A piercing pattern is known in technical analysis to be a potential signal for a bullish reversal. The formation in its strictest form is rather rare, but tends to perform better the longer the downtrend in front of it. When technical studies such as RSI, Stochastic or MACD are showing a bullish divergence at the same time a piercing pattern appears, it strengthens the likelihood that this two-day pattern is meaningful.
This is a two-candle pattern. The previous candle must be bearish, the recent candle must open below the close of the previous candle, the recent candle must close above the middle of the previous candle. You can adjust the closing and opening gap between the two candles within this scanner's settings (price).
line 8: 'float' could not be a variable or function name
Script 'Piecing Pattern Scanner' has been saved
Add to Chart operation failed, reason: line 8: 'float' could not be a variable or function name
TsangYouJun
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@garbte, from my code, float is on line-5. Perhaps if you post your code to me as a link, I can review it.