Names a hammer or a hanging man, which are one shape under two readings.
The shape does not decide it: an identical candle is a hammer at the bottom
of a fall and a hanging man at the top of a rise. So this is the one place
where the run of earlier closes has to be read, and it is read by the rule
#734 gives -- the last CandleShapeThresholds.trendLookback closes
before the candle, each strictly under or over the one before it.
That is a narrow rule and deliberately so. It is the request's own, it can
be stated to a reader in one sentence, and a candle that meets the shape
after an unsteady run is left unnamed rather than given whichever name the
last two closes happen to suggest. Nothing here forecasts anything: the
name says what the drawing is, and a reader who wants to know whether the
fall really was a downtrend can navigate back through it.
A run shorter than the lookback -- the first few candles of any chart --
establishes nothing, and gets no name.
Names a hammer or a hanging man, which are one shape under two readings.
The shape does not decide it: an identical candle is a hammer at the bottom of a fall and a hanging man at the top of a rise. So this is the one place where the run of earlier closes has to be read, and it is read by the rule #734 gives -- the last CandleShapeThresholds.trendLookback closes before the candle, each strictly under or over the one before it.
That is a narrow rule and deliberately so. It is the request's own, it can be stated to a reader in one sentence, and a candle that meets the shape after an unsteady run is left unnamed rather than given whichever name the last two closes happen to suggest. Nothing here forecasts anything: the name says what the drawing is, and a reader who wants to know whether the fall really was a downtrend can navigate back through it.
A run shorter than the lookback -- the first few candles of any chart -- establishes nothing, and gets no name.