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
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.