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CDLONNECK

Type: cdlonneck • Category: indicators

Description​

On-Neck Pattern

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLONNECK"

Help​

CDLONNECK

On-Neck Pattern​

Description​

The CDLONNECK indicator is a candlestick pattern indicator used in financial analysis. It identifies the On-Neck pattern, which is a bearish reversal pattern.

What does this worker do?​

The CDLONNECK worker analyzes the given price data and identifies the On-Neck pattern. The On-Neck pattern is a two-candlestick pattern that occurs during a downtrend. It is characterized by a long black candlestick followed by a small white candlestick with a close that is equal to or very close to the low of the previous candlestick.

How to interpret the results​

When the CDLONNECK indicator identifies an On-Neck pattern, it is considered a bearish signal. This indicates that the price is likely to continue its downward trend. Traders and investors can use this signal to make informed decisions about selling or short-selling a security.

Usage​

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

  • dataExp: prices data
  • open: open prices
  • high: high prices
  • low: low prices
  • close: close prices
  • pattern: the identified pattern

Example​

For a better understanding of how to use the CDLONNECK indicator, you can refer to the following GIFs:

Full GIF​

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

Short GIF​

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

Additional Information​

The On-Neck pattern is considered a weak bearish reversal pattern. It is essential to consider other technical and fundamental analysis tools when making trading decisions. The reliability of the On-Neck pattern can be improved when it occurs at the end of a prolonged downtrend or when it is confirmed by other bearish indicators.