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Candlestick Patterns Reference

This document lists all candlestick patterns detected by the Candlestick Patterns Study. All definitions are sourced from The Chart Guys Candlestick Pattern Cheat Sheet.

Pattern Categories

  • Single-Bar Patterns: Formed by one candlestick (11 patterns)
  • Double-Bar Patterns: Formed by two consecutive candlesticks (10 patterns)
  • Triple-Bar Patterns: Formed by three consecutive candlesticks (12 patterns)

Single-Bar Patterns (11 patterns)

Bullish Patterns (4)

  1. Hammer

    • Type: Single Candlestick Pattern
    • Bias: Bullish
    • Description: A single candle with a small body at the top and a long lower shadow, indicating buying pressure.
    • Meaning: Found in downtrends, signaling potential bullish reversal as buyers step in at lower prices.

  2. Inverted Hammer

    • Type: Single Candlestick Pattern
    • Bias: Bullish
    • Description: A single candle with a small body at the bottom and a long upper shadow.
    • Meaning: Appears in downtrends; potential bullish reversal signal, suggesting buyer interest despite selling pressure.

  3. Dragonfly Doji

    • Type: Single Candlestick Pattern
    • Bias: Bullish
    • Description: A doji with a long lower shadow and minimal upper shadow.
    • Meaning: Found in downtrends; signals potential bullish reversal as buyers reject lower prices, indicating support.

  4. Bullish Marubozu

    • Type: Single Candlestick Pattern
    • Bias: Bullish
    • Description: A single bullish candle with little to no wicks on either end.
    • Meaning: Shows strong buying pressure and bullish momentum, often marking sustained upward movement.

Bearish Patterns (4)

  1. Shooting Star

    • Type: Single Candlestick Pattern
    • Bias: Bearish
    • Description: A single candle with a small body at the bottom and a long upper shadow.
    • Meaning: Appears in uptrends; signals potential bearish reversal as sellers step in at higher prices.

  2. Hanging Man

    • Type: Single Candlestick Pattern
    • Bias: Bearish
    • Description: A single candle with a small body at the top and a long lower shadow.
    • Meaning: Found in uptrends; potential bearish reversal, suggesting weakening buying interest despite initial strength.

  3. Gravestone Doji

    • Type: Single Candlestick Pattern
    • Bias: Bearish
    • Description: A doji with a long upper shadow and minimal lower shadow.
    • Meaning: Appears in uptrends; signals potential bearish reversal, indicating resistance as sellers reject higher prices.

  4. Bearish Marubozu

    • Type: Single Candlestick Pattern
    • Bias: Bearish
    • Description: A single bearish candle with little to no wicks on either end.
    • Meaning: Shows strong selling pressure and bearish momentum, often marking the start of sustained downward movement.

Neutral Patterns (3)

  1. Doji

    • Type: Single Candlestick Pattern
    • Bias: Neutral
    • Description: A candle with nearly equal opening and closing prices, forming a cross or plus sign.
    • Meaning: Indicates indecision in the market, with neither buyers nor sellers in control.

  2. Long-Legged Doji

    • Type: Single Candlestick Pattern
    • Bias: Neutral
    • Description: A doji with long shadows on both sides, showing significant price movement but indecision.
    • Meaning: Reflects heightened volatility and uncertainty, with neither buyers nor sellers maintaining control.

  3. Spinning Top

    • Type: Single Candlestick Pattern
    • Bias: Neutral (can be Bullish or Bearish based on candle color)
    • Description: A candle with a small body and long shadows on both sides.
    • Meaning: Indicates market indecision, showing balance between buyers and sellers with neither side dominating.

Double-Bar Patterns (10 patterns)

Bullish Patterns (5)

  1. Bullish Engulfing

    • Type: Double Candlestick Pattern
    • Bias: Bullish
    • Description: The second bullish candle completely engulfs the prior bearish candle's body.
    • Meaning: Found in downtrends; signals potential bullish reversal as buyers overwhelm sellers.

  2. Bullish Harami

    • Type: Double Candlestick Pattern
    • Bias: Bullish
    • Description: A small bullish candle forms within the previous larger bearish candle's body.
    • Meaning: Seen in downtrends, it suggests indecision, with possible bullish reversal if the following candles confirm buying strength, indicating a weakening bearish trend.

  3. Piercing Line

    • Type: Double Candlestick Pattern
    • Bias: Bullish
    • Description: A bullish candle opens below and closes more than halfway into the prior bearish candle.
    • Meaning: Found in downtrends, this pattern suggests a possible bullish reversal if buying continues, as sellers lose control to buyers.

  4. Tweezer Bottom

    • Type: Double Candlestick Pattern
    • Bias: Bullish
    • Description: Two candles with matching or nearly matching lows, typically one bearish and one bullish.
    • Meaning: Appears in downtrends; indicates possible bullish reversal as buyers defend the same support level twice.

  5. Bullish Kicker

    • Type: Double Candlestick Pattern
    • Bias: Bullish
    • Description: Sharp bullish reversal where a strong bullish candle follows a bearish candle, with no overlap.
    • Meaning: Found after downtrends or sell-offs; suggests a sudden shift in sentiment, indicating strong buying interest and potential trend reversal.

Bearish Patterns (5)

  1. Bearish Engulfing

    • Type: Double Candlestick Pattern
    • Bias: Bearish
    • Description: The second bearish candle completely engulfs the prior bullish candle's body.
    • Meaning: Found in uptrends; signals potential bearish reversal as sellers overwhelm buyers.

  2. Bearish Harami

    • Type: Double Candlestick Pattern
    • Bias: Bearish
    • Description: A small bearish candle forms within the previous larger bullish candle's body.
    • Meaning: Seen in uptrends, it suggests indecision with a potential bearish reversal if following candles confirm, indicating a weakening bullish trend.

  3. Dark Cloud Cover

    • Type: Double Candlestick Pattern
    • Bias: Bearish
    • Description: A bearish candle opens above and closes more than halfway into the previous bullish candle.
    • Meaning: Found in uptrends; signals potential bearish reversal if selling continues, as buyers lose control to sellers.

  4. Tweezer Top

    • Type: Double Candlestick Pattern
    • Bias: Bearish
    • Description: Two candles with matching or nearly matching highs, typically one bullish and one bearish.
    • Meaning: Appears in uptrends; indicates potential bearish reversal as sellers defend the same resistance level twice.

  5. Bearish Kicker

    • Type: Double Candlestick Pattern
    • Bias: Bearish
    • Description: Sharp bearish reversal where a strong bearish candle follows a bullish candle, with no overlap.
    • Meaning: Found after uptrends; indicates a sudden sentiment shift, signaling potential trend reversal and intensified selling pressure.

Triple-Bar Patterns (12 patterns)

Bullish Patterns (6)

  1. Morning Star

    • Type: Triple Candlestick Pattern
    • Bias: Bullish
    • Description: Three candles with a bearish, small-bodied middle, and bullish candle.
    • Meaning: Appears in downtrends; signals potential bullish reversal, with the small middle candle indicating indecision, followed by strong buying.

  2. Morning Doji Star

    • Type: Triple Candlestick Pattern
    • Bias: Bullish
    • Description: Three candles with a bearish, doji, and bullish candle.
    • Meaning: Appears in downtrends; signals potential bullish reversal, with indecision from the doji and confirmation by a strong bullish candle.

  3. Bullish Abandoned Baby

    • Type: Triple Candlestick Pattern
    • Bias: Bullish
    • Description: Three candles with a bearish, gapped doji, and bullish candle.
    • Meaning: Appears in downtrends; suggests a strong bullish reversal, as the middle doji shows indecision, with confirmation by a strong bullish move.

  4. Three White Soldiers

    • Type: Triple Candlestick Pattern
    • Bias: Bullish
    • Description: Three consecutive bullish candles with higher closes each day.
    • Meaning: Found in downtrends; signals potential trend reversal, showing sustained buying strength, often signaling the start of a bullish trend.

  5. Three Inside Up

    • Type: Confirmation Pattern
    • Bias: Bullish
    • Description: Three candles with a bullish second candle within the first bearish one, followed by a third bullish candle.
    • Meaning: Found in downtrends; confirms potential bullish reversal, showing building buying pressure as the trend shifts upward.

  6. Three Outside Up

    • Type: Confirmation Pattern
    • Bias: Bullish
    • Description: Three candles with a second bullish candle engulfing the first bearish one, followed by a third bullish candle.
    • Meaning: Found in downtrends; signals a confirmed bullish reversal, as buyers gain control and sustain upward momentum.

Bearish Patterns (6)

  1. Evening Star

    • Type: Triple Candlestick Pattern
    • Bias: Bearish
    • Description: Three candles with a bullish, small-bodied middle, and bearish candle.
    • Meaning: Appears in uptrends; indicates potential bearish reversal, as the small middle candle shows indecision before strong selling.

  2. Evening Doji Star

    • Type: Triple Candlestick Pattern
    • Bias: Bearish
    • Description: Three candles with a bullish, doji, and bearish candle.
    • Meaning: Appears in uptrends; signals potential bearish reversal, as the doji suggests indecision, confirmed by strong selling on the third candle.

  3. Bearish Abandoned Baby

    • Type: Triple Candlestick Pattern
    • Bias: Bearish
    • Description: Three candles with a bullish, gapped doji, and bearish candle.
    • Meaning: Appears in uptrends; indicates strong bearish reversal, as indecision in the doji is followed by selling strength.

  4. Three Black Crows

    • Type: Triple Candlestick Pattern
    • Bias: Bearish
    • Description: Three consecutive bearish candles with lower closes each day.
    • Meaning: Found in uptrends; signals potential bearish reversal, with sustained selling pressure often marking the start of a downtrend.

  5. Three Inside Down

    • Type: Confirmation Pattern
    • Bias: Bearish
    • Description: Three candles with a bearish second candle within the first bullish one, followed by a third bearish candle.
    • Meaning: Found in uptrends; confirms potential bearish reversal, indicating weakening bullish pressure and a possible trend shift.

  6. Three Outside Down

    • Type: Confirmation Pattern
    • Bias: Bearish
    • Description: Three candles with a second bearish candle engulfing the first bullish one, followed by a third bearish candle.
    • Meaning: Found in uptrends; signals a confirmed bearish reversal, as sellers gain control and sustain downward momentum.

Visual Indicators

  • Bullish Patterns: Green triangle marker at candle low with tooltip
  • Bearish Patterns: Red triangle marker at candle high with tooltip
  • Neutral Patterns: Orange circle marker at candle midpoint with tooltip

Pattern Detection Logic

The study uses the following criteria to identify patterns:

  1. Body Size Ratios: Compares candlestick body size to range
  2. Shadow Analysis: Evaluates upper and lower shadow lengths
  3. Multi-Candle Relationships: Checks open/close/high/low relationships across candles
  4. Gap Detection: Identifies gaps between consecutive candles
  5. Engulfing & Containment: Validates body engulfment and containment for Harami patterns
  6. Opposing Candle Colors: Validates color requirements for patterns like Tweezer Top/Bottom

All pattern definitions and criteria are based on The Chart Guys authoritative candlestick pattern reference.

Usage Tips

  1. Combine with Trend Analysis: Patterns are more reliable when aligned with the overall trend
  2. Wait for Confirmation: Consider waiting for the next candle to confirm the pattern
  3. Use with Support/Resistance: Patterns at key levels are more significant
  4. Volume Confirmation: Check volume for additional confirmation (not done by this study)
  5. Filter Settings: Use the enable/disable toggles to focus on specific pattern types
  6. Pattern Priority: Triple-bar patterns take priority over double-bar, which take priority over single-bar patterns

References

All pattern definitions in this document are sourced from:

Revision History

  • 2025-01-XX: Updated all 33 pattern definitions to match Chart Guys authoritative descriptions
  • 2025-01-XX: Fixed Tweezer Top/Bottom to require opposing candle colors as per Chart Guys definitions
  • Initial: Created with MotiveWave study implementation