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TrendSpider Software Update: New Raindrop Candle Patterns Added

At TrendSpider, we are constantly working on adding new, useful features to our platform as well as updating and improving the ones we currently have. In this blog post, we take a look at the addition of new Raindrop candlestick patterns like the “Ballon” and “Double Flip”. Enjoy!

New Raindrop Candle Patterns

Raindrop/Balloon Pattern

Both the left and right VWAP are higher than 60% of the body AND at least 80% of the volume of the candle resides above 60% of a raindrop’s body.

 

Raindrop “Double Flip”

For purpose of the “Double Flip”, a Raindrop candlestick is a “flip” if there’s more than 33% of a candle’s body between Left and Right prices.

Double Flip Bearish: green flip, then red flip, red flip having right lower than green flip’s low.
Double Flip Bullish: red flip, then green flip, green flip having right higher than red flip’s high.

 

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