Piercing line
A rise that closes deep into the previous fall.
Inputs
| Name | Type | Default | Range |
|---|---|---|---|
| long_body_pct | float | 50 | 0 to 100 |
| penetration | float | 0.5 | 0 to 1 |
Outputs
| Name | Type | Required | Description |
|---|---|---|---|
| piercing | event | Optional | color_down theme.down, color_up theme.up, shape diamond, style marker, where above_bar |
- Warm-up
- 1 bars (1 at the defaults)
- Repaints
- No
- Parity
- None
Formula
body = |close - open|, range = high - low, upper wick = high - max(open, close), lower wick = min(open, close) - low
the first bar falls with a long body; the second rises, opens at or below the first close and closes at or above first close + penetration * first body, below the first open
Found: 1
A bar whose high equals its low, or that has a missing price, is never part of a pattern. Computed on the prices the bars are drawn with: on Heikin-Ashi or Renko bars those are the built candles.