Reversal candles ( Basic)!Reversal candles ( Basic)!
1. Double Bar Low Higher Close ( DBLHC)
The DBLHC pattern consists of two candles.
The Lows of both candles need to be very close (within few pips).
The Close of the 2nd bar need to be Higher than the previous bar's high.
2. Double High Lower Close (DBHLC)
The DBHLC pattern consists of two candles.
The Highs of both candles need to be very close (within few pips).
The Close of the 2nd bar need to be lower than the previous bar's low.
3. Bearish Outside Vertical Bar (BEOVB)
The Bearish Outside Vertical Bar pattern consists of two candles.
The second candlestick is a bearish candlestick.
The second candlestick has a Higher High and a Lower Low than the first candlestick.
The Close of the second candle should be in the last third of the bar.
4. Bullish Outside Vertical Bar (BUOVB)
The Bullish Outside Vertical Bar pattern consists of two candles.
The second candlestick is a bullish candlestick.
The second candlestick has a Higher High and a Lower Low than the first candlestick.
The Close of the second candle should be in the last third of the bar
5. Pinbar
The significant Pin Bar pattern consists of one candlestick.
Unlike standard pin bar, the tail of the candlestick is bigger than its body and at least 3 times bigger than its nose.
