Bullish Marubozu Candlestick on Live Gold

What it shows

Each one gets a blue label marked MW under the candle’s low.

How Pravex works it out

1. For the bullish marubozu, a body is the distance between open and close, and long or small is judged against a 14-candle exponential average of those bodies: above it is long, below it is small. The first 13 candles have no average yet, so no bullish marubozu is found there.
2. The pattern is one rising candle (close above open) with a long body, above the 14-candle average.
3. Both shadows must be tiny: the upper shadow (high minus close) and the lower shadow (open minus low) may each be no more than 5% of the range.
4. Example numbers, not a live price: open 2,000.0, low 1,999.6, high 2,012.4, close 2,012.0. The range is 12.8, each shadow 0.4, about 3% of it. If 12 is above the average body, the label appears.
5. There is no trend input. The code marks the candle wherever it forms.

Settings

Setting	Default	What changing it does
Label colour	Blue (#2196F3)	The fill of the MW label under the low of each candle where the bullish marubozu pattern is complete; its white text needs a colour it reads well on.

How traders read it

A marubozu is momentum in one candle. No dip under the open and no pullback from the high mean nobody sold the move with any weight. Early in a breakout from a range, that is a sign the buyers mean it, and the middle of the body is a common place to look for a retest.

After a long rise it can be the opposite: the last push of buyers who chased, before the move runs out. Look at its size against recent candles. A marubozu several times the average body after a long run is often followed by a pause.

When it misleads

The code only compares the body with the 14-candle average, so after a stretch of quiet candles an ordinary move can count as long. Without a trend test the label appears in ranges too, where a strong candle up is often met by an equally strong one down. The candle still forming is checked again on every update, so a bullish marubozu label can show up on it and vanish before the close; only a bullish marubozu label on a closed candle stays.

Questions and answers

What does a white marubozu mean?

It shows a candle where buyers held control from open to close, with almost no shadows. It is read as bullish strength, more so at the start of a move than at the end of a long one.

How small do the shadows have to be?

In Pravex each shadow can be at most 5% of the candle’s range, and the body must be larger than the 14-candle average body.

What is the opposite of a bullish marubozu?

The bearish (black) marubozu: a long falling candle that opens at its high and closes at its low.

Related: Marubozu Black - Bearish, Three White Soldiers - Bullish, Kicking - Bullish, All Candlestick Patterns, every indicator.