Continuing deeper and stronger with the screeners' educational series one more time.
This one is heavy crazy mega cool (pardon my french).
I - Concept
I present to you, ladies and gentlemen, the first screener for .
Starting with an ACBD pattern screener this time!!
I used the calculations from Ricardo Santo's script
In short, he's using fractals (regular or ) for the pattern calculations. A masterpiece !!!
The screener will show in 1 consolidated chart the patterns for 5 selected assets. Could be stocks, forex, crypto, whatever you feel like making money with
II - Definitions
The ( ) is one of the classic chart patterns which is repeated over and over again.
The shows perfect harmony between price and time.
More info here
The is an indicator, developed by , that aims to detect reversal points (highs and lows) and marks them with arrows.
Up fractals and down fractals have specific shapes. The indicator helps users determine in which direction price will develop
III - How did I set the screener
The visual signals are as follow:
- square: whenever there is an detected
Then the colors are:
- green when a is detected
- red when a is detected
🔸 The script screenshot shows two red squares matching two from the above panel. As the chart is showing APPL, I highlighted where the screener mentioned the fruit stock ( APPLE , pun, bad joke, Dave out...)
🔸 I tried to make it as clear as I could with red arrows
Once again, we pushed together the limits of pine script beyond of what we thought was possible, beyond the realm of this world, reaching finally the dreamt pine script heaven (am I going too far? feel free to tell me)
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.
2/ yes green = bullish and red = sellish
Repaint is not always bad by the way, it depends on the indicator - for some repainting isn't an issue.
The code needs to be updated (by you as it's open-source) and add more assets