galenwoods

Galen Woods Price Patterns

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This indicator marks five price patterns. The underlying concept of each pattern is described below.

#1: Trend Bar Failure <TBF> - failure to follow-through with a short-term thrust

#2: Deceleration - weakening thrust

#3: Anti-Climax - climactic and exhaustive price thrust

#4: Congestion Zone - sideways action <shaded zones> including breakout failures <BOF>

#5: Pressure Zones - repeated buying or selling pressure <triangles>

You can toggle their display under Style.

Inputs

Calculate On Close is selected by default. If you unselect it, it will show tentative patterns that can be helpful for anticipating setups. However, the price patterns and zones are NOT confirmed unless it remains marked after the completion of the bar.

Pressure Zone Overlap Filter (in no. of ticks) affects the thickness of the pressure zones. Higher settings filter out thin pressure zones.

Get This Indicator

This indicator is available for purchase as part of Galen Woods' Day Trading With Price Action Course.
Release Notes: Updated to Pinescript v4 with improved visuals for Congestion Zones (limited to drawing the last 200 zones). Toggle for marking Congestion Zones now available under Inputs.
Release Notes: Update comments and author's instructions
Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact galenwoods for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.

Author's instructions

This indicator is available for purchase as part of Galen Woods' Day Trading With Price Action Course. Learn more at this URL - https://www.tradingsetupsreview.com/day-...

Want to use this script on a chart?

Warning: please read before requesting access.

Comments

How do I get access to your indicators?
+3 Reply
galenwoods JohnSailo
@JohnSailo, thank you for your interest. These indicators are part of a trading course. You can refer to the indicator details for more information.
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I want to use this indicator. Please provide access to me.
+2 Reply
Hi your indicators look great, please add me.
+2 Reply
I have the previous version. Do I need to ask for a re-grant?
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galenwoods vchow932
@vchow932, you do not need to do that, the indicators always show the most updated version.
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vchow932 galenwoods
@galenwoods, Thanks!
Reply
vchow932 vchow932
@vchow932, OK, you need to reapply the indicator again to get the updated version.
+1 Reply
galenwoods vchow932
@vchow932, yup, that's correct, thank you for helping to clarify.
Reply