Skip to main content

CDLHIGHWAVE

Type: cdlhighwave • Category: indicators

Description​

High-Wave Candle

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLHIGHWAVE"

Help​

CDLHIGHWAVE

Description​

The CDLHIGHWAVE indicator is a financial analysis tool used to identify High-Wave Candle patterns in price data. This indicator is designed to detect specific candlestick patterns that may indicate a potential change in market direction.

What does this worker do?​

The CDLHIGHWAVE worker analyzes the given price data and identifies High-Wave Candle patterns. It takes the following parameters:

  • dataExp: prices data
  • open: opening prices
  • high: highest prices
  • low: lowest prices
  • close: closing prices
  • pattern: the specific pattern to identify

How to interpret the results​

The CDLHIGHWAVE indicator returns a value indicating the presence of a High-Wave Candle pattern. A High-Wave Candle is a candlestick pattern characterized by a small body and long upper and lower shadows. This pattern may indicate indecision in the market and can be a potential reversal signal.

Usage​

To use the CDLHIGHWAVE indicator, simply pass in the required parameters:

CDLHIGHWAVE(dataExp, open, high, low, close, pattern)

Interpretation of the pattern​

A High-Wave Candle pattern is considered bullish if it appears at the bottom of a downtrend, and bearish if it appears at the top of an uptrend.

Visualizing the Indicator​

For a better understanding of how to use the CDLHIGHWAVE indicator, refer to the following images:

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 Information​

The High-Wave Candle pattern is a type of candlestick pattern that is used in technical analysis. It is characterized by a small body and long upper and lower shadows. This pattern may indicate indecision in the market and can be a potential reversal signal. However, it should be used in conjunction with other forms of analysis and not relied upon exclusively for making trading decisions.