Three outside
An engulfing confirmed by the third bar.
Inputs
| Name | Type | Default |
|---|---|---|
| allow_equal | bool | true |
Outputs
| Name | Type | Required | Description |
|---|---|---|---|
| three_outside | event | Optional | color_down theme.down, color_up theme.up, shape diamond, style marker, where above_bar |
- Warm-up
- 2 bars (2 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
up: the first two bars are a bullish engulfing and the third closes above the second close
down: the first two bars are a bearish engulfing and the third closes below the second close
Found: 1 up, -1 down
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.