OPEN-SOURCE SCRIPT
Updated Broadening Formation Reclaim Stats v1.0
Description: Broadening Formation Reclaim Stats v1.0
Overview
The Broadening Formation Reclaim Stats is a technical analysis tool designed to track and quantify "reclaim" price action within expanding market structures (Broadening Formations). It focuses on scenarios in which price breaches a prior Swing High or Swing Low and subsequently rotates back into the range, often signaling a potential reversal toward the opposite side of the formation.
This indicator is built for traders who study price action rotations, "The Strat" (Rev 2-2 / Failed 2-Down/Up), and liquidity sweeps.
How It Works
The script utilizes a state-machine logic to track price movements relative to high and low pivots:
1. Structure Identification: It identifies recent Pivot Highs and Lows (Auto-Swing mode) or allows users to input specific price levels (Manual mode).
2. The Breach: It identifies when price breaks above the established high or below the established low, "locking" the structure for a potential reclaim.
3. The Reclaim: A signal is generated when price moves back inside the range using specific price action triggers:
Rev 2-2: A reversal pattern where price reverses the direction of the previous candle.
Failed 2-Down/Up: Price makes a new wick extreme but closes back within the previous candle's range and below its opening price.
4. Targets: The script considers a reclaim "Successful" if price reaches the opposite side of the broadening formation (the opposing pivot).
Key Features
Backtesting Dashboard: A real-time table displaying the total number of reclaims, global success rates, and a breakdown of Bullish vs. Bearish performance.
Flexible Lookbacks: Statistics can be calculated based on the entire chart history, "Today Only" (for day traders), or a specific number of bars.
Dual Mode Detection: Choose between **Auto Swing** detection (based on a user-defined pivot length) or **Manual** mode for specific levels.
Optimized Visuals: Uses the Pine Script Plot Engine for core levels to ensure price-scale stability and "Box Objects" for clear pivot visualization.
Settings
Swing Length: Adjust the sensitivity of the pivot detection.
BF Mode: Toggle between automatic pivot tracking or manual price entry.
Statistics Start Mode: Filter the data displayed in the table to focus on recent price action or historical performance.
UI Customization: Fully adjustable table position, size, and transparency.
Disclaimer
This indicator is for educational and research purposes only. It tracks historical price action patterns and does not constitute financial advice. Past performance (success rates) as displayed in the dashboard is not an indicator of future results.
Overview
The Broadening Formation Reclaim Stats is a technical analysis tool designed to track and quantify "reclaim" price action within expanding market structures (Broadening Formations). It focuses on scenarios in which price breaches a prior Swing High or Swing Low and subsequently rotates back into the range, often signaling a potential reversal toward the opposite side of the formation.
This indicator is built for traders who study price action rotations, "The Strat" (Rev 2-2 / Failed 2-Down/Up), and liquidity sweeps.
How It Works
The script utilizes a state-machine logic to track price movements relative to high and low pivots:
1. Structure Identification: It identifies recent Pivot Highs and Lows (Auto-Swing mode) or allows users to input specific price levels (Manual mode).
2. The Breach: It identifies when price breaks above the established high or below the established low, "locking" the structure for a potential reclaim.
3. The Reclaim: A signal is generated when price moves back inside the range using specific price action triggers:
Rev 2-2: A reversal pattern where price reverses the direction of the previous candle.
Failed 2-Down/Up: Price makes a new wick extreme but closes back within the previous candle's range and below its opening price.
4. Targets: The script considers a reclaim "Successful" if price reaches the opposite side of the broadening formation (the opposing pivot).
Key Features
Backtesting Dashboard: A real-time table displaying the total number of reclaims, global success rates, and a breakdown of Bullish vs. Bearish performance.
Flexible Lookbacks: Statistics can be calculated based on the entire chart history, "Today Only" (for day traders), or a specific number of bars.
Dual Mode Detection: Choose between **Auto Swing** detection (based on a user-defined pivot length) or **Manual** mode for specific levels.
Optimized Visuals: Uses the Pine Script Plot Engine for core levels to ensure price-scale stability and "Box Objects" for clear pivot visualization.
Settings
Swing Length: Adjust the sensitivity of the pivot detection.
BF Mode: Toggle between automatic pivot tracking or manual price entry.
Statistics Start Mode: Filter the data displayed in the table to focus on recent price action or historical performance.
UI Customization: Fully adjustable table position, size, and transparency.
Disclaimer
This indicator is for educational and research purposes only. It tracks historical price action patterns and does not constitute financial advice. Past performance (success rates) as displayed in the dashboard is not an indicator of future results.
Release Notes
Version 1.1 Minor table adjustment to visually cue the user which mode (Swing or Manual) the user has chosen.Release Notes
Version 1.2 Gave the user color customization options.Release Notes
Version 1.3. I added a user defined choice for reclaim lookback to include the session open (6pm est), NY Open, Asia Open, London Open, NY 9:30am Open.Release Notes
Broadening Formation Reclaim Stats v1.5 – What's NewThis update focuses on giving the user more control over how levels are tracked and visualized.
Statistical Start Marker: A new visual line and label show exactly where the indicator starts counting reclaims for the stats table, making it easy to verify your win rate at a glance.
Future Line Extension: You can now choose to extend your Broadening Formation lines into the future by a specific number of bars, helping you anticipate reclaim zones before the price gets there.
Improved Visual Stability: All lines now use the "Box Object" method, ensuring they stay vertically locked to the price scale and don't float or move when you scroll the chart.
Prior Broadening Formations: The user can choose the number of previous broadening formations shown on the chart.
Release Notes
V1.6 minor update. Added the W/L tally on the Bull Success % Bear Success % section in the table.Release Notes
Version 1.7: Caught a bug in the table that I fixed and added a diamond shape to assist the user in visualizing the price level triggering the reclaim label.Release Notes
Version 2.0. I reworked the logic and removed some Strat gate filters that were too restrictive and labeling candles that just made no sense to me. This version properly marks the reclaim and if price continues to the opposing broadening formation pivot, then the user has the option to mark that break (a successful reclaim.). Minor other stylistic changes.Release Notes
Version 2.2. Small tweak. When the user chooses Last X Bars as an option, 100 bars for example, the table will now do the math work to tell the user what that represents in a more usable way. I hate unnecessary mental math while flipping through different time frames.Release Notes
Version 2.3. Just added alerts. No other changes.Release Notes
Version 2.4 Unfortunately, there was a small error in the code at higher time frames that I corrected. Please update. Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.