Description Usage Arguments Details Value Note Author(s) References Examples
Look for Rising/Falling Three Methods Pattern in a OHLC price series
1 | CSPThreeMethods(TS, n=20, threshold=1.5)
|
TS |
xts Time Series containing OHLC prices |
n |
number of preceding candles to calculate median candle body length |
threshold |
minimum/maximum candle body length in relation to the median candle length of |
Number of candle lines: 5
Rising Three Methods:
Prior trend: up
The formation starts with a long white candle body. The following three bars are smaller candles that open/close within the high/low span of the first candle. The last candle is a again a long white candle that closes above the close price of the first candle.
Falling Three Methods:
Prior trend: down
The formation starts with a long black candle body. The following three bars are smaller candles that open/close within the high/low span of the first candle. The last candle is a again a long black candle that closes below the close price of the first candle.
A xts object containing the columns:
RisingThreeMethods |
TRUE if Rising Three Methods pattern detected |
FallingThreeMethods |
TRUE if Falling Three Methods pattern detected |
The function filters patterns that look like three methods, without considering the current trend direction. If only pattern in uptrends 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 candlestick pattern:
http://www.investopedia.com/terms/r/rising-three-methods.asp
http://www.investopedia.com/terms/f/falling-three-methods.asp
http://www.candlesticker.com/Bullish.asp
http://www.candlesticker.com/Bearish.asp
1 2 3 4 5 6 7 8 | ## Not run:
getSymbols('URZ',adjust=TRUE)
CSPThreeMethods(URZ)
# filter rising three methods in uptrends
CSPThreeMethods(URZ)[,"RisingThreeMethods"] & TrendDetectionChannel(lag(URZ,k=5))[,"UpTrend"]
## End(Not run)
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