Please keep in mind that the Tri-Star candlestick pattern has a bullish and bearish version, this tutorial will go over the bullish version.
The Tri-Star pattern is a three candle Doji pattern that acts as a bullish reversal pattern 60% of the time and appears in the context of a downtrend.
The first candle is a Doji.
The second candle is also a Doji, but the body of this Doji must be underneath the bodies of the other two Doji candles. This pattern often comes with a gap.
The third candle is of course another Doji, but again its body should be above the body of the middle Doji. Though it’s okay if each candle’s wicks overlap each other.
This candlestick pattern is hard to find on larger time frames, but it comes with a strong breakout to the upside so it’s definitely worth remembering.
If you do trade the Tri-Star pattern make sure to trade the bullish version since the bearish Tri-Star has a reversal accuracy of only 52%, which is too near random to be considered a reliable trading pattern. But even with this said, both pattern versions come with stronger breakouts on smaller time frames so make sure to remember this pattern, especially if you day trade