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CDLSHORTLINE

Type: cdlshortline • Category: indicators

Description​

Short Line Candle

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLSHORTLINE"

Help​

CDLSHORTLINE

Short Line Candle​

Description​

The CDLSHORTLINE indicator is a financial analysis tool used to identify Short Line Candle patterns in price data. This indicator is designed to help traders and analysts detect specific candlestick patterns that can provide insights into market trends and potential reversals.

What does this worker do?​

The CDLSHORTLINE indicator analyzes the given price data, which includes open, high, low, and close prices, to identify Short Line Candle patterns. A Short Line Candle is a candlestick with a small body and short wicks, indicating a lack of conviction in the market. This pattern can be either bullish or bearish, depending on its position within the larger trend.

How to interpret the results​

The CDLSHORTLINE indicator generates a signal when it detects a Short Line Candle pattern. The interpretation of this signal depends on the context in which it appears:

  • Bullish Signal: A Short Line Candle pattern appearing during a downtrend can indicate a potential reversal or stabilization of the price.
  • Bearish Signal: A Short Line Candle pattern appearing during an uptrend can indicate a potential loss of momentum or reversal of the price.

Usage​

To use the CDLSHORTLINE indicator, simply provide the required price data, including:

  • dataExp: prices data
  • open: open prices
  • high: high prices
  • low: low prices
  • close: close prices
  • pattern: the pattern to be identified (in this case, Short Line Candle)

Visual Representation​

For a better understanding of how to use the CDLSHORTLINE indicator, 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 Knowledge​

The Short Line Candle pattern is considered a neutral pattern, as it can appear in both bullish and bearish markets. However, its significance increases when it appears at key support or resistance levels. Traders and analysts often use this pattern in conjunction with other technical and fundamental analysis tools to make more informed trading decisions.