Tweezer bottom
A red candle then a green one with nearly equal lows: a bullish marker that fires often.
The indicator checks each pair of consecutive one-minute bars. It marks the second bar when the first closed below its open, the second closed above its open, and the two lows are within 0.5% of each other. At SPY's median close of about 765, that band is roughly $3.80, so the lows test is loose. Nothing else is checked: there is no prior downtrend and no price level, so the support its description mentions is only two nearby lows.
How to read it
- Markers sit on the second candle of the pair, the green bar that closes the pattern.
- Read a marker as: price tested a low and the next minute closed above its open. It is a short-lived bounce sign, not a confirmed bottom.
- Two markers never sit on back-to-back bars: a marker needs its own bar green, and the next marker needs that bar red.
What it outputs
- Tweezer bottom
- Marks the green second candle of a red-then-green pair whose lows sit within 0.5% of each other.
When it fires
On the close of a green minute that follows a red minute with a nearly identical low. It means price tested the same low and buyers closed the next minute above its open. That is a small sign of demand at that price, not a confirmed bottom.
Pitfalls
- No trend or level check: a red-then-green pair with close lows fires mid-rally or mid-slide just as readily as after a drop.
- The 0.5% band is about $3.80 at SPY's median close of 765, wide for one-minute bars, with no parameter to tighten it. On September 2026 SPY bars it was on for 17% of bars, about 160 times a day.
- The highs input is passed in but never used, so the pattern ignores the candle highs entirely.