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CDLENGULFING

Type: cdlengulfing • Category: indicators

Description​

Engulfing Pattern

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLENGULFING"

Help​

CDLENGULFING

Engulfing Pattern​

Description​

The CDLENGULFING worker is an indicator used in financial analysis to identify engulfing patterns in price charts. This pattern is a type of candlestick pattern that can signal a potential reversal in the market.

What does this worker do?​

The CDLENGULFING worker takes in price data and returns a value indicating whether an engulfing pattern has been identified. The worker uses the following parameters:

  • dataExp: prices data
  • open: opening price
  • high: highest price
  • low: lowest price
  • close: closing price
  • pattern: engulfing pattern type

How to interpret the results​

The CDLENGULFING worker returns a value that indicates the presence of an engulfing pattern. There are two types of engulfing patterns:

  • Bullish Engulfing: A bullish engulfing pattern occurs when a small bearish candle is followed by a large bullish candle that completely engulfs the previous candle. This pattern can signal a potential reversal in the market, indicating a possible upward trend.
  • Bearish Engulfing: A bearish engulfing pattern occurs when a small bullish candle is followed by a large bearish candle that completely engulfs the previous candle. This pattern can signal a potential reversal in the market, indicating a possible downward trend.

How to use the CDLENGULFING worker​

To use the CDLENGULFING worker, simply pass in the required parameters and the worker will return a value indicating the presence of an engulfing pattern.

Example usage​

// Example usage
const dataExp = [...]; // prices data
const open = [...]; // opening price
const high = [...]; // highest price
const low = [...]; // lowest price
const close = [...]; // closing price

const pattern = CDLENGULFING(dataExp, open, high, low, close);

Visualizing the CDLENGULFING worker​

The following images demonstrate how to use the CDLENGULFING worker:

Full demonstration​

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

Short demonstration​

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

Additional knowledge​

The engulfing pattern is a popular candlestick pattern used in technical analysis. It is considered a reliable pattern when it occurs at the end of a trend. The pattern can be used in conjunction with other technical indicators to confirm trading decisions. However, as with any technical indicator, it should not be used in isolation and should be considered in the context of the overall market and economic conditions.