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CDLBELTHOLD

Type: cdlbelthold • Category: indicators

Description​

Belt-hold

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLBELTHOLD"

Help​

CDLBELTHOLD

Belt-hold Indicator​

Description​

The CDLBELTHOLD indicator, also known as the Belt-hold indicator, is a technical analysis tool used in financial markets. It is a type of candlestick pattern indicator that helps traders identify potential trend reversals or continuations.

What does this worker do?​

The CDLBELTHOLD worker analyzes price data and identifies the Belt-hold pattern, which is a specific type of candlestick pattern. The worker takes in the following parameters:

  • dataExp: prices data
  • open: opening prices
  • high: highest prices
  • low: lowest prices
  • close: closing prices
  • pattern: the type of pattern to identify (in this case, the Belt-hold pattern)

How to interpret the results​

The CDLBELTHOLD indicator generates a signal when it identifies a Belt-hold pattern in the price data. There are two types of Belt-hold patterns:

  • Bullish Belt-hold: a bullish reversal pattern that occurs when the market is in a downtrend.
  • Bearish Belt-hold: a bearish reversal pattern that occurs when the market is in an uptrend.

When the indicator generates a signal, traders can use it as a potential buy or sell signal, depending on the type of pattern identified.

Additional Information​

The Belt-hold pattern is a relatively rare pattern that occurs when a small body candlestick is followed by a larger body candlestick that engulfs the previous candlestick. The pattern is considered to be more reliable when it occurs at the end of a trend.

Visualizing the Indicator​

For a better understanding of how to use the CDLBELTHOLD indicator, refer to the following GIFs:

Full GIF​

[![Full GIF](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)

Short GIF​

[![Short GIF](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)

By using the CDLBELTHOLD indicator, traders can gain a better understanding of market trends and make more informed trading decisions.