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PaveTheWaves

Flat Tops & Botttoms

PaveTheWaves Updated   
Candlestick Analysis
29
0
candlestick
The provided Pine Script code is an indicator script designed to identify and display flat tops and bottoms on a price chart.

Inputs:
  • showFlatTops (boolean): Determines whether to display flat tops.
  • showFlatBottoms (boolean): Determines whether to display flat bottoms.
  • enableAlerts (boolean): Enables or disables alerts for flat tops and bottoms.

Calculations:
  • Flat Top: if the current bar's high is equal to the open price. A downward-pointing triangle shape is plotted above the bar.
  • Flat Bottom: if the current bar's low is equal to the open price. An upward-pointing triangle shape is plotted above the bar.

Alerts:
Script allows to set alerts when flat tops or bottoms occur
Release Notes:
Add Margin of Error
Release Notes:
Fixed Default Margin of Error + Added back perfect Top/Bottom Detection
Open-source script

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.

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.

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