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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 Dn indicator marks the high of any bar if two conditions are met: <br>
1. Low is higher than the High of the previous bar; <br>
2. Close falls within the lower PctRange % of the bar range. <br>
An Island Reversal Down bar is similar to the [[Gap Up Bar]] except that an Island Reversal Down bar's Close must fall within the lower percentage of the bar.
=== Default Inputs===
'''Length''' sets the number of bars over which to locate the highest High, for comparison to the Low of the possible island bar, 4 by default.
'''PctRange''' sets the percentage of the range of the bar, 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 Dn indicator marks the high of any bar if two conditions are met: <br>
1. Low is higher than the High of the previous bar; <br>
2. Close falls within the lower PctRange % of the bar range. <br>
An Island Reversal Down bar is similar to the [[Gap Up Bar]] except that an Island Reversal Down bar's Close must fall within the lower percentage of the bar.
=== Default Inputs===
'''Length''' sets the number of bars over which to locate the highest High, for comparison to the Low of the possible island bar, 4 by default.
'''PctRange''' sets the percentage of the range of the bar, above the Low of the bar, in which the Close must be located, 30 by default.
[[Category:Pre-built Indicators]]
