SideBySideWhiteLines

 

Description

Side-By-Side White Lines is a trend continuation candlestick pattern consisting of three candles. Depending on their heights and collocation, a bullish or a bearish trend continuation can be predicted.

The bearish Side-By-Side White Lines continuation is recognized if:

  • The first candle is bearish and continues the downtrend;

  • The second candle is bullish and gaps down from the first candle's body;

  • The third candle is bullish and has about the same body size;

  • The second and the third candles have the same Open price.

The bullish Side-By-Side White Lines continuation is recognized if:

  • The first candle is bullish and continues the uptrend;

  • The second candle is also bullish and gaps up from the first candle's body;

  • The third candle is bullish and has about the same body size;

  • The second and the third candles have the same Open price.

Input Parameters

Parameter Description
length The number of candles used to calculate the average body height. If the body height of a candle exceeds this average, it is considered long.
trend setup The number of preceding candles to check if the trend exists.

Plots

Plot Description
Bearish The bearish Side-By-Side White Lines candlestick pattern.
Bullish The bullish Side-By-Side White Lines candlestick pattern.


For educational purposes only. Not a recommendation of a specific security or investment strategy.
Technical analysis is not recommended as a sole means of investment research.
Past performance of a security or strategy does not guarantee future results or success.