Bearish Tri-Star

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Figure 1.

Figure 1. Bearish Tri-Star pattern.

Japanese name: santen boshi
Forecast: bearish reversal
Trend prior to the pattern: uptrend
Opposite pattern: Bullish Tri-Star

Construction:

  • First candle
    • a doji candle in an uptrend
  • Second candle
    • a doji candle
    • a body above the prior body
  • Third candle
    • a doji candle
    • a body below the prior body

 

The Bearish Tri-Star pattern is a three-line bearish reversal pattern which all three lines are doji candles (any doji candle, except the Four-Price Doji).

The middle doji (second line) is above the others. The shadows do not matter.

The pattern needs to be confirmed on the following candles, that is the nearest support zone or a trendline has to be broken. The market context, in which the pattern appears, is crucial.

 

Figure 2.

Figure 2. The Bearish Tri-Star is a very special pattern because it is composed of three doji candles indicating the market indecision. Therefore, the market context in which this pattern appears is especially important.
An Opening White Marubozu on the chart is formed at a very high trading volume and naturally acts as a support zone. The three following doji candles create a Bearish Tri-Star pattern. Despite the pattern per definition is classified as a bearish reversal, it is somewhat unlikely to reverse the market while formed in such market context. The difficulty with this pattern is, however, its low frequency. Three doji candles in such specific configuration are not often occurring on the candlestick charts. Consequently, it is hard to have a reliable performance statistics for the Bearish Tri-Star pattern.

 

Bearish Tri Star statistics

Below you can find some Bearish Tri Star pattern statistics calculated by CandleScanner software.

Pattern name: Bearish Tri Star
Scanner settings: daily stocks
Group: S&P500
Number of symbols: 502
Date range: 7/1/1995 - 6/30/2015
Time interval: daily candles
Total number of candlesticks: 2,236,421
Number of occurrences (Bearish Tri Star): 49
Number of occurrences (all candlestick patterns): 638,570
% of occurrences (Bearish Tri Star): 0.01 %
Average frequency: 45,641.2
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 12 21 9 7
% of
Occurrences
0.00 % 24.49 % 42.86 % 18.37 % 14.28 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 11 13 10 15
% of
Occurrences
0.00 % 22.45 % 26.53 % 20.41 % 30.61 %

 

10 top best performing symbols

Occurrences Statistics 5 candlesticks testing period
(HIGH efficiency)
10 candlesticks testing period
(HIGH efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
ABT 1 5,034.0 0 0.00 % 1 100.00 %
ES 1 5,034.0 1 100.00 % 1 100.00 %
HCP 1 5,034.0 0 0.00 % 1 100.00 %
LH 1 5,034.0 1 100.00 % 1 100.00 %
LUK 1 5,034.0 1 100.00 % 1 100.00 %
LUV 1 5,034.0 1 100.00 % 1 100.00 %
NBL 1 5,034.0 0 0.00 % 1 100.00 %
PLD 1 4,428.0 0 0.00 % 1 100.00 %
REGN 1 5,033.0 1 100.00 % 1 100.00 %
TAP 1 5,034.0 1 100.00 % 1 100.00 %

 

10 top worst performing symbols

Occurrences Statistics 5 candlesticks testing period
(FALSE efficiency)
10 candlesticks testing period
(FALSE efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
AEE 1 5,034.0 1 100.00 % 1 100.00 %
ALL 1 5,034.0 1 100.00 % 1 100.00 %
BLK 1 3,961.0 1 100.00 % 1 100.00 %
DLTR 1 5,034.0 1 100.00 % 1 100.00 %
HCBK 2 2,009.0 2 100.00 % 2 100.00 %
ORCL 1 5,034.0 1 100.00 % 1 100.00 %
ROP 1 5,034.0 1 100.00 % 1 100.00 %
SIG 1 4,644.0 1 100.00 % 1 100.00 %
ZION 1 5,034.0 1 100.00 % 1 100.00 %
POM 2 2,517.0 1 50.00 % 1 50.00 %
Pattern name: Bearish Tri Star
Scanner settings: daily stocks
Group: S&P500
Number of symbols: 502
Date range: 7/1/2010 - 6/30/2015
Time interval: daily candles
Total number of candlesticks: 614,034
Number of occurrences (Bearish Tri Star): 2
Number of occurrences (all candlestick patterns): 166,328
% of occurrences (Bearish Tri Star): 0.00 %
Average frequency: 307,017.0
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 1 1 0 0
% of
Occurrences
0.00 % 50.00 % 50.00 % 0.00 % 0.00 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 1 0 1 0
% of
Occurrences
0.00 % 50.00 % 0.00 % 50.00 % 0.00 %

 

10 top best performing symbols

Occurrences Statistics 5 candlesticks testing period
(HIGH efficiency)
10 candlesticks testing period
(HIGH efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
DLTR 1 1,258.0 0 0.00 % 0 0.00 %
TSN 1 1,258.0 0 0.00 % 0 0.00 %

 

10 top worst performing symbols

Occurrences Statistics 5 candlesticks testing period
(FALSE efficiency)
10 candlesticks testing period
(FALSE efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
DLTR 1 1,258.0 1 100.00 % 1 100.00 %
TSN 1 1,258.0 0 0.00 % 0 0.00 %

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