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Advanced Candlestick Patterns [vitruvius]This is a very advanced indicator that detects most commonly used candlestick patterns. Please read this document carefully to understand how it works. It is tailored to identify patterns that only have a great possibility of signaling a price movement. In other words, it can and will ignore some patterns, even though they satisfy the recognition conditions defined in the books. Candlestick patterns should also satisfy some other conditions in this indicator to be valid and you can modify those conditions. This indicator is not only about identifying the candlestick patterns. By using the different choices, you can: Avoid fake signals Confirm patterns Increase your possibility to win a trade Reduce risk Identify bullish/bearish movements better Recommended Use This indicator works best when you: Use it in the daily time frame Combine it with Support/Resistance areas Note: For some candlestick patterns, you have the option of confirming the pattern with the next price action. In those cases, there will be obviously one bar delay (because it will wait for one more bar to close to confirm the pattern). However, it will mark the candlestick where it identifies the pattern and it will have ”Confirmed” in its text. Important Note This indicator does some serious calculations and checks for a lot of user inputs. Therefore, it might be a little slow. Please give it some time when it needs to do some computing. MODULES Trend Detection Most of the patterns in this script are trend reversal patterns. So, recognition of the candlestick patterns depends heavily on the trend. In fact, even if you do not select a trend detection method, it will use the SMA method as default where it needs a certain trend in identifying a specific pattern. It is possible to combine multiple trend detection methods. You can see how this affects the overall trend detection by enabling the background coloring. Note: There might be some cases where a candle has a bullish/bearish confirmation of the same candlestick pattern . In those cases, the script is unable to identify the move and the user should decide if the identified pattern is bullish or bearish. Below are the inputs of this module: Color the background according to the trend? If you select a trend detection method, it will color the background green for an uptrend and red for a downtrend . Counter the trend when there is no obvious trend? If you select multiple trend detection methods, there might be some cases where one of the methods indicates an uptrend and the other one indicates a downtrend . In that case, the script will continue with the previous trend (whatever the trend is one bar ago) by default . You can, however, reverse the trend in those cases by using this option. If you choose to reverse, you might catch the trend early . Use MACD to detect the trend? Use MACD to detect the trend. Whenever MACD delta is greater or equal to zero, it is an uptrend . MACD Fast Length Fast length of MACD. MACD Slow Length Slow length of MACD. MACD Signal Smoothing Signal smoothing value of MACD. Please note that it is set to 6 by default. Use SMA to detect the trend? Use SMA to detect the trend. If the price closes above the SMA line, it is an uptrend SMA Length Length of SMA. Use the average price of previous candles to detect the trend? If the average of open and close prices constantly go up for n bars that are determined by the next user input, it is an uptrend . Number of candles to analyze The number of bars ( n ) to analyze for the average price method. Use the closing price of the previous candle to detect the trend? If the difference between the current close and nth previous bar’s close is greater than the given threshold, it is an uptrend . Position of the previous candle to analyze Position of the bar (backward) to compare with the current close price. Threshold for the closing price The threshold value for closing price method. Basic Candlestick Patterns This module detects Doji, Spinning Top, Marubozu candlestick patterns. Also, you can set some specific options that are going to be used in all candlestick patterns. Note: If you choose to manually enter the body height of a doji , you need to find the optimal value for different timeframes. Different timeframes have difference price action ranges. Below are the inputs of this module: Tolerate opening/closing price of the candle? When a candlestick pattern needs to have a gap between two candles, you can tolerate the opening/closing prices of the one candle. This option is useful where the opening and closing prices are very close. This option is going to be used in all candlestick patterns. Factor for tolerating opening/closing price The more the factor is, the more the tolerance is. Body/Height ratio for a candle to be considered as Bullish/Bearish A bullish/bearish candle shouldn’t have too much shadow. You can use this option to determine the shadow length of a bullish/bearish bar. This option is going to be used in all candlestick patterns Use basic candlestick pattern (Doji, Spinning Top, Marubozu)? Detect doji, spinning top, marubozu candlestick patterns. Manually set body of Doji? You can manually set the body height of a doji. Otherwise, it will be calculated automatically. If you choose to use this option, then spinning top, and marubozu will also be calculated based on this. Body of Doji Body height of a bar to be considered as doji . Any bar with a body equal or less than the given value will be marked as doji. Only effective if you check the ”Manually set body of Doji?” option . Verify a Doji by looking at the preceding candle? If true, it will only mark dojis if the preceding candle is bullish or bearish. Single Candlestick Patterns This module detects Hammer, Hanging Man, Inverted Hammer, Shooting Star single candlestick patterns. Below are the inputs of this module: Confirm Single Candlestick Patterns with next closing price? You can confirm a single candlestick pattern with the next closing price. That is, if the next candle closes above the previous one, it will confirm a bullish movement. If the next candle closes below the previous one, it will confirm a bearish movement. Use Hammer and Hanging Man Single Candlestick Patterns? Detect hammer and h anging man single candlestick patterns. Use Inverted Hammer and Shooting Star Single Candlestick Patterns? Detect inverted hammer and s hooting star single candlestick patterns. Dual Candlestick Patterns This module detects Engulfing, Tweezer Bottoms, Tweezer Tops, Harami, Inside Bar, Piercing Line, Dark Cloud Cover dual candlestick patterns. Below are the inputs of this module: Use Engulfing Dual Candlestick Pattern? Detect engulfing dual candlestick pattern. Validate Engulfing by comparing highs and lows? If checked, the second bar must engulf the previous bar’s high/low also. If unchecked, the second bar should only engulf the real body of the first bar. Use Tweezer Bottoms and Tops Dual Candlestick Patterns? Detect tweezer bottoms and tweezer tops dual candlestick patterns. Check the shadow equality of Tweezer Bottom and Tops? Check if the shadows of the tweezer bars are about the same length. Detect Harami Dual Candlestick Pattern? Detect harami dual candlestick pattern. Use High/Low of the second Harami candle instead of Open/Close price? If checked, the body of the child must be within High and Low of the mother bar. Otherwise, only open/close prices will be checked. Detect Inside Bar Dual Candlestick Pattern? Detect inside bar dual candlestick pattern. Treat Inside Bar as a reversal pattern? If checked, inside bar will be treated as a bullish/bearish reversal pattern. Check if the Inside bar formed in the upper/lower half of the Mother bar? Check if the inside bar forms within the upper/lower body half of the mother. Then it will be treated as a bullish/bearish inside bar . Detect the Inside Bar only if the previous candle closes outside of the Keltner channel? This option effects identifying the inside bar . Such that, an inside bar will be detected only if the previous candle closes outside of Keltner Channel . Inside bars are effective when the market is extended and this is a nice way to check for that. Confirm Inside Bar with the next close breaching the low/high of the inside bar? Check if the next bar breaches inside bar’s high/low. Then it will be treated as a bullish/bearish inside bar . Use Piercing Line and Dark Cloud Cover Dual Candlestick Patterns? Detect Piercing Line and Dark Cloud Cover dual candlestick patterns. Triple Candlestick Patterns This module detects Morning Star , Evening Star, Three White Soldiers, Three Black Crows, Three Inside Up, Three Inside Down, Three Line Strike, Abandoned Baby, NR4, NR7 candlestick patterns. Below are the inputs of this module: Use Morning and Evening Star Triple Candlestick Pattern? Detect morning and evening star triple candlestick patterns. Don't allow the second candle's body to overlap with the first and third candle? If checked, high and low of the second candle cannot overlap with the first and third candle for morning and evening star candlestick patterns. The third candle must close beyond the midpoint of the first candle? If checked, the third candle must close beyond the midpoint of the first candle for morning and evening star candlestick patterns. Use Three White Soldiers and Three Black Crows Triple Candlestick Pattern? Detect three white soldiers and three black crows triple candlestick pattern. Compare bodies of Three White Soldiers and Three Black Crows candles? You also have the possibility of comparing bodies of the candles in a way that every consecutive candle must have a bigger body than the previous candle. Check if each candle (TWS&TBC) opens in the middle price range of the previous day? You can check if each candle of three white soldiers and three black crows opens in the middle price range of the previous day. Use Three Inside Up/Down Triple Candlestick Pattern? Detect three inside up and three inside down triple candlestick pattern. Check candles' bodies and closing prices for Three Inside Up/Down? There are two different definitions for three inside up/down candlestick patterns. This option allows you to select one of those definitions. That is; If unchecked , the second candle should make it up all the way to the midpoint of the first candle. Also, the third candle needs to close above the first candle’s high. If checked , the second candle opens and closes within the real body of the first candle. Also, the third candle needs to close above the first candle's high. Use Three Line Strike Candlestick Pattern? Detect three line strike triple candlestick pattern. Compare High/Lows instead of Open/Close for the Three Line Strike Pattern? If checked, it will compare high/lows instead of open/close prices for the three line strike pattern. Use Abandoned Baby Triple Candlestick Pattern? Detect abandoned baby triple candlestick pattern. If you choose to tolerate opening and closing prices, high and low prices will also be tolerated for abandoned baby. Use NR4 Candlestick Pattern? Detect NR4 candlestick pattern. Use NR7 Candlestick Pattern? Detect NR7 candlestick pattern. Confirm Narrow Range Candlestick Patterns with next closing price? You can confirm NR4 and NR7 candlestick patterns with the next closing price. That way they will be identified as bullish or bearish patterns. NOTES FROM THE AUTHOR Please do not hesitate to contact me if you have any questions. If you are not familiar with a specific candlestick pattern, try to google it. If you still need help, you can always contact me. If you find a bug, or you think the indicator does not work as intended, please contact me with a screenshot of the chart. Also, please mention how you set up the user inputs. If you have any ideas to further improve this indicator, please feel free to share it with me :) LIKE , if you like it. SHARE if you think it would be useful for others too. FOLLOW for future updates and new indicators.
Pine Script® indicator
by vitruvius
21
Inside Breakout - inside bar - PerQuantumCoin Premium IndicatorHOW IT WORKS: - The Inside Breakout gives signals on the chart on the breakout of inside bar chart pattern; - It allows to trade trend or counter-trend signals; - Computes intrinsic values to access the strength of the Buy/Sell signal; - Allows users to adjust their own settings, adapting the signals produced; - These signals can be also set up as Alerts; - The indicator has a few custom features that allows users to filter out signals using multi-timeframe trend indicator and to keep tracking positions so that one can only get new signals when they reserve position; This Script is meant to help traders easily identify great entry opportunities. The Script does NOT repaint signals.
Pine Script® indicator
by PerQuantumCoin
8
Multicross - golden/death cross indicator with inside barThis script utilizes five exponential moving averages, golden/death cross flags and inside bars. The EMAs are: 8,13,21,55 and 100. The cross flags appear when: 1st fastest crosses the 2nd fastest, 2nd fastest crosses the 3rd fastest and so on and so forth. Inside The script originated after I watched the youtube video with Philakone talking about swing trades. I started the the four EMAs he used and then decided to add the 100 to add a little more weight to the projected movements. I've noticed sometimes when inside bars and a golden crosses happen simultaneously the movements are more explosive.
Pine Script® indicator
by WildmanCryptoConsulting
6
Engulfing/Inside BarsVery basic script to help discretionary traders with their candlestick pattern analysis This script shows a colored arrow on top or below the candlestick indicating a bearish/bullish inside bar formation also shows text with "bull" or "bear" on top of the candle when a bullish or bearish engulfing pattern surges. big thanks to the pinescript reference manual & everyone that has open source codes bc i got stuck 50 bajillion times Cheers.
Pine Script® indicator
by rokettoinu
5
Elite By Ashu4750Inside Bar Detection: The script identifies inside bars, which are candles where the high is lower and the low is higher than the previous bar. It tracks the high and low of the mother candle (the candle preceding the inside bars) and plots the ranges on the chart using lines and labels. Exponential Moving Averages (EMA): Three EMAs are calculated and plotted (with default periods of 9, 21, and 50). This is a classic trend-following technique used to smooth price data and identify the direction of the market. Bollinger Bands (BB): The script includes a Bollinger Band calculation using the simple moving average (SMA) with a standard deviation multiplier. The bands help visualize volatility and potential overbought or oversold conditions. The user can configure settings like the length of the SMA and the multiplier for the upper and lower bands. Volume Weighted Average Price (VWAP): The VWAP is plotted on the chart and reset based on user-defined timeframes (e.g., session, week, month). VWAP is a popular indicator for institutional trading, as it shows the average price weighted by volume and can act as support or resistance. Crossover Signals (Buy/Sell): A combination of crossovers between VWAP, EMAs, and Bollinger Bands triggers buy and sell signals. Specifically: Buy signal is generated when VWAP crosses over the 9 EMA, the close crosses over the Bollinger Band line, and VWAP crosses over the Bollinger Band. Sell signal is triggered when VWAP crosses under the 9 EMA, and similar conditions exist for the other indicators. These signals are plotted with a green "Buy" or red "Sell" marker below the bars, and alerts are set up for both buying and selling. Additional Bollinger Band Configuration: The script provides more flexibility in Bollinger Bands by allowing the user to select between SMA, EMA, or SMMA for the moving average. The user can also choose the standard deviation multiplier and whether to display the bands. Alerts: Buy and sell conditions are linked to alert conditions, allowing the user to be notified when a signal is triggered, based on the defined crossover logic. Technical Breakdown: Inside Bar Logic: Tracks inside bars and plots lines representing the high and low of the mother candle. The line and label functions are used to draw these on the chart, which provides a visual representation of the range. EMA and VWAP Crossovers: The 9, 21, and 50-period EMAs are calculated and used in crossover logic with VWAP. Crossovers between VWAP and EMAs are a common method for identifying potential trend changes. Bollinger Bands: The Bollinger Band component allows for volatility analysis by calculating the upper and lower bands based on the moving average's standard deviation. Alert System: Alerts are set for crossover signals, allowing for real-time notifications of potential buy and sell opportunities. Visualization: The script plots the EMAs, VWAP, and Bollinger Bands on the price chart. It highlights inside bar patterns and displays buy/sell markers on the chart when the specified conditions are met. These visual cues make it easier to follow the market’s movements and spot trading opportunities. Customizability: The script is highly customizable with inputs for: EMA periods. VWAP settings. Bollinger Band parameters (moving average type, length, standard deviation). Candle color options for inside bars. In this traders looking for multiple indicators to analyze market trends, volatility, and price action.
Pine Script® indicator
by Ashu4750
1
Inside and Outside BarsInside Bar: An inside bar forms when the high and low range of a candlestick is within the high and low range of the previous candlestick. In other words, the current candlestick's high is lower than the previous candlestick's high, and the current candlestick's low is higher than the previous candlestick's low. Inside bars indicate a period of consolidation or indecision in the market. They often occur after a strong move in price and can signal a potential reversal or continuation of the trend, depending on the context. Outside Bar: An outside bar (or engulfing bar) forms when the high and low range of a candlestick completely engulfs the high and low range of the previous candlestick. In bullish outside bars, the current candlestick's high is higher than the previous candlestick's high, and the low is lower than the previous candlestick's low. In bearish outside bars, the current candlestick's high is lower than the previous candlestick's high, and the low is higher than the previous candlestick's low. Outside bars often indicate a significant shift in market sentiment. Bullish outside bars suggest increased bullish momentum, while bearish outside bars suggest increased bearish momentum.
Pine Script® indicator
by sach25aug
InsideBar2.0Inside Bar: Inside Bar is defined as, " when candle body range falls within previous day candle body". Some of us take the whole prices range . Here i have taken only the price range of the body of tehecandle. I have created an indicator to identify Inside bras and draw target levels on both the sides. Traders can easily convert it into a strategy and checkout the success rate. This script is written to identify InsideBar and then plot target 1 and target 2 irrespective the direction of following candles. Inside Bar is here defined clearly when the whole body( Not high/Low, but Open and Close Only of the candle falls within the whole body of previous candle Few static Variables are declared for one time use to store the following values MotherCandle Index High and Low of MotherCandle Target 1 equal to size of the body of mother candle Target 2 equal twice the size of Mother Candle Depending upon the direction of the trend and breakout of the MotherCandle boundaries, target lines and labels are drawn. Line.delete function is used to delete all the previous lines to keep the chart clean and not draw line on all every inside-bar detected in the past. Label.delete function is used to delete all the previous labels for Target levels to clearly show current target levels. barcolor() function is used to change the inside bar candle changed to "Yellow" .
Pine Script® indicator
by Dr_AtulGoswami
21