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CDLDOJISTAR

Type: cdldojistar • Category: indicators

Description​

Doji Star

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLDOJISTAR"

Help​

CDLDOJISTAR

Doji Star​

Description​

The CDLDOJISTAR worker is an indicator used in financial analysis to identify a specific candlestick pattern known as the Doji Star. This pattern is considered significant in technical analysis as it can signal a potential reversal in the market trend.

What does this worker do?​

The CDLDOJISTAR worker analyzes price data to identify the Doji Star pattern, which consists of two consecutive candlesticks with the following characteristics:

  • The first candlestick is a long candlestick in the direction of the current trend.
  • The second candlestick is a doji (a candlestick with a very small or non-existent body), which indicates indecision in the market.

The worker takes the following parameters:

  • dataExp: prices data
  • open: No description
  • high: No description
  • low: No description
  • close: No description
  • pattern: No description

How to interpret the results​

When the CDLDOJISTAR worker identifies a Doji Star pattern, it can be interpreted as a potential signal for a market trend reversal. The pattern can occur at the top or bottom of a trend, and its significance is determined by the context in which it appears.

  • A bullish Doji Star ( occurring at the bottom of a downtrend) can indicate a potential reversal to an uptrend.
  • A bearish Doji Star (occurring at the top of an uptrend) can indicate a potential reversal to a downtrend.

Usage​

To use the CDLDOJISTAR worker, simply pass in the required parameters and the worker will analyze the price data to identify the Doji Star pattern.

Visualizing the Indicator​

The following images demonstrate how to use the CDLDOJISTAR worker:

Full Indicator Usage​

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

Short Indicator Usage​

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

Additional Knowledge​

The Doji Star pattern is considered a relatively weak reversal signal, and its effectiveness can be improved when used in conjunction with other technical indicators. It is essential to consider the overall market context and other factors before making trading decisions based on this pattern.