DeskPatterns
Piercing Line
A bullish close through the prior midpoint that does not engulf.
Two candles: a bearish body, then a bullish close through its midpoint that stays inside that body. If the second body fully contains the first, that is Bullish Engulfing instead. On perpetual futures the second bar opens at the prior close — the close location is the rule, not a gap. Knowable on the second close. An event — no end.
The first candle needs a body. Without that bound, piercing the midpoint of a body worth 1.7 % of its range also counts — noise whose “midpoint” means nothing.
Settings
Minimum penetration of the first body (default 0.5) and First candle
minimum body as a fraction of its range (default 0.25, the same as
Bullish Harami).