CDLHOMINGPIGEON
Type:
cdlhomingpigeon• Category:indicators
Description
Homing Pigeon
Parameters
| Name | Type | Description | Required | Default |
|---|---|---|---|---|
dataExp | string | prices data | no | |
open | string | no | ||
high | string | no | ||
low | string | no | ||
close | string | no | ||
pattern | string | no | "CDLHOMINGPIGEON" |
Help
CDLHOMINGPIGEON
Description
The CDLHOMINGPIGEON is a candlestick pattern indicator used in financial analysis. It is identified by a specific pattern in the price action of a security.
What does this worker do?
This worker identifies the Homing Pigeon candlestick pattern in a given price data set. The Homing Pigeon pattern is a bullish reversal pattern that consists of two candlesticks. The first candlestick has a long body and a lower shadow, while the second candlestick has a small body and is completely inside the first candlestick.
How to interpret the results
When the CDLHOMINGPIGEON indicator identifies a Homing Pigeon pattern, it can be interpreted as a bullish signal. This means that the price of the security is likely to increase after the pattern is formed. The indicator returns a value that indicates the presence of the pattern.
Usage
To use this indicator, simply pass in the price data, including the open, high, low, and close prices.
Parameters
dataExp: The price data.open: The open price.high: The high price.low: The low price.close: The close price.pattern: The pattern to be identified.
Example
Here is an example of how to use the CDLHOMINGPIGEON indicator:
// Example usage
CDLHOMINGPIGEON(dataExp, open, high, low, close, pattern)
Visualizing the Indicator
For a better understanding of how to use the CDLHOMINGPIGEON indicator, refer to the following GIFs:
Full GIF
[](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)
Short GIF
[](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)
Additional Information
The Homing Pigeon pattern is a relatively rare pattern, but it can be a reliable indicator of a bullish reversal. It is essential to use this indicator in conjunction with other technical and fundamental analysis tools to confirm trading decisions.
Knowledge about the Indicator
The CDLHOMINGPIGEON indicator is based on the work of Japanese candlestick charting expert, Nison. The Homing Pigeon pattern is one of the many candlestick patterns that Nison identified and wrote about in his book, "Japanese Candlestick Charting Techniques."