This script identifies chart patterns: Cup and Handle. At the same time, it identifies not only these classical patterns, but even a wider range of similar reverse figures.
It has many useful settings:
-- You can choose by which pivots you want to identify patterns - by the edges of wicks (tails, shadows), or by the edges of candle bodies.
-- You can set the minimum number of pivot points that the pattern must contain.
-- You can also set the minimum depth of the shapes. It is important for successful trading.
-- !!! Most importantly, I have added a very useful functionality for those who trade based on chart patterns. Unlike my previous scripts which only identified patterns, in this one I've added the functionality to filter out patterns that I think appear in the wrong places. It is the base level filter. It filters out many, but not all, patterns in inappropriate places. If you want to order the development of such functionality with great opportunities - please contact me.
-- In addition, you can set how "flat" relative to the horizon the identified patterns should be.
You can also customize your styles.
! All key settings are accompanied by detailed tooltips
It has many useful settings:
-- You can choose by which pivots you want to identify patterns - by the edges of wicks (tails, shadows), or by the edges of candle bodies.
-- You can set the minimum number of pivot points that the pattern must contain.
-- You can also set the minimum depth of the shapes. It is important for successful trading.
-- !!! Most importantly, I have added a very useful functionality for those who trade based on chart patterns. Unlike my previous scripts which only identified patterns, in this one I've added the functionality to filter out patterns that I think appear in the wrong places. It is the base level filter. It filters out many, but not all, patterns in inappropriate places. If you want to order the development of such functionality with great opportunities - please contact me.
-- In addition, you can set how "flat" relative to the horizon the identified patterns should be.
You can also customize your styles.
! All key settings are accompanied by detailed tooltips
Release Notes:
— Bug fixes and some minor improvements
Release Notes:
The ability to create alerts has been added at the request of a subscriber. You can now create the script alert using the "Create Alert" dialog box. Then you will be notified when this pattern or its inverted counterpart appears according to your alert settings.
