C_PierceLine_DkCloud (ShowMe)Analysis Techniques & Strategies
C_PierceLine_DkCloud (ShowMe)
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| Piercing Line | Dark Cloud |
C_PierceLine_DkCloud displays a ShowMe for two Japanese candlestick patterns; Piercing Line and Dark Cloud.
Piercing Line is defined as:
A big green candle which opens below the low of the previous red candle and closes above half the previous bars real body
The price trend is declining
Dark Cloud is defined as:
A big red candle which opens above the high of the previous green candle and closes below half the previous bars real body
The price trend is advancing
| Name | Default | Description |
| Length | 14 | Length used to calculate the average body |
Piercing Line may be considered a bullish reversal pattern, however if the green candle is not very long the formations may be just considered a continuation formation.
Dark Cloud may be considered a bearish reversal pattern, however if the red candle is not very long the formations may be just considered a continuation formation.
The next bar may be needed to confirm the reversal.
Piercing Line plots on the High when true for the current bar.
Dark Cloud plots on the Low when true for the current bar.
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