C PierceLine DkCloud
From MultiCharts
The C_PierceLine_DkCloud indicator identifies the occurrence of two candlestick patterns: Piercing Line and Dark Cloud, and marks the bars with these patterns.
Definition
The Piercing Line is a two-candle bullish reversal pattern occurring in downtrends. The Piercing Line pattern is composed of two candles:
- A red candle.
- A long green candle that opens below the Low of the previous red candle and closes above half of the red candle's real body.
The Dark Cloud is a bearish reversal candlestick pattern occuring in uptrends that is also composed of two candles:
- A green candle.
- A long red candle that opens above the High of the previous green candle and closes below half of the green candle's real body.
Default Inputs
Length( 14 ) sets the number of bars used to calculate the average body.
