CDLPIERCING

Type: cdlpiercing • Category: indicators

Description

Piercing Pattern

Parameters

Name	Type	Description	Required	Default
open	string		no
high	string		no
low	string		no
close	string		no
pattern	string		no	"CDLPIERCING"

Help

CDLPIERCING

Overview

The CDLPIERCING indicator is a financial market indicator that identifies a specific candlestick pattern known as the Piercing Pattern.

Description

The Piercing Pattern is a bullish reversal pattern that occurs at the end of a downtrend. It consists of two candlesticks: the first candlestick is a long bearish candlestick, and the second candlestick is a bullish candlestick that closes above the midpoint of the first candlestick.

What does this worker do?

This worker calculates the CDLPIERCING indicator for a given set of financial market data, specifically the open, high, low, and close prices.

How to interpret the results

The CDLPIERCING indicator returns a value that indicates the presence and type of the Piercing Pattern. A value of 1 indicates a bullish Piercing Pattern, while a value of -1 indicates a bearish Piercing Pattern (although this is not typical for this pattern). A value of 0 indicates that the pattern is not present.

Parameters

The following parameters are required to calculate the CDLPIERCING indicator:

Parameters Schema (JSON)

{
  "open": {
    "type": "string",
    "description": "The open price of the financial instrument"
  },
  "high": {
    "type": "string",
    "description": "The high price of the financial instrument"
  },
  "low": {
    "type": "string",
    "description": "The low price of the financial instrument"
  },
  "close": {
    "type": "string",
    "description": "The close price of the financial instrument"
  },
  "pattern": {
    "type": "string",
    "default": "CDLPIERCING",
    "description": "The type of pattern to calculate (default is CDLPIERCING)"
  }
}

Detailed Parameters

• open: The open price of the financial instrument. (string)
• high: The high price of the financial instrument. (string)
• low: The low price of the financial instrument. (string)
• close: The close price of the financial instrument. (string)
• pattern: The type of pattern to calculate. Default is CDLPIERCING. (string)