CDLRISEFALL3METHODS

Type: cdlrisefall3methods • Category: indicators

Description

Rising/Falling Three Methods

Parameters

Name	Type	Description	Required	Default
open	string		no
high	string		no
low	string		no
close	string		no
pattern	string		no	"CDLRISEFALL3METHODS"

Help

CDLRISEFALL3METHODS

Description

The CDLRISEFALL3METHODS indicator is used in financial markets to identify specific candlestick patterns, specifically the Rising and Falling Three Methods patterns.

Overview

This worker calculates the Rising/Falling Three Methods candlestick pattern, which is a type of continuation pattern in Japanese candlestick charting. The Rising Three Methods pattern occurs during an uptrend, while the Falling Three Methods pattern occurs during a downtrend. These patterns are considered bullish and bearish continuation patterns, respectively.

What does this worker do?

The worker takes in candlestick data (open, high, low, close) and identifies occurrences of the Rising Three Methods and Falling Three Methods patterns.

How to interpret the results

• A bullish signal (or 1) indicates the occurrence of a Rising Three Methods pattern, suggesting a potential continuation of the uptrend.
• A bearish signal (or -1) indicates the occurrence of a Falling Three Methods pattern, suggesting a potential continuation of the downtrend.
• A neutral signal (or 0) indicates that the pattern is not present.

Parameters

The following parameters can be passed to the worker:

Parameters Schema (JSON)

{
  "open": {
    "type": "string",
    "description": "The open price of the candlestick."
  },
  "high": {
    "type": "string",
    "description": "The high price of the candlestick."
  },
  "low": {
    "type": "string",
    "description": "The low price of the candlestick."
  },
  "close": {
    "type": "string",
    "description": "The close price of the candlestick."
  },
  "pattern": {
    "type": "string",
    "default": "CDLRISEFALL3METHODS",
    "description": "The type of pattern to detect. Defaults to CDLRISEFALL3METHODS."
  }
}

Detailed Parameters

• open: string, required. The open price of the candlestick.
• high: string, required. The high price of the candlestick.
• low: string, required. The low price of the candlestick.
• close: string, required. The close price of the candlestick.
• pattern: string, optional. The type of pattern. Defaults to CDLRISEFALL3METHODS.