TweezerBottom — Tweezer Bottom

Two consecutive bars with matching lows after a decline: the same level was defended twice. Returns +1.

Signature

TweezerBottom(lookback, tolerance, on=<source>)

Argument	Type	Required	Notes
lookback	int Param	Yes	Pinned at 1. Bounds 1–1.
tolerance	float Param or literal	Yes	How close the two lows must be, as a fraction. Default 0.001 (0.1%), bounds 0.0–0.05.
on=	symbol	No	Source symbol. Defaults to the trade symbol. Reads open, high, low, close.

Formula

Two lows within tolerance of each other, the first bar black and the second white.

Warmup

One bar of state.

Reading the value

p.value
p > 0

Pattern indicators return a flag, not a level: +1 bullish, -1 bearish, 0 absent. They are zero on most bars by design, so treat them as event triggers rather than as something to smooth or cross.

Example

class TweezerBottomEntry(Strategy):
    """Act on the pattern only in the direction of the longer trend."""
    trade = Symbol()
    sizing = FixedCapital()

    def execute(self):
        p = TweezerBottom(1, 0.001, on=self.trade)
        sma = SMA(50, on=self.trade)
        if p.value > 0 and self.trade.is_flat:
            self.buy(self.trade, reason="Tweezer bottom")
        if self.trade.is_long and self.trade.close < sma.value:
            self.sell(self.trade, self.trade.position, reason="Trend lost")

Notes

• The bullish mirror of TweezerTop.