Description
Dark Cloud Cover is a bearish trend reversal candlestick pattern consisting of two candles.
The Dark Cloud Cover candlestick pattern is recognized if:
-
The first candle is long and bullish and continues the uptrend;
-
The second candle is bearish and it opens above the first candle's High price;
-
The Close price of the second candle is in the lower half of the previous candle body.
Input Parameters
| Parameter | Description |
|---|---|
length
|
The number of candles used to calculate the average body height. If the body height of a candle exceeds this average, it is considered long. |
trend setup
|
The number of preceding candles to check if the trend exists. |
Plots
| Plot | Description |
|---|---|
Bearish
|
The Dark Cloud Cover candlestick pattern. |
For educational purposes only. Not a recommendation of a specific security or investment strategy.
Technical analysis is not recommended as a sole means of investment research.
Past performance of a security or strategy does not guarantee future results or success.