CDLLONGLINE
Type:
cdllongline• Category:indicators
Description
Long Line Candle
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 | "CDLLONGLINE" |
Help
CDLLONGLINE
Long Line Candle
Description
The CDLLONGLINE indicator, also known as the Long Line Candle, is a financial analysis tool used to identify specific candlestick patterns in price data. This indicator is part of a broader category of candlestick pattern recognition tools that help traders and analysts interpret market trends and potential future movements.
What does this worker do?
The CDLLONGLINE worker analyzes price data, specifically looking for candlestick patterns that are characterized by a long body with little to no wicks on either end. This pattern can appear in both bullish and bearish markets and is used to gauge market sentiment.
Parameters
dataExp: The price data to be analyzed.open: The opening price of the candlestick.high: The highest price of the candlestick.low: The lowest price of the candlestick.close: The closing price of the candlestick.pattern: The specific pattern to identify (in this case, a long line).
How to Interpret the Results
The appearance of a long line candlestick can have different implications depending on its color (green or red) and the context of the market:
- Bullish Interpretation: A long green (or white) candlestick indicates strong buying pressure, suggesting that the asset may continue to rise.
- Bearish Interpretation: A long red (or black) candlestick indicates strong selling pressure, suggesting that the asset may continue to fall.
Usage Example
To better understand how to use the CDLLONGLINE indicator, you can refer to the following GIFs:
Full Usage Example
[](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)
Short Usage Example
[](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)
Additional Knowledge
The Long Line Candle is considered a significant pattern in candlestick charting. It signifies a strong move in one direction, indicating that buyers or sellers are in control. However, like all technical analysis tools, it is most effective when used in conjunction with other indicators and analysis techniques to confirm trading signals.
Conclusion
The CDLLONGLINE indicator provides traders and analysts with a valuable tool for identifying potential trend continuations or reversals based on candlestick patterns. By understanding and correctly interpreting the Long Line Candle, users can gain insights into market sentiment and make more informed trading decisions.