Rare Candlestick Formations
By LuxAlgoJun 2, 2026
Rare Candlestick Formations is an indicator on Vela, our next-generation charting platform, written in Pine Script®.
Rare Candlestick Formations watches the long tail of the candlestick catalog in one screener: fifteen rare candlestick formations, advance block to concealing baby swallow to the new-price-lines exhaustion count. Each detection enforces the strict classical sequence of body sizes, colors, gaps, and shadows, with thresholds scaled to the recent average body and ATR; a prior-trend rule gates every formation except the count-based new price lines: no qualifying advance or decline, no signal.
How to Trade the Rare Candlestick Formations?
- Bullish reversals in a decline: three stars in the south, unique three-river bottom, concealing baby swallow, stick sandwich, homing pigeon, ladder bottom.
- Bearish warnings in an advance: advance block, deliberation, descending hawk, ladder top, upside gap two crows.
- Continuations: side-by-side white lines, separating lines, three-line strike, filed with the prior trend.
- New price lines: eight consecutive record sessions by default warn a run is overextended.
Every formation has its own alert, two catch-alls cover any bullish or bearish print, and the dashboard counts occurrences.
Rare Candlestick Formations Settings
- Prior Trend Rule (default EMA) and Trend Length (default 10): the context filter; None disables it.
- Body Average Length (default 14) with Long Body × (default 1.0) and Small Body × (default 0.5): adaptive body classification.
- Long Shadow × (default 0.5) and Marubozu Shadow Tolerance % (default 5): the shadow conditions.
- Price Match Tolerance % ATR (default 10): the equal-price conditions. Keep it tight.
- Require Confirmation Close (default disabled): signals wait for a close beyond the formation's extreme.
- New Price Lines Count (default 8), fifteen catalog toggles (all enabled), plus dashboard and style inputs.
Frequently Asked Questions
Free to use
Run it on Vela. Go further with a paid plan.
- Up to 500 Custom Alerts, with webhook automation
- Up to 10× the chart history of Free
- Orderflow lookback up to full history
- More Quant usage to customize it, plus extra usage when you need it
- Futures data alongside crypto, stocks, forex and commodities
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Open this indicator free on Vela, our next-generation charting platform. Then ask Quant, our coding agent built into Vela, to retune it or turn it into a backtested strategy of your own.