Description
Mat Hold is a bullish trend continuation candlestick pattern consisting of five candles.
The Mat Hold candlestick pattern is recognized if:
-
The first candle is long and bullish and continues the uptrend;
-
The second candle is bearish and gaps up from the first candle;
-
The next two candles are short and form a short-term downtrend, closing within the first candle's body;
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The fifth candle is bullish again and closes above the second candle's Open price.
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. |
body factor
|
The factor used when checking if a candle is short. A candle is considered short if its body height is lower than the average multiplied by this factor. |
Plots
| Plot | Description |
|---|---|
Bullish
|
The Mat Hold 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.