Here is an indicator that I designed that is my version of the pattern. If you like it add it to your chart and see if it works for you.
The white are there to indicate to you how it more or less works. The green/red line is when the patter has been formed. I struggle to make it an area. If you know how please let me know or do it yourself.
I do hope this can help people and also help you make the right trades.
Please know that Im not a programmer and do this as a hobby.(The programming part)
Thank you :D
Hope you all enjoy.
Please leave comments and like if you want.
Here is an example of what you can look for, but please do remember that this is still an indicator. It is not an every time trade option with a guarantee win trade. Technical analysis and everything else that goes with trading still applies. Doesnt matter which custom indicator you use.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
hahaha this was making me lose it as I was making a backtest of this... Looks switched xD
BTW, good idea is to seperate the head from the shoulders as the head is often "bigger" - ;)
Also, when looking for big head and shoulder which can be very good ones to look for, can help to have less right lookback on last pivot point to take the trade a bit faster. Backtesting with all points seperate