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Created page with "=== Definition === An Island Reversal price pattern occurs when two different gaps isolate a cluster of trading days. The pattern usually implies reversal and can apply to a..."
=== Definition ===
An Island Reversal price pattern occurs when two different gaps isolate a cluster of trading days. The pattern usually implies reversal and can apply to a bullish or bearish change.<br>
The Island Reversal Up indicator marks the high of any bar if two conditions are met: <br>
1. High is less than the previous bar's Low; <br>
2. Close falls within the upper PctRange % of the bar range. <br>
An Island Reversal Down bar is similar to the [[Gap Dn Bar|Gap Down Bar]] except that an Island Reversal Up bar's Close must fall within the upper percentage of the bar.<br>
=== Default Inputs===
'''Length''' sets the number of bars over which to locate the lowest Low, for comparison to the Low of the possible island bar, 4 by default.
'''PctRange''' sets the upper percentage of the bar range, above the Low of the bar, in which the Close must be located, 30 by default.
[[Category:Pre-built Indicators]]
An Island Reversal price pattern occurs when two different gaps isolate a cluster of trading days. The pattern usually implies reversal and can apply to a bullish or bearish change.<br>
The Island Reversal Up indicator marks the high of any bar if two conditions are met: <br>
1. High is less than the previous bar's Low; <br>
2. Close falls within the upper PctRange % of the bar range. <br>
An Island Reversal Down bar is similar to the [[Gap Dn Bar|Gap Down Bar]] except that an Island Reversal Up bar's Close must fall within the upper percentage of the bar.<br>
=== Default Inputs===
'''Length''' sets the number of bars over which to locate the lowest Low, for comparison to the Low of the possible island bar, 4 by default.
'''PctRange''' sets the upper percentage of the bar range, above the Low of the bar, in which the Close must be located, 30 by default.
[[Category:Pre-built Indicators]]