This pattern-based strategy scans for two consecutive lows at roughly the same price separated by a set distance. After the second bottom forms, a bullish candle confirms the reversal.
When confirmation occurs, the system buys with a stop below the pattern lows. The setup aims to capture sharp rebounds from exhausted selling.
Exits rely on a predefined stop-loss or manual profit targets.
Entry Criteria: Two bottoms form within SimilarityPercent after Distance bars.
Long/Short: Long only.
Exit Criteria: Price fails or stop-loss.
Stops: Yes.
Default Values:
Distance = 5
SimilarityPercent = 2.0m
CandleType = TimeSpan.FromMinutes(15)
StopLossPercent = 1.0m
[*]Filters:
Category: Pattern
Direction: Long
Indicators: Price Action
Stops: Yes
Complexity: Intermediate
Timeframe: Intraday
Seasonality: No
Neural Networks: No
Divergence: Yes
Risk Level: Medium