---input---
To ''italicize text'', put two consecutive apostrophes on each side of it.

Three apostrophes each side will '''bold the text'''.

Five consecutive apostrophes on each side (two for italics plus three for bold) produces '''''bold italics'''''.

'''''Italic and bold formatting''''' works correctly only within a single line.

''''''foo''''''

L''''''Étranger'''''

'' a ''' a ''' a ''

'' a ''' a '' a '''

''''' a '' a '''
''''' a ''' a ''

''''' a
a

''a[[b|c]]d
a[[b|''c]]d
''a{{b|c}}d
a{{b|''c}}d

---tokens---
'To'          Text
' '           Text
"''"          Generic.Emph
'italicize'   Generic.Emph
' '           Generic.Emph
'text'        Generic.Emph
"''"          Generic.Emph
','           Text
' '           Text
'put'         Text
' '           Text
'two'         Text
' '           Text
'consecutive' Text
' '           Text
'apostrophes' Text
' '           Text
'on'          Text
' '           Text
'each'        Text
' '           Text
'side'        Text
' '           Text
'of'          Text
' '           Text
'it'          Text
'.'           Text
'\n'          Text

'\n'          Text

'Three'       Text
' '           Text
'apostrophes' Text
' '           Text
'each'        Text
' '           Text
'side'        Text
' '           Text
'will'        Text
' '           Text
"'''"         Generic.Strong
'bold'        Generic.Strong
' '           Generic.Strong
'the'         Generic.Strong
' '           Generic.Strong
'text'        Generic.Strong
"'''"         Generic.Strong
'.'           Text
'\n'          Text

'\n'          Text

'Five'        Text
' '           Text
'consecutive' Text
' '           Text
'apostrophes' Text
' '           Text
'on'          Text
' '           Text
'each'        Text
' '           Text
'side'        Text
' '           Text
'('           Text
'two'         Text
' '           Text
'for'         Text
' '           Text
'italics'     Text
' '           Text
'plus'        Text
' '           Text
'three'       Text
' '           Text
'for'         Text
' '           Text
'bold'        Text
')'           Text
' '           Text
'produces'    Text
' '           Text
"''"          Generic.Emph
"'''"         Generic.EmphStrong
'bold'        Generic.EmphStrong
' '           Generic.EmphStrong
'italics'     Generic.EmphStrong
"'''"         Generic.EmphStrong
"''"          Generic.Emph
'.'           Text
'\n'          Text

'\n'          Text

"''"          Generic.Emph
"'''"         Generic.EmphStrong
'Italic'      Generic.EmphStrong
' '           Generic.EmphStrong
'and'         Generic.EmphStrong
' '           Generic.EmphStrong
'bold'        Generic.EmphStrong
' '           Generic.EmphStrong
'formatting'  Generic.EmphStrong
"'''"         Generic.EmphStrong
"''"          Generic.Emph
' '           Text
'works'       Text
' '           Text
'correctly'   Text
' '           Text
'only'        Text
' '           Text
'within'      Text
' '           Text
'a'           Text
' '           Text
'single'      Text
' '           Text
'line'        Text
'.'           Text
'\n'          Text

'\n'          Text

"'"           Text
"''"          Generic.Emph
"'''"         Generic.EmphStrong
'foo'         Generic.EmphStrong
"'"           Generic.EmphStrong
"'''"         Generic.EmphStrong
"''"          Generic.Emph
'\n'          Text

'\n'          Text

'L'           Text
"'"           Text
"''"          Generic.Emph
"'''"         Generic.EmphStrong
'Étranger'    Generic.EmphStrong
"'''"         Generic.EmphStrong
"''"          Generic.Emph
'\n'          Text

'\n'          Text

"''"          Generic.Emph
' '           Generic.Emph
'a'           Generic.Emph
' '           Generic.Emph
"'''"         Generic.EmphStrong
' '           Generic.EmphStrong
'a'           Generic.EmphStrong
' '           Generic.EmphStrong
"'''"         Generic.EmphStrong
' '           Generic.Emph
'a'           Generic.Emph
' '           Generic.Emph
"''"          Generic.Emph
'\n'          Text

'\n'          Text

"''"          Generic.Emph
' '           Generic.Emph
'a'           Generic.Emph
' '           Generic.Emph
"'''"         Generic.EmphStrong
' '           Generic.EmphStrong
'a'           Generic.EmphStrong
' '           Generic.EmphStrong
"''"          Generic.EmphStrong
' '           Generic.Strong
'a'           Generic.Strong
' '           Generic.Strong
"'''"         Generic.Strong
'\n'          Text

'\n'          Text

"''"          Generic.Emph
"'''"         Generic.EmphStrong
' '           Generic.EmphStrong
'a'           Generic.EmphStrong
' '           Generic.EmphStrong
"''"          Generic.EmphStrong
' '           Generic.Strong
'a'           Generic.Strong
' '           Generic.Strong
"'''"         Generic.Strong
'\n'          Text

"''"          Generic.Emph
"'''"         Generic.EmphStrong
' '           Generic.EmphStrong
'a'           Generic.EmphStrong
' '           Generic.EmphStrong
"'''"         Generic.EmphStrong
' '           Generic.Emph
'a'           Generic.Emph
' '           Generic.Emph
"''"          Generic.Emph
'\n'          Text

'\n'          Text

"''"          Generic.Emph
"'''"         Generic.EmphStrong
' '           Generic.EmphStrong
'a'           Generic.EmphStrong
'\n'          Text

'a'           Text
'\n'          Text

'\n'          Text

"''"          Generic.Emph
'a'           Generic.Emph
'[['          Punctuation
'b'           Name.Tag
'|'           Punctuation
'c'           Text
']]'          Punctuation
'd'           Generic.Emph
'\n'          Text

'a'           Text
'[['          Punctuation
'b'           Name.Tag
'|'           Punctuation
"''"          Generic.Emph
'c'           Generic.Emph
''            Punctuation
']]'          Punctuation
'd'           Text
'\n'          Text

"''"          Generic.Emph
'a'           Generic.Emph
''            Punctuation
'{{'          Punctuation
'b'           Name.Tag
'|'           Punctuation
'c'           Text
'}}'          Punctuation
'd'           Text
'\n'          Text

'a'           Text
'{{'          Punctuation
'b'           Name.Tag
'|'           Punctuation
"''"          Generic.Emph
'c'           Generic.Emph
''            Punctuation
'}}'          Punctuation
'd'           Text
'\n'          Text