Matching Low

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Figure 1.

Figure 1. Matching Low pattern.

Japanese name: niten zoko / knuki
Forecast: bullish reversal
Trend prior to the pattern: downtrend
Opposite pattern: Matching High

Construction:

  • First candle
    • a candle in a downtrend
    • black body
    • no lower shadow
    • appears as a long line
  • Second candle
    • black body
    • the opening price is below the previous opening price
    • the closing price is at the level of the previous closing price
    • no lower shadow

 

The Matching Low belongs to the least frequently occurring patterns on the charts. Having two candles without lower shadows in a row (i.e. Closing Black Marubozu or Black Marubozu), closing at the same price, is an unusually rare situation.

The first line of the pattern appears as a long line in a downtrend. The second line opens below the prior candle line. As mentioned already, both candles close at the same level.

The pattern is a bullish reversal one and appears in a downtrend. It should be confirmed on the following candles. Its first line acts as a resistance area.

The classic interpretation of the Matching Low pattern is built of two  candles without lower shadows (upper shadow is allowed). Bulkowski, however, relaxed this requirement what resulted in a significantly higher number of recognized patterns.

 

Figure 2.

Figure 2. The Matching Low pattern is built of two black candles belonging to the marubozu group where upper shadows are allowed. In other words, both candles can appear as a Closing Black Marubozu or Black Marubozu. Both closing prices need to be exactly at the same level.
Such configuration is possible only in the markets that are not liquid. In practice, the Matching Low is so rare and occurring almost exclusively in illiquid markets, that its further analysis would be rather theoretical.
On the chart, we can see a Matching Low occurrence. Very low trading volume is not allowing to perform a reliable analysis.

 

Matching Low statistics

Below you can find some Matching Low pattern statistics calculated by CandleScanner software. To see more detailed statistics, for other markets and periodicity try our CandleScanner software. Prices start at only $10, and you can see more detailed statistics, for other markets and periodicity. Click here to find out more!

Pattern name: Matching Low
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 (Matching Low): 100
Number of occurrences (all candlestick patterns): 638,570
% of occurrences (Matching Low): 0.02 %
Average frequency: 22,364.2
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 11 31 15 43
% of
Occurrences
0.00 % 11.00 % 31.00 % 15.00 % 43.00 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 10 25 12 53
% of
Occurrences
0.00 % 10.00 % 25.00 % 12.00 % 53.00 %

 

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
EXC 1 5,034.0 1 100.00 % 1 100.00 %
FCX 1 5,030.0 1 100.00 % 1 100.00 %
FISV 1 5,034.0 1 100.00 % 1 100.00 %
FLIR 1 5,033.0 1 100.00 % 1 100.00 %
GAS 1 5,034.0 1 100.00 % 1 100.00 %
GIS 1 5,034.0 0 0.00 % 1 100.00 %
GMCR 1 4,985.0 1 100.00 % 1 100.00 %
HRL 1 5,034.0 1 100.00 % 1 100.00 %
KMX 1 4,631.0 1 100.00 % 1 100.00 %
LUV 2 2,517.0 2 100.00 % 2 100.00 %

 

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
CSC 1 5,034.0 1 100.00 % 1 100.00 %
HAS 1 5,034.0 1 100.00 % 1 100.00 %
HOT 1 5,034.0 1 100.00 % 1 100.00 %
NFX 1 5,030.0 1 100.00 % 1 100.00 %
TMO 1 5,034.0 1 100.00 % 1 100.00 %
VFC 1 5,034.0 1 100.00 % 1 100.00 %
VLO 1 5,034.0 1 100.00 % 1 100.00 %
VMC 1 5,034.0 1 100.00 % 1 100.00 %
WDC 2 2,517.0 1 50.00 % 1 50.00 %
CHK 3 1,678.0 1 33.33 % 1 33.33 %
Pattern name: Matching Low
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 (Matching Low): 2
Number of occurrences (all candlestick patterns): 166,328
% of occurrences (Matching Low): 0.00 %
Average frequency: 307,017.0
Efficiency statistics (5 candlesticks testing period)

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

 

Efficiency statistics (10 candlesticks testing period)

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

 

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
CAH 1 1,258.0 1 100.00 % 1 100.00 %
IRM 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
CAH 1 1,258.0 0 0.00 % 0 0.00 %
IRM 1 1,258.0 0 0.00 % 0 0.00 %

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