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 Note that CandlePower may no longer be in print and has been replaced by the book Candlestick Charting Explained : Timeless Techniques for Trading Stocks and Futures by Gregory L. Morris (ISBN 1-55738-891-1).
 

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