C MornStar EveStar: Difference between revisions
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An '''Evening Star''' is a bearish chart pattern used by technical analysts to detect when a trend is about to reverse. | An '''Evening Star''' is a bearish chart pattern used by technical analysts to detect when a trend is about to reverse. | ||
The '''Evening Star | The '''Evening Star''' is also composed of three candles: | ||
* A long green candle. Its body needs to be larger than the average body. | * A long green candle. Its body needs to be larger than the average body. | ||
*A small body candle that gaps lower and forms the star. | *A small body candle that gaps lower and forms the star. | ||
Latest revision as of 15:06, 19 September 2024
The C_MornStar_EveStar indicator identifies the occurrence of two candlestick patterns: Morning Star and Evening Star, and marks the bars with these patterns.
Description
A Morning Star is a visual pattern consisting of three candlesticks that is interpreted as a bullish sign by technical analysts.
The Morning Star pattern is composed of three candles:
- A long red candle. Its body needs to be larger than the average body).
- A small body candle that gaps lower and forms the star.
- A green candle that closes will into the real body of the first candle.
An Evening Star is a bearish chart pattern used by technical analysts to detect when a trend is about to reverse.
The Evening Star is also composed of three candles:
- A long green candle. Its body needs to be larger than the average body.
- A small body candle that gaps lower and forms the star.
- A red candle that closes will into the real body of the first candle.
Default Inputs
Length( 14 ) sets the number of bars used to calculate the average body.
