OPEN-SOURCE SCRIPT
Bullish Single Candle Patterns [Crypto Varthagam]
Description
- This indicator highlights three well-known single bullish candlestick signals:
Hammer – A small body with a long lower wick, often signaling potential reversal at the bottom of a downtrend.
Inverted Hammer – A small body with a long upper wick, showing potential reversal if followed by bullish confirmation.
Bullish Marubozu – A strong green candle with little to no shadows, representing clear buyer dominance.
How it works:
- The script measures candle body size relative to total range and wick size.
- It identifies patterns based on common candlestick rules (wick-to-body ratios and body position).
- Labels are plotted on the chart for easy recognition of these signals.
Unique aspects of this script:
-Clean, educational implementation focused only on three key single-candle bullish patterns.
- Uses precise mathematical ratios for consistent detection.
- Lightweight design that can be applied on any timeframe or asset.
Disclaimer:
This script is for educational purposes only. It does not provide financial advice. Always confirm signals with broader analysis, risk management, and additional tools before making trading decisions.
- This indicator highlights three well-known single bullish candlestick signals:
Hammer – A small body with a long lower wick, often signaling potential reversal at the bottom of a downtrend.
Inverted Hammer – A small body with a long upper wick, showing potential reversal if followed by bullish confirmation.
Bullish Marubozu – A strong green candle with little to no shadows, representing clear buyer dominance.
How it works:
- The script measures candle body size relative to total range and wick size.
- It identifies patterns based on common candlestick rules (wick-to-body ratios and body position).
- Labels are plotted on the chart for easy recognition of these signals.
Unique aspects of this script:
-Clean, educational implementation focused only on three key single-candle bullish patterns.
- Uses precise mathematical ratios for consistent detection.
- Lightweight design that can be applied on any timeframe or asset.
Disclaimer:
This script is for educational purposes only. It does not provide financial advice. Always confirm signals with broader analysis, risk management, and additional tools before making trading decisions.
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.