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CdlBreakaway 1


Function - CDLBREAKAWAY
CDLBREAKAWAY
Breakaway

Candlestick Pattern


SYNTAX CdlBreakaway( ARRAY open, ARRAY high, ARRAY low, ARRAY close)
RETURNS NUMERIC ARRAY
DESCRIPTION Breakaway, If a trend has been evident, the breakaway pattern, whether bullish or bearish initially indicates the acceleration of that trend.
ADDITIONAL INFO Bullish Breakaway
Signal: Bullish
Pattern: Reversal
Reliability: Medium
Identification
There is a downtrend but we also see that the prices bottom out and level off now. The result is a long white candlestick that however does not close the initial downward gap of the first and second days. This suggests a short-term reversal.
Bearish Breakaway
Signal: Bearish
Pattern: Reversal
Reliability: Medium
Identification
We see this pattern during an uptrend marked with a bullish surge that eventually weakens. This weakening is illustrated by a long black candlestick that is unable to close the gap into the body of the first day. These events warn us about a short-term reversal.
EXAMPLE CdlBreakaway(open, high, low, close)



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