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CDLCOUNTERATTACK

Type: cdlcounterattack • Category: indicators

Description​

Counterattack

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLCOUNTERATTACK"

Help​

CDLCOUNTERATTACK

Description​

The CDLCOUNTERATTACK indicator is a financial analysis tool used to identify specific patterns in price movements. It is classified as a candlestick pattern indicator, which analyzes the shapes and formations of candlesticks on a chart to provide insights into market trends and potential reversals.

What does this worker do?​

The CDLCOUNTERATTACK worker examines the prices data, specifically focusing on the open, high, low, and close prices of a financial instrument. It identifies a specific pattern known as the Counterattack pattern. This pattern typically involves two candlesticks and is considered a reversal pattern, suggesting a potential change in the direction of the market.

How to interpret the results​

When the CDLCOUNTERATTACK indicator identifies a Counterattack pattern, it can be interpreted as a bullish or bearish signal, depending on the context and the specific characteristics of the pattern.

  • A bullish Counterattack pattern occurs at the end of a downtrend and is characterized by a bearish candlestick followed by a bullish candlestick that closes above the midpoint of the previous candlestick's body. This pattern suggests that the sellers are losing control, and buyers are starting to gain strength.

  • A bearish Counterattack pattern occurs at the end of an uptrend and is characterized by a bullish candlestick followed by a bearish candlestick that closes below the midpoint of the previous candlestick's body. This pattern suggests that the buyers are losing control, and sellers are starting to gain strength.

Usage​

To use the CDLCOUNTERATTACK indicator, simply apply it to your price data, ensuring that you have the necessary data points (open, high, low, close). The indicator will then identify and signal when a Counterattack pattern occurs.

Visualizing the Indicator​

For a visual guide on how to apply and interpret the CDLCOUNTERATTACK indicator, refer to the following GIFs:

Full Usage Example​

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

Short Usage Example​

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

Additional Knowledge​

The CDLCOUNTERATTACK, or Counterattack, is part of a broader category of candlestick pattern indicators used in technical analysis. These patterns are significant because they can indicate a shift in sentiment among market participants. However, like all technical analysis tools, it is most effective when used in conjunction with other forms of analysis and risk management techniques.

Parameters​

  • dataExp: Prices data
    • open: The opening price of the financial instrument.
    • high: The highest price of the financial instrument during the period.
    • low: The lowest price of the financial instrument during the period.
    • close: The closing price of the financial instrument.
  • pattern: The specific candlestick pattern being identified (in this case, Counterattack).