CSPPiercingPattern: Piercing Candlestick Pattern
In candlesticks: Candlestick Pattern Recognition

Description Usage Arguments Details Value Note Author(s) References See Also Examples

Look for Piercing Patterns in a Open/Close price series

1	CSPPiercingPattern(TS, n=20, minbodysizeMedian=1)

`TS`	xts Time Series containing Open and Close Prices
`n`	number of preceding candles to calculate median candle body length
`minbodysizeMedian`	Minimum body length relative to the median of the past `n` body sizes

Number of candle lines: 2

A long black candlestick is followed by a gap lower during the next day while the market is in downtrend. The day ends up as a white candlestick, which closes more than halfway into the prior black candlestick's real body.

A xts object containing the column:

PiercingPattern

TRUE if Piercing Pattern detected

The function filters patterns that look like piercing patterns, without considering the current trend direction. If only pattern in downtrends should be filtered, a external trend detection function must be used. See examples.

Andreas Voellenklee

The following site(s) were used to code/document this indicator:
http://www.candlesticker.com/Bullish.asp
http://www.onlinetradingconcepts.com/TechnicalAnalysis/Candlesticks/PiercingPattern.html

The counterpart of this pattern is DarkCloudCover

## Not run: 
  getSymbols('YHOO',adjust=TRUE)
  CSPPiercingPattern(YHOO)
  
  # filter piercing patterns that occur in downtrends.
  # the lag of 2 periods of the time series for trend detection
  # ensures that the uptrend is active *before* the
  # dark cloud cover occurs.
  CSPPiercingPattern(YHOO) & TrendDetectionChannel(lag(YHOO,k=2))[,"DownTrend"]

## End(Not run)