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CDL3INSIDE

Type: cdl3inside • Category: indicators

Description​

Three Inside Up/Down

Parameters​

NameTypeDescriptionRequiredDefault
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDL3INSIDE"

Help​

CDL3INSIDE

Three Inside Up/Down​

Description​

The CDL3INSIDE worker is an indicator used in financial markets to identify specific candlestick patterns, namely the Three Inside Up and Three Inside Down patterns. These patterns are considered reversal patterns and can signal a change in the market trend.

What does this worker do?​

This worker analyzes the given candlestick data (open, high, low, close) to identify occurrences of the Three Inside Up or Three Inside Down patterns, depending on the specified pattern parameter. It helps traders and analysts in identifying potential trend reversals.

How to Interpret the Results​

  • A bullish signal (Three Inside Up) is generated when the pattern parameter is set to "CDL3INSIDE" and the market is in a downtrend, indicating a potential reversal to an uptrend.
  • A bearish signal (Three Inside Down) is generated when the pattern parameter is set to "CDL3INSIDE" and the market is in an uptrend, indicating a potential reversal to a downtrend.
  • The worker returns a value indicating the presence and type of the pattern.

Parameters​

The following parameters can be passed to the CDL3INSIDE worker:

Parameters Schema (JSON)​

{
  "open": {
    "type": "string",
    "description": "The opening price of the candlestick."
  },
  "high": {
    "type": "string",
    "description": "The highest price of the candlestick."
  },
  "low": {
    "type": "string",
    "description": "The lowest price of the candlestick."
  },
  "close": {
    "type": "string",
    "description": "The closing price of the candlestick."
  },
  "pattern": {
    "type": "string",
    "default": "CDL3INSIDE",
    "description": "The pattern to identify. Default is CDL3INSIDE."
  }
}

Detailed Parameters List​

  • open: string - The opening price of the candlestick.
  • high: string - The highest price of the candlestick.
  • low: string - The lowest price of the candlestick.
  • close: string - The closing price of the candlestick.
  • pattern: string - The pattern to identify. Default is CDL3INSIDE.

By using the CDL3INSIDE worker, users can effectively integrate the identification of Three Inside Up/Down patterns into their market analysis and trading strategies.