Rickshaw Man Pattern

Rickshaw Man is one of the commonly used candlestick patterns in quantitative trading, representing a neutral pattern.

Calculation Principle

Rickshaw Man pattern is identified by the following conditions:

1. Opening and closing prices are the same
2. Both upper and lower shadows are very long
3. Upper and lower shadow lengths are similar
4. Body is very small or non-existent
5. Pattern appears at a trend reversal point

Parameter Description

• Input Parameters:
  • Open: Opening price
  • High: Highest price
  • Low: Lowest price
  • Close: Closing price
• Parameters:
  • penetration: Body penetration ratio (default: 0)

Usage Recommendations

1. Use in combination with other technical indicators
2. Pay attention to the overall market trend
3. Monitor volume confirmation
4. Set reasonable stop-loss levels
5. Watch for false breakouts

Notes

• Ensure data quality
• Pay attention to pattern completeness
• Consider market environment
• Watch for false signals
• Combine with fundamental analysis
• Pay attention to risk control
• Regularly evaluate strategy effectiveness
• Optimize parameters