The number of bars used to calculate the highest High.
Description
Key Reversal Down marks the high of any bar whose High is higher than the previous bar's High and whose Close is lower than the previous bar's Close. A Key Reversal Down pattern can signify the end of an uptrend when confirmed by increases in trading volume.
Using the Key Reversal Down ShowMe Study with an indicator such as OBV (On Balance Volume) or an indicator that uses volume and price to determine buying and selling pressure enables you to more accurately analyze a market.
Key Reversal: In a bearish key reversal the market OPENS above the prior close, often leaving a gap, sets a new high, and then closes the day lower than the prior days close. The pattern becomes stronger if the two days comprising the pattern are wide range days (spikes) or if the spike on the reversal day is extreme.
This reversal pattern takes time to form and typically has the following price moves: An upside move accompanied by good volume and a brief pullback forms the left shoulder. After this, another move with high volume forms a higher peak and a pullback till the bottom of the previous move forms the head.
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Disclaimer
Using the Key Reversal Down ShowMe Study with an indicator such as OBV (On Balance Volume) or an indicator that uses volume and price to determine buying and selling pressure enables you to more accurately analyze a market.