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AlchemyTripleHighBar (Function)

AlchemyTripleHighBar identifies a triple top bar.  If the criteria of a triple top bar is met, the AlchemyTripleHighBar function returns 1, otherwise a -1 will be returned.

AlchemyTripleHighBar (ClRange)

Parameters

ClRange

Specifies the current bar's range percentage below which the current bar needs to closer under.

Returns

If the criteria of a triple top bar is met, the AlchemyTripleHighBar function returns 1, otherwise a -1 will be returned.

Usage

Triple Tops: In an uptrend, a triple top is three prominent peaks, meaning that the sideways movement continued longer. If the price closes higher than the prior peaks, the uptrend will probably be resumed. However, if the price declines below its prior peak and begins to weaken, a trend reversal may be beginning.

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