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CDLPIERCING

Type: cdlpiercing • Category: indicators

Description​

Piercing Pattern

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLPIERCING"

Help​

CDLPIERCING

Description​

The CDLPIERCING indicator is a financial analysis tool used to identify the Piercing Pattern, a bullish reversal signal.

Overview​

The Piercing Pattern is a two-candlestick pattern that appears during a downtrend. It is characterized by a first candlestick with a long body and a second candlestick that opens lower than the first candlestick's low, but closes above the midpoint of the first candlestick's body.

What does this worker do?​

The CDLPIERCING worker analyzes price data and identifies occurrences of the Piercing Pattern. It takes the following parameters:

  • dataExp: prices data
  • open: opening prices
  • high: high prices
  • low: low prices
  • close: closing prices
  • pattern: the Piercing Pattern to be identified

How to interpret the results​

When the CDLPIERCING worker identifies a Piercing Pattern, it indicates a potential bullish reversal. This means that the downtrend may be coming to an end, and a new uptrend may be emerging.

Usage​

To use the CDLPIERCING worker, simply pass in the required parameters. The worker will then analyze the data and return the identified patterns.

Example Usage​

// Example code to be provided

Visualizing the Indicator​

The following images demonstrate how to use the CDLPIERCING indicator:

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 Piercing Pattern is considered a reliable bullish reversal signal, especially when it appears during a downtrend. However, as with any technical indicator, it should be used in conjunction with other forms of analysis and risk management techniques to maximize its effectiveness.