Three white soldiers
Three straight bullish one-minute candles, each closing higher and opening inside the one before: a short buying run.
Three White Soldiers checks the last three candles on each bar. All three must close above their open, each close must be higher than the one before, and each candle must open inside the real body of the candle before it. It reads only opens and closes, so highs and lows are passed in but unused, and no candle size is checked.
How to read it
- Each marker is drawn on the bar that closes the third of three green one-minute candles, once that bar has closed.
- Green means the close is above the open. Each of the three closes higher than the one before, and each opens inside the body of the one before it.
- A marker says short-term buying is already under way. It does not forecast that the rise will continue.
- Consecutive markers mean the run held for another minute, so read a cluster of markers as one run.
What it outputs
- Three white soldiers
- Marks the bar that closes the third candle of a bullish run that meets every rule. No marker on other bars.
When it fires
Fires on the bar that closes the third of three bullish candles, each closing higher than the one before and opening inside the prior real body. On the default SPY sample it fired on 0.75% of bars: 126 separate runs, about 6 a day.
Pitfalls
- The catalog says long, strong candles, but the code sets no minimum body or wick size. Tiny green candles with higher closes qualify, so many one-minute markers are small noise.
- Nothing checks the trend before the run, so a run can start after a drop or inside a choppy range. The marker prints only after the third candle has closed, so price has already risen for three minutes.
- Highs and lows are passed in but never used. The open tests are strict, so a candle that opens exactly at the prior open or close does not mark.