Today, we present you the addition to our collection of automatic chart patterns: Cup and Handle and Inverted Cup and Handle.
A Cup and Handle is a trend continuation pattern, which is a U-shaped trend correction — a cup and another smaller movement immediately following it, a handle. The handle can also have a U-shape or can be presented as a trendline. It is believed that after the breakdown of the handle, the price will go further in the direction of the trend by at least the height of the cup.
Like our other automatic patterns, the new indicators analyze the previous 600 bars. They have all the functions of the other patterns and are included in the “All Chart Patterns” indicator.
To add patterns to the chart, go to the “Indicators, Metrics & Strategies” menu, the “Technicals” section, “Patterns” tab.
Please note that the new indicators are currently in beta testing and are only available to users with Premium subscriptions or higher.
We are looking forward to receiving your feedback, suggestions, and comments on how the patterns are working for you.
Team TradingView