Course Name: Candlestick Patterns based Automated Trading, Section No: 9, Unit No: 6, Unit type: Notebook
in Entry Condition it says: "If the Close prices of the last 3 candles are in descending order," I think the candles are in ascending order if you see the graphic in the notebook, please correct me if I'm wrong
Hi Sebastian,
Here, by descending, we mean to say that the close price of the candle just previous to the hammer is greater than its previous candle and so on, then it can be considered as an uptrend. Let's say there are 3 candles, candle_1, candle_2, candle_3 and then a hammer. So if close (candle_3) > close (candle_2) > close (candle_3), then we are taking it as an uptrend.
Hope this helps!