Three rising methods and 3 falling methods candle stick patterns

Three rising methods and 3 falling methods candle stick patterns

Understanding the Falling and Rising Three Methods

Before we get into the nitty-gritty of the code, let’s understand what the Falling and Rising Three Methods patterns are. These patterns are used to identify potential reversals in the market. The Falling Three Methods is a bearish continuation pattern, while the Rising Three Methods is a bullish continuation pattern. Both are composed of five candlesticks and are essential for predicting market trends.

Coding the Indicator

To begin, we need to identify the largest candle over the past 25 bars. This is achieved using the following code:

This loop scans the last 25 bars and identifies the largest candle, storing its value in GrootsteCandle.

Falling Three Methods

Next, we define the conditions for the Falling Three Methods pattern:

This code snippet checks if the specified conditions for the Falling Three Methods are met and then highlights the pattern on the chart with an orange rectangle and text.

Rising Three Methods

Similarly, we define the conditions for the Rising Three Methods pattern:

This code checks for the Rising Three Methods pattern and highlights it on the chart with a green rectangle and text.

Practical Application

Integrating these patterns into your trading strategy can provide you with significant insights into market trends. The Falling Three Methods pattern helps you identify potential downtrends, while the Rising Three Methods pattern signals possible uptrends. By incorporating these indicators, you can make more informed trading decisions and potentially increase your profitability.

Conclusion

Mastering the Falling and Rising Three Methods indicator in ProRealTime can be a game-changer for your trading strategy. By understanding and implementing these patterns, you can enhance your market analysis and make more informed decisions. So, get coding and start leveraging these powerful indicators today!

If you have any questions or need further assistance, feel free to reach out. Happy trading!

Complete code:

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. ARNAUD20 • 98 days ago #

    J’ai, télécharger le logiciel : falling-and-rising-3-methods.itf : rien se passe sur le graphique. Je ne comprends pas ; merci de t’ai explication.

  2. DeathMetal • 93 days ago #

    C’est un modèle assez rare, essayez-le sur un petit laps de temps, par exemple 5 minutes et sur différents marchés

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