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SilverHawk Pattern + Trend ScannerSilverHawk Pattern + Trend Scanner This indicator scans for common candle patterns (Evening/Morning Star, Engulfing, Kicker) and displays adaptive trend channels (short/long) with strength metrics. Features: - Candle patterns with reversal/continuation % heuristic - Adaptive trend channels (best short/long length selected by Pearson R) - ADX trend power and channel alignment note Settings: - Show specific patterns: toggle visibility - Channel lengths: auto-selected based on best correlation - Alerts on pattern detection Best used on H1 to D1 timeframes in Forex or indices for pattern confirmation and trend analysis. Use with proper risk management and confirmation. Educational tool only. Not financial advice. Trading involves risk.
Pine Script® indicator
by SilverHawkSuite_
Harmonic Patterns [kingthies]Harmonic Patterns This indicator scans price swings for classic X-A-B-C-D harmonic patterns and plots the structure plus a PRZ (Potential Reversal Zone) to help you frame areas where reactions are statistically more likely. It supports both bullish and bearish setups and can trigger alerts when a new D pivot confirms a pattern. What it does Builds a pivot-based swing map (ZigZag-style) using a configurable Pivot Length . Evaluates the most recent 5 swing points (X, A, B, C, D) against harmonic ratio rules with a user-defined tolerance . Detects: Gartley, Bat, Butterfly, Crab, Deep Crab, Cypher, Shark (loose) . Draws the pattern legs (X-A-B-C-D), labels the detection with ratio readouts, and projects a PRZ using 3 target levels (derived from XA/BC logic per pattern). Offers two rendering modes: Best only : picks the closest match (lowest score) to reduce clutter. Show all : plots every valid match (uses filled PRZ boxes to keep object usage under control). PRZ (Potential Reversal Zone) PRZ is built from three target levels and expanded into a zone. Optional padding uses ATR (ATR multiplier) to widen/narrow the zone for volatility. Display modes: Off, Box, Lines, Both . Zones can be extended forward by a configurable number of bars to keep the area visible as price develops. How to use Start with Confirm only when D pivot forms enabled (recommended) to reduce false positives while patterns are still forming. Adjust Pivot Length based on timeframe: Lower values = more swings, more signals, more noise. Higher values = cleaner structures, fewer signals. Use Ratio Tolerance to control strictness: Lower tolerance = fewer, higher-confidence matches. Higher tolerance = more matches, potentially lower quality. Treat harmonics as context , not a standalone entry system: Look for confluence (HTF levels, structure, volume, momentum/RSI divergence, etc.). Use your own confirmation and risk plan (invalidations beyond PRZ / beyond D). Settings overview Swings (Pivot ZigZag) Pivot Length: pivot sensitivity. Use Wicks: uses High/Low; if off, uses Close. Max Stored Swings: limits stored pivots for performance/object control. Harmonic Detection Ratio Tolerance (%): allowed deviation around ideal ratios. Confirm only when D pivot forms: reduces repaint-like behavior. When multiple match: Best only vs Show all. Pattern Filters enable/disable each pattern type. PRZ PRZ Display: Off / Box / Lines / Both. PRZ Padding (ATR multiplier): volatility-adjusted zone padding. PRZ Extend (bars): how far to project the zone. Visuals Draw Legs: draws X-A-B-C-D. Show Pattern Label: prints pattern name, direction, ratios, and score. Label Offset: shift label forward if you want more space. Alerts “Bullish/Bearish Harmonic (Any)” triggers on any detected pattern. Per-pattern alerts are included for each supported pattern type. Notes This indicator is educational and intended to assist with pattern recognition and confluence mapping. Harmonic patterns do not guarantee reversals—always manage risk and confirm with your own process.
Pine Script® indicator
by kingthies
1
Complete Harmonic PatternOverview: The ultimate harmonic XABCD pattern identification, prediction, and backtesting system. Harmonic patterns are among the most accurate of trading signals, yet they're widely underutilized because they can be difficult to spot and tedious to validate. If you've ever come across a pattern and struggled with questions like "are these retracement ratios close enough to the harmonic ratios?" or "what are the Potential Reversal levels and are they confluent with point D?", then this tool is your new best friend. Or, if you've never traded harmonic patterns before, maybe it's time to start. Put away your drawing tools and calculators, relax, and let this indicator do the heavy lifting for you. - Identification - An exhaustive search across multiple pivot lengths ensures that even the sneakiest harmonic patterns are identified. Each pattern is evaluated and assigned a score, making it easy to differentiate weak patterns from strong ones. Tooltips under the pattern labels show a detailed breakdown of the pattern's score and retracement ratios (see the Scoring section below for details). - Prediction - After a pattern is identified, paths to potential targets are drawn, and Potential Reversal Zone (PRZ) levels are plotted based on the retracement ratios of the harmonic pattern. Targets are customizable by pattern type (e.g. you can specify one set of targets for a Gartley and another for a Bat, etc). - Backtesting - A table shows the results of all the patterns found in the chart. Change your target, stop-loss, and % error inputs and observe how it affects your success rate. //------------------------------------------------------ // Scoring //------------------------------------------------------ A percentage-based score is calculated from four components: (1) Retracement % Accuracy - this measures how closely the pattern's retracement ratios match the theoretical values (fibs) defined for a given harmonic pattern. You can change the "Allowed fib ratio error %" in Settings to be more or less inclusive. (2) PRZ Level Confluence - Potential Reversal Zone levels are projected from retracements of the XA and BC legs. The PRZ Level Confluence component measures the closeness of the closest XA and BC retracement levels, relative to the total height of the PRZ. (3) Point D / PRZ Confluence - this measures the closeness of point D to either of the closest two PRZ levels (identified in the PRZ Level Confluence component above), relative to the total height of the PRZ. In theory, the closer together these levels are, the higher the probability of a reversal. (4) Leg Length Symmetry - this measures the ΔX symmetry of each leg. You can change the "Allowed leg length asymmetry %" in settings to be more or less inclusive. So, a score of 100% would mean that (1) all leg retracements match the theoretical fib ratios exactly (to 16 decimal places), (2) the closest XA and BC PRZ levels are exactly the same, (3) point D is exactly at the confluent PRZ level, and (4) all legs are exactly the same number of bars. While this is theoretically possible, you have better odds of getting struck by lightning twice on a sunny day. Calculation weights of all four components can be changed in Settings. //------------------------------------------------------ // Targets //------------------------------------------------------ A hard-coded set of targets are available to choose from, and can be applied to each pattern type individually: (1) .618 XA = .618 retracement of leg XA, measured from point D (2) 1.272 XA = 1.272 retracement of leg XA, measured from point D (3) 1.618 XA = 1.618 retracement of leg XA, measured from point D (4) .618 CD = .618 retracement of leg CD, measured from point D (5) 1.272 CD = 1.272 retracement of leg CD, measured from point D (6) 1.618 CD = 1.618 retracement of leg CD, measured from point D (7) A = point A (8) B = point B (9) C = point C
Pine Script® indicator
by Vmaster369
2
3-1-3 PatternThis Pine Script indicator analyzes and visualizes a specific candlestick pattern called the "3-1-3 Pattern" across multiple timeframes. Here's what it does: Core Functionality Pattern Detection: The script looks for a 7-bar candlestick pattern: Bearish 3-1-3: 3 red candles + 1 green candle + 3 red candles Bullish 3-1-3: 3 green candles + 1 red candle + 3 green candles Visual Output When a 3-1-3 pattern is detected, the script: Creates a colored box around the middle bar (bar 3) of the pattern Adds a small label showing the pattern type ("Bear 1H" or "Bull 4H", etc.) Extends the box forward until the price breaks above the pattern's high or below its low Pattern Management The script actively manages the patterns by: Tracking active patterns for each timeframe separately Removing expired patterns when price breaks the pattern's high/low levels Extending boxes to the current time to keep them visible Practical Use This indicator helps traders: Spot reversal patterns across multiple timeframes simultaneously See confluence when patterns align on different timeframes Track pattern validity (boxes disappear when invalidated by price action) Essentially, it's a multi-timeframe pattern recognition tool that automatically identifies and tracks these specific 7-bar reversal patterns on your chart.
Pine Script® indicator
by pleiva1997
IU Inside/Harami candlestick patternDESCRIPTION The IU Inside/Harami Candlestick Pattern indicator is designed to detect bullish and bearish inside bar formations, also known as Harami patterns. This tool gives users flexibility by allowing pattern detection based on candle wicks, bodies, or a combination of both. It highlights detected patterns using colored boxes and optional text labels on the chart, helping traders quickly identify areas of consolidation and potential reversals. USER INPUTS : Pattern Recognition Based on = Choose between "Wicks", "Body", or "Both" to determine how the inside candle pattern is identified. Show Box = Toggle the appearance of colored boxes that highlight the pattern zone. Show Text = Toggle on-screen labels for "Bullish Inside" or "Bearish Inside" when patterns are detected. INDICATOR LOGIC : Bullish Inside Bar (Harami) is detected when: * The current candle's high is lower and low is higher than the previous candle (wick-based), * or the current candle’s open and close are inside the previous candle’s body (body-based), * and the current candle is bullish while the previous is bearish. Bearish Inside Bar (Harami) is detected when: * The current candle's high is lower and low is higher than the previous candle (wick-based), * or the current candle’s open and close are inside the previous candle’s body (body-based), * and the current candle is bearish while the previous is bullish. The user can choose wick-based, body-based, or both logics for pattern confirmation. Boxes are drawn between the highs and lows of the pattern, and alert messages are generated upon confirmation. Optional labels show the pattern name for quick visual identification. WHY IT IS UNIQUE : Offers three different logic modes: wick-based, body-based, or combined. Highlights patterns visually with customizable boxes and labels. Includes built-in alerts for immediate notifications. Uses clean and transparent plotting without repainting. HOW USER CAN BENEFIT FROM IT : Receive real-time alerts when Inside/Harami patterns are formed. Use the boxes and text labels to spot price compression zones and breakout potential. Combine it with other tools like trendlines or support/resistance for enhanced accuracy. Suitable for scalpers, swing traders, and price action traders looking to trade inside bar breakouts or reversals. DISCLAIMER : This indicator is not financial advice, it's for educational purposes only highlighting the power of coding( pine script) in TradingView, I am not a SEBI-registered advisor. Trading and investing involve risk, and you should consult with a qualified financial advisor before making any trading decisions. I do not guarantee profits or take responsibility for any losses you may incur.
Pine Script® indicator
by Shivam_Mandrai
NR4 & NR7 with Breakouts [LuxAlgo]NR4 & NR7 with Breakouts is a simple indicator that utilizes the NR4 and NR7 candle patterns to display candle ranges and signals from range breakouts. 🔶 USAGE The Narrow Range Patterns are candle formations determined by the last candle having a narrower (high-low) range than the previous number. This indicator showcases the 2 most recognized Narrow Range Patterns, which are the 4 and 7 bar variants (NR4 and NR7). These patterns, introduced by Toby Crabel, are thought to provide insight for potential market breakouts by identifying periods of low volatility indicated by a candle with a small range. This is due to the idea that markets often move from periods of low volatility (contraction) to high volatility (expansion), and the NR4 and NR7 patterns help spot these transitions. By utilizing these patterns, traders are better able to anticipate and respond to market shifts for better decision-making and risk management. NOTE: These patterns have traditionally been studied on the Daily Timeframe Chart. This indicator allows the user to select a timeframe to generate these patterns from. It is suggested to be mindful of this when considering these patterns. In this indicator, on the bar after the pattern is detected, the Narrow Range Bar will be highlighted with a zone, and lines displaying the range will extend from it. These ranges are helpful for providing levels to set limit orders and for managing risk. Users are able to adjust which pattern they want visualized on their chart, please note; All NR7s are NR4s but not all NR4s are NR7s. Because of this, you will notice that when selecting "NR4" to display, the colors will change, but the detected ranges will not change. 🔹 Signals When a Narrow Range Bar is detected, the script will wait for the price to close outside of the Range, then a signal will fire indicating the direction of exit. The signals are produced from the last NR4 or NR7 and will have the potential to fire from that range until a new NR4 or NR7 is detected. After a signal fires, the logic goes into a "reset" period where it will wait for the price to reach the Range Mean before firing another signal. These signals can be anticipated by considering the underlying logic and watching price approach the range extremities, and can be improved by utilizing other market information for confluence. 🔶 SETTINGS Timeframe: Choose which timeframe to identify the NR4 and NR7 Pattern on. This must be Higher than the chart timeframe. Pattern Type: Choose which (or all) patterns to display.
Pine Script® indicator
by LuxAlgo
16
Price Action: Engulfing PatternsBullish Engulfing Pattern Detection: A bullish engulfing pattern is identified when the previous candle is bearish (close < open ), the current candle is bullish (close > open), and the current candle's body engulfs the previous candle's body (close >= open and open <= close ). Bearish Engulfing Pattern Detection: A bearish engulfing pattern is identified when the previous candle is bullish (close > open ), the current candle is bearish (close < open), and the current candle's body engulfs the previous candle's body (open >= close and close <= open ). Plotting the Patterns: The plotshape function is used to mark the detected patterns on the chart. Bullish engulfing patterns are marked below the bar with a green upward label, while bearish engulfing patterns are marked above the bar with a red downward label.
Pine Script® indicator
by Jay9286
Hourly Market Movement Pattern Indicator# Hourly Market Movement Pattern Indicator This versatile technical analysis tool identifies the most active hours for trading by analyzing historical price movements. While it can be viewed on any timeframe chart, the indicator specifically tracks and displays which hours of the day historically show the strongest upward or downward price movements, helping traders optimize their trading schedule around these recurring hourly patterns. ## Core Features - Tracks the best performing hours for both upward and downward movements - Viewable on any timeframe chart while maintaining hourly analysis - Clear visual display through a color-coded table overlay - Real-time updates with new market data - Works with all trading instruments (stocks, crypto, forex, futures, etc.) ## Timeframe Applications ### Chart Viewing Options - Can be viewed on any timeframe chart (1min to Monthly) - Maintains hourly pattern analysis regardless of chart timeframe - Helps correlate hourly patterns with your preferred trading timeframe - Allows detailed visualization of hourly patterns within your analysis period ### Intraday Trading - Identify the most profitable hours for trading - Plan trading sessions around historically strong hours - Optimize entry and exit timing based on hourly patterns - Structure day trading schedules around peak movement hours ### Swing Trading - Use hourly statistics to optimize entry/exit timing - Plan trade executions during historically strong hours - Time position entries based on hourly success rates - Enhance swing trading decisions with hourly pattern data ## Practical Applications ### Pattern Recognition - Track recurring hourly market movements - Identify institutional trading hour patterns - Detect regular market cycle hours - Recognize changes in hourly market behavior ### Risk Management - Adjust position sizing based on historical hourly patterns - Plan entries during statistically favorable hours - Time stop loss adjustments around known volatile hours - Scale positions according to hourly success rates ### Trade Planning - Schedule trading sessions during optimal hours - Plan trade executions around strong movement periods - Structure trading day around peak hours - Time position adjustments to favorable hours ## Setup Options - Timeframe: View on any chart timeframe while tracking hourly patterns - Visual Display: Non-intrusive table overlay - Color Coding: Green for upward movements, Red for downward movements - Hour Display: 24-hour format for global market compatibility ## Trading Strategy Integration The indicator enhances trading approaches through: - Optimal hour identification for trade execution - Historical hourly pattern analysis - Day trading session optimization - Position timing based on hourly statistics ## Notes This indicator proves particularly valuable for: - Traders seeking to optimize their daily trading schedule - Day traders focusing on peak market hours - Swing traders optimizing entry/exit timing - Traders adapting strategies to specific market hours - International traders tracking hour-specific patterns across sessions The tool's hourly pattern analysis provides crucial timing information regardless of your preferred chart timeframe or trading style, helping optimize trade execution around the most statistically favorable hours of the day.
Pine Script® indicator
by NautaTrades
Candlestick Patterns with SignalsIdentified Patterns: Bullish Engulfing: Indicates potential upward price movement, marked with green labels and lines. Bearish Engulfing: Suggests potential downward price movement, marked with red labels and lines. Hammer: A bullish reversal pattern, marked with blue labels. Shooting Star: A bearish reversal pattern, marked with orange labels. Signal Generation: Long Signal: Triggered when a Bullish Engulfing or Hammer pattern is detected. A dotted green line marks the entry level. Short Signal: Triggered when a Bearish Engulfing or Shooting Star pattern is detected. A dotted red line marks the entry level. Visual Elements: Labels indicating the candlestick pattern names appear at the relevant candles. Lines connect the previous and current candles for engulfing patterns to highlight their range. Dotted lines indicate potential entry levels for long or short trades.
Pine Script® indicator
by Shubham_Trade_Club_
Swing Failure Pattern (SFP) [LuxAlgo]The Swing Failure Pattern indicator highlights Swing Failure Patterns (SFP) on the user chart, a pattern occurring during liquidity generation from significant market participants. A Confirmation level used to confirm a trend reversal is also included. Users can additionally filter out SFP based on a set Volume % Threshold . 🔶 USAGE Swing failure patterns occur when candle wicks exceed (above/below) a recent swing level but close back below/above it, and occur from more significant market participants engineering liquidity. This pattern can be indicative of a potential trend reversal. A label and an accentuated wick line highlight the SFP (both can be disabled). Using a higher "Swings" period will not return different SFP but will however potentially reduce their detection rate. 🔹 Confirmation Level The confirmation level is the highest point between the previous swing and SFP for a bullish SFP, and the lowest point for a bearish SFP. This level allows confirming a trend reversal after an SFP once the price breaks it. A small triangle will be displayed when the price closes beyond the confirmation level. A more reactive and contrarian approach could use the SFP as an entry point, and the confirmation level for taking (partial) profit, or stop loss. The example below shows a possible scenario: 🔹 Volume % Threshold During the occurrence of an SFP, the Volume % Threshold option allows comparing the cumulative volume outside the Swing level to the total volume of the candle. The following options are included: Volume outside swing < Threshold: Volume outside the Swing level needs to be lower than x % of total candle volume. Prevent excessive liquidity generation. Volume outside swing > Threshold: Volume outside the Swing level needs to be higher than x % of total candle volume. Requires more significant liquidity to be generated. None: No extra filter is applied Note that in the above case, the left SFP is no longer highlighted because the volume above the swing level was higher than the 25% threshold of the total volume. When we change the setting to "Volume outside swing > Threshold", we get the reversed situation. The "Volume outside Swing level" is obtained using intrabar - Lower TimeFrame (LTF) data. At the intrabar (LTF) level, there are a maximum of 100K bars available. When using the Volume % Threshold filter, a vertical line will highlight the maximum period during which intrabars are available. 🔶 DETAILS 🔹 LTF Settings When 'Auto' is enabled (Settings, LTF), the LTF will be the nearest possible x times smaller TF than the current TF. When 'Premium' is disabled, the minimum TF will always be 1 minute to ensure TradingView plans lower than Premium don't get an error. Examples with current Daily TF (when Premium is enabled): 500 : 3-minute LTF 1500 (default): 1-minute LTF 5000: 30 seconds LTF (1 minute if Premium is disabled) The concerning LTF can be seen at the right-top (default) corner. 🔶 SETTINGS Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels. Bullish SFP: enable/disable bullish Swing Failure Patterns. Bearish SFP: enable/disable bearish Swing Failure Patterns. 🔹 Volume Validation Validation: Volume outside swing < Threshold: The volume outside the swing level needs to be lower than x % of the total volume. Volume outside swing > Threshold: The volume outside the swing level needs to be higher than x % of the total volume. None: No extra validation is applied. Volume % Threshold: % of total volume as threshold. Auto + multiple: Adjusts the initial set LTF LTF: LTF setting Premium: Enable when your TradingView plan is Premium or higher 🔹 Dashboard Show Dashboard: Display applied Lower Timeframe (LTF) Location: Location of the dashboard Size: Size of the dashboard 🔹 Style Swing Lines Confirmation Lines Swing Failure Wick Swing Failure Label Lines / Labels: Color for lines and labels SFP Wicks: Color for SFP wick line
Pine Script® indicator
by LuxAlgo
48
Multi-Timeframe Recursive Zigzag [Trendoscope®]🎲 Welcome to the Advanced World of Zigzag Analysis Embark on a journey through the most comprehensive and feature-rich Zigzag implementation you’ll ever encounter. Our Multi-Timeframe Recursive Zigzag Indicator is not just another tool; it's a groundbreaking advancement in technical analysis. 🎯 Key Features Multi Time-Frame Support - One of the rare open-source Zigzag indicators with robust multi-timeframe capabilities, this feature sets our tool apart, enabling a broader and more dynamic market analysis. Innovative Recursive Zigzag Algorithm - At its core is our unique Recursive Zigzag Algorithm, a pioneering development that powers multiple Zigzag levels, offering an intricate view of market movements. This proprietary algorithm is the backbone of our advanced pattern recognition indicators. Sub-Waves and Micro-Waves Analysis - Dive deeper into market trends with our Sub-Waves and Micro-Waves feature. Sub-Waves reveal the interconnectedness of various Zigzag levels, while Micro-Waves offer insight into the fundamental waves at the base level. Enhanced Indicator Tracking - Integrate and track your custom indicators or oscillators with the zigzag, capturing their values at each Zigzag level, complete with retracement ratios. This offers a comprehensive view of market dynamics. Curved Zigzag Visualization - Experience a new way of visualizing market movements with our Curved Zigzag Display, employing Pine Script’s polyline feature for a more intuitive and visually appealing representation. Built-in Customizable Alerts - Stay ahead with built-in alerts that can be customized via user input settings. 🎯 Practical Applications Our Zigzag Indicator is designed with an understanding of its inherent nature - the last unconfirmed pivot that consistently repaints. This characteristic, while by design, directs its usage more towards pattern recognition rather than direct identification of market tops and bottoms. Here's how you can leverage the Zigzag Indicator: Harmonic Patterns - Ideal for those familiar with harmonic patterns, this tool simplifies the manual spotting of complex XABCD, ABC, and ABCD patterns on charts. Chart Patterns - Effortlessly identify patterns like Double/Triple Taps, Head and Shoulders, Inverse Head and Shoulders, and Cup and Handle patterns with enhanced clarity. Navigate through challenging patterns such as Triangles, Wedges, Flags, and Price Channels, where the Zigzag Indicator adds a layer of precision to your breakout strategy. Elliott Wave Components - The indicator's detailed pivot highlighting aids in identifying key Elliott Wave components, enhancing your wave analysis and decision-making process. 🎲 Deep Dive into Indicator Features Join us as we explore the intricate features of our indicator in more detail. 🎯 Multi-Timeframe Capability Our indicator comes equipped with an input option for selecting the desired resolution. This unique feature allows users to view higher timeframe Zigzag patterns directly on their lower timeframe charts. 🎯 Recursive Multi Level Zigzag Our advanced recursive approach creates multi-level Zigzags from lower-level data. For instance, the level 0 Zigzag forms the base, calculated from specified length and depth parameters, while level 1 Zigzag is derived using level 0 as its foundation, and so forth. The indicator not only displays multiple Zigzag levels but also offers settings to emphasize specific levels for more detailed analysis. 🎯 Sub-Components and Micro-Components of Zigzag Wave Sub-components within a Zigzag wave consist of the previous level's Zigzag pivots. Meanwhile, the micro-components are composed of the base level (Level 0) Zigzag pivots encapsulated within the wave. 🎯 Curved Zigzag Experience a new perspective with our curved Zigzag display. This innovative feature utilizes the polyline curved option to automatically generate sinusoidal waves based on multiple points. 🎯 Indicator Tracking Default indicators such as RSI, MFI, and OBV are included, alongside the ability to track one external indicator at each Zigzag pivot. 🎯 Customizable Alerts Our indicator employs the `alert()` function for alert creation. While this means the absence of a customization text box in the alert settings, we've included a custom text area for users to create their own alert templates. Template placeholders include: {alertType} - type of alert. Either Confirmed Pivot Update or Last Pivot Update. Depends on the alert type selected in the inputs. When Last Pivot Update type is selected, the alerts are triggered whenever there is a new Zigzag Pivot. This may also be a repaint of last unconfirmed pivot. When Confirmed Pivot Update type is selected, the alerts are triggered only when a pivot becomes a confirmed pivot. {level} - Zigzag level on which the alert is triggered. {pivot} - Details of the last pivot or confirmed pivot including price, ratio, indicator values and ratios, subcomponent and micro-component pivots. 🎲 User Settings Overview 🎯 Zigzag and Generic Settings This involves some generic zigzag calculation settings such as length, depth, and timeframe. And few display options such as theme, Highlight Level and Curved Zigzag. By default, zigzag calculation is done based on the latest real time bar. An option is provided to disable this and use only confirmed bars for the calculation. Indicator Settings Allows users to track one or more oscillators or volume indicators. Option to add any indicator via external input is provided. 🎯 Alert Settings Has input fields required to select and customize alerts.
Pine Script® indicator
by Trendoscope
23
Harmonic PatternsHarmonic Patterns Harmonic Pattern utilizes the recognition of specific structures that possess distinct and consecutive Fibonacci ratio alignments that quantify and validate harmonic patterns. These patterns calculate the Fibonacci aspects of these price structures to identify highly probable reversal points in the financial markets. This methodology assumes that harmonic patterns, like many patterns and cycles in life, continually repeat. Input Parameters: Zigzag Setup: These group of parameters are used to identify the swing points. The script also draws the Zigzag line and swing labels based on these parameters. Harmonic Pattern Setup: Ignore XD leg calculations – Optionally one can choose to ignore the XD leg calculation. Fixed value leg offset % - Fixed value leg parameters are such parameters where single value Fibonacci value is used. This makes pattern identification very rare. To overcome this one can input % value which would be used to derive the range of Fibonacci numbers for pattern identification. E.g. XD leg in Bat pattern has fixed leg of 88.6%, If we input 5% as fixed value leg offset % then instead of fixed value of 88.6%, script calculates range as 88.6% + 5% (Value 1) and 88.6% - 5% (Value 2) and uses the same for pattern identification. The script plots a diamond shape label on the last candle of the chart. The label has been enabled with a tooltip which shows number of patterns of each type along with the time where latest pattern is located. This script covers harmonic patterns listed in the table below. Each harmonic pattern has bullish and bearish variants. All these patterns have 4 legs known as XABCD. The Patterns have been configured as specified in the table below. Refer to Figure 1 and Figure 2 to understand how to read and interpret the table. Figure 1 Figure 2
Pine Script® indicator
by Sharad_Gaikwad
11
Pro Trading Art - Candlestick Patterns with alertAll candlestick pattern based on "Japanese candlestick charting techniques". Currently Supported List of Candlestick Patterns : Hammer Hanging Man Inverted Hammer Shooting Star Morning Star Evening Star Bullish Engulfing Bearish Engulfing Important Points: 1. You can create alert for all patterns. 2. You can modify multiplier(Length Of Shadow) for Hammer, Hanging Man, Inverted Hammer and Shooting Star 3. You can modify EMA length for upward and downward validation of any pattern.
Pine Script® indicator
by protradingart
7
Candlestick Patterns by Dipak V2I am really excited to publish my work, I know its at the beginning but there is a lot to come in the future. I am writing a script to identify the candlestick patterns. In this version, I have added Hammer and Hanging Man Pattern in the first version, I know its less but its a beginning, I will keep adding the new information in my script in upcoming versions. This script is for only learning purpose and not for treading realtime. In this script, it only identifies the pattern and does not check for its confirmation or does not provide any stop-loss, Also it does not check the prior trend before the pattern. These things really matter in the live trade. But in future, I am planning to add these things. If you like my work, please like or comment your ideas I will try to include those in upcoming versions. Hanging Man: Hanging man is a bearish reversal candlestick pattern that signals about the uptrend or advancing phase are over and bulls have lost their control. Color of the candle is not important. Identity: 1) Comes after a significant up rally or uptrend or advancing phase. 2) Small real body at the top. 3) Long lower shadow at least twice the real body. 4) Very small or no upper shadow. Confirmation: Immediate next candle’s close should be below the hanging man’s real body. StopLoss: There is a potential resistance level above the top of the hanging man. Stoploss should be above the resistance area or at the high of the hanging man. Hammer: Hammer is a bullish reversal candlestick pattern that signals about the downtrend or declining phase are over and bears have lost their control. Color of the candle is not important. Identity: 1) Comes after significant down rally or downtrend or declining phase. 2) Small real body at the top. 3) Long lower shadow at least twice the real body. 4) Very small or no upper shadow. Confirmation: Immediate next candle’s close should be above the hammer’s low. StopLoss: There is a potential support level below the low of the hammer. Stoploss should be below the support area or at the low of the hammer. Note: The candle is the same for Hanging Man and Hammer , Difference is where they appear in the uptrend or in the downtrend that makes the real difference.
Pine Script® indicator
by Dipak_Patil_
20
Custom Date MarkersCustom Date Markers - Pine Script Indicator This indicator provides a powerful visual tool for technical and pattern analysis by allowing traders to mark up to 10 specific historical dates with customizable vertical lines on any chart. Each date can be assigned its own unique color, making it easy to categorize and distinguish between different types of events or market catalysts. Primary Use Cases: The indicator excels at identifying cyclical patterns and recurring market behavior. By marking significant dates such as earnings announcements, Federal Reserve meetings, dividend ex-dates, or seasonal events, traders can quickly visualize whether stocks consistently react in similar ways around these recurring dates. This is particularly valuable for discovering hidden patterns that might not be obvious from price action alone. Practical Applications: Earnings Analysis: Mark historical earnings dates to see if a stock tends to rally or sell-off before/after announcements Macro Events: Identify how assets respond to FOMC meetings, CPI releases, or other economic data Seasonal Patterns: Track dates that show recurring volatility or directional moves (like tax deadline periods, end-of-quarter re balancing, etc.) Event Studies: Analyze the impact of company-specific events like product launches, FDA approvals, or leadership changes Advanced Insights: What makes this tool particularly interesting is its ability to reveal non-obvious correlations. For example, you might discover that a retail stock consistently experiences volume spikes 2-3 weeks before Black Friday across multiple years, or that certain tech stocks show weakness during specific conference dates. The color-coding feature allows you to layer multiple event types simultaneously—perhaps using red for bearish catalysts and green for bullish ones—creating a visual heat map of historical market reactions. The indicator's 6-month default spacing (covering 4.5 years) is strategically designed to capture multiple business cycles while maintaining clarity on the chart. This timeframe is long enough to identify genuine patterns rather than coincidences, yet focused enough to remain relevant to current market conditions. Pro Tip: Combine this indicator with volume analysis or other technical indicators to validate whether the patterns you observe are accompanied by meaningful market participation or if they're statistical noise.
Pine Script® indicator
by parkerberlinger
Phoenix Pattern Scanner v1.3.2 - Multi-Pattern, Score & PresetsAdvanced multi-pattern scanner with intelligent presets and heuristic scoring system. 🎯 KEY FEATURES - 5 Trading Style Presets: Conservative, Balanced, Aggressive, Swing, Scalp - 4 Core Patterns: RVOL (unusual volume), Momentum breakout, RSI bounce, Gap & Go - Heuristic Score (0-100): Visual ranking system for signal quality - Per-Pattern Anti-Noise: Prevents signal spam with configurable minimum distance - Relative Strength %: Compare performance vs benchmark (default SPY) - Squeeze Detection: Identifies low volatility compression (BB inside Keltner) 📊 SMART FILTERS - Minimum price and average dollar volume gates - Weekly trend confirmation (optional) - Separate lookback periods for each pattern - Configurable RSI length and Gap parameters ⚙️ CUSTOMIZATION - All parameters adjustable via settings - Toggle individual components on/off - Clean info panel with real-time metrics - Color-coded score visualization 📍 BEST USED ON - Daily timeframe (primary design) - Liquid stocks above $5 - As a screening tool alongside your analysis ⚠️ IMPORTANT NOTES - Educational/informational tool only - NOT financial advice or trade signals - Heuristic score is diagnostic, not predictive - Past pattern behavior ≠ future results 💡 QUICK START 1. Select a preset matching your style 2. Adjust filters for your market 3. Set alerts for patterns you want to track 4. Use score as relative ranking, not absolute signal Version 1.3.2 - Stable release Open source - Free to use and modify Feedback and improvements welcome
Pine Script® indicator
by GMak01
Candlestick Patterns Dashboard Pro+ [ULTIMATE]Unleash the power of automated candlestick analysis with the most comprehensive and customizable pattern detection tool on TradingView. This is not just another pattern scanner; it's a complete trading dashboard designed to identify, score, and confirm high-probability setups, saving you hours of manual chart analysis. Built with performance and reliability in mind, this script goes beyond simple detection by introducing a unique reliability score for every pattern, advanced confirmation filters, and a powerful on-screen dashboard to keep you informed. Key Features 📈 Comprehensive Pattern Detection: Automatically identifies 13 of the most effective candlestick patterns, including Bullish/Bearish Engulfing, Hammer, Shooting Star, Doji, Morning/Evening Star, and more. 🔟 Dynamic Reliability Scoring: Every pattern is assigned a score from 1-10 based on its confirmation strength. Factors include candle body size, volume confirmation, trend alignment, and higher-timeframe confluence, giving you a quantifiable measure of a pattern's potential. 📊 The Ultimate Dashboard: Your at-a-glance command center. The on-screen dashboard provides a complete summary of all active patterns, showing you exactly when they last occurred and highlighting the most recent signals. It also includes an "Overall Bias" meter for a quick sentiment check. 🛡️ Trade Smarter with Advanced Confirmation Filters: Eliminate low-quality signals and focus on what matters. Trend Alignment: Use SMA(50) and SMA(200) to only show patterns that agree with the dominant market trend. Volume Confirmation: Validate patterns by requiring a surge in volume. Non-Repainting HTF Confirmation: Ensure your patterns align with the trend on a higher timeframe (e.g., Daily trend for a 4H signal) using a reliable, non-repainting method. Market Condition Filter: Isolate patterns that occur only in "Trending" or "Ranging" markets. Time Filter: Restrict pattern detection to specific trading sessions. 🔧 ‘Fuzzy Logic’ for Real-World Trading: Textbook patterns are rare. Use the "Fuzzy Logic" settings to adjust the criteria for patterns like the Hammer, Piercing Line, and Doji, allowing you to catch imperfect but still valid real-world formations. ⚙️ Fully Customizable Scoring: You decide what's important! Adjust the bonus scores for volume, trend, and other factors to create a scoring system that perfectly aligns with your trading strategy. 🚨 Powerful & Customizable Alerts: Never miss an opportunity. Create alerts for any individual pattern. Get notified of "Pattern Clusters" when multiple bullish or bearish signals appear in close succession. Customize the alert messages to be compatible with your favorite trading automation services. 🚀 Performance Optimized: A "Max Bars Back" setting ensures the script runs smoothly and efficiently, even on lower-end devices or extensive historical data. How To Use This Indicator For Confirmation: The primary strength of this tool is for confirmation. Do not trade based on patterns alone. Use the detected signals to confirm your own analysis, such as a pattern appearing at a key support/resistance level, a trendline, or a Fibonacci retracement. A Bullish Engulfing pattern at a major support level is a much stronger signal than one appearing in the middle of a range. For Discovery: Use the Dashboard to quickly scan through your favorite assets. A dashboard full of recent bullish signals on one asset, and bearish on another, can instantly help you focus your attention for the day. Customizing for Your Style: Start with the Market Presets ("Forex," "Stocks," "Crypto") for a solid baseline. Dive into the Scoring Weights to tell the indicator what you value most. A pure volume trader might increase the Volume Bonus score. Adjust the Fuzzy Logic settings based on your market's volatility. A volatile crypto market might require a more lenient Doji definition than a stable blue-chip stock. Setting Up Alerts: Add the indicator to your chart. Click the "Alert" button in the TradingView toolbar. Set the "Condition" to "Candlestick Patterns Dashboard Pro+ ". Choose the specific alert you want from the dropdown (e.g., "Bullish Pattern Detected," "Bearish Pattern Cluster"). Customize the message if needed and click "Create." A Note of Thanks This script began as a personal project and has evolved into this ultimate version thanks to invaluable community feedback, bug reports, and suggestions. A special thank you to the users who helped identify and fix critical bugs related to syntax and variable scope. This collaborative effort has made the indicator more robust and reliable for everyone. Disclaimer: This tool is for educational and analytical purposes only. All trading involves substantial risk. Past performance is not indicative of future results. Please trade responsibly.
Pine Script® indicator
by IndicatorEdge
Candlestick Pattern Indicator – Doji, Harami, More [algo_aakash]This Candlestick Pattern Indicator is designed to help traders identify key price action patterns like Bullish Engulfing, Bearish Engulfing, Doji, Hammer, Morning Star, Evening Star, and many more directly on your TradingView chart. With customizable options to display both bullish and bearish patterns , this indicator provides real-time visual markers and labels, helping you make informed trading decisions. Key features of the indicator include: Detects popular candlestick patterns such as Bullish Engulfing, Bearish Engulfing, Hammer, Morning Star, Tweezer Tops, and more. Customizable settings for displaying pattern shapes, labels, and opacity, tailored to your trading preferences. Option to plot signals only after a candle closes, ensuring accuracy. Alerts for immediate notification of detected patterns. Visual markers on the chart, including arrows and labels, for quick recognition of potential trade setups. This indicator is ideal for traders who rely on candlestick patterns for technical analysis and want an automated tool to highlight these setups for easier decision-making. Whether you're a beginner or an experienced trader, this tool will help you spot important patterns in real-time without cluttering your chart.
Pine Script® indicator
by algo_aakash
2
H4 3-Candle Pattern (Persistent Signals)Below is an example in Pine Script v5 that detects a pattern using the last three completed 4H candles and then plots a permanent arrow on the fourth candle (i.e. on the current bar) when the conditions are met. The arrow stays on that bar even after new bars form. In this version, the pattern is evaluated as follows on each bar (when there are enough candles): Bullish Pattern: The candle three bars ago (oldest of the three) is bullish (its close is greater than its open). The candle two bars ago closes above the high of that older candle. The last completed candle (one bar ago) closes at or above the low of the candle two bars ago. Bearish Pattern: The candle three bars ago is bearish (its close is less than its open). The candle two bars ago closes below the low of that older candle. The last completed candle closes at or below the high of the candle two bars ago. When the conditions are met the script draws a green up arrow below the current (fourth) candle for a bullish pattern and a red down arrow above the current candle for a bearish pattern. These arrows are drawn as regular plot symbols and remain on the chart permanently. Copy and paste the code into TradingView’s Pine Script Editor:
Pine Script® indicator
by xan5h33
CLS Patterns + Price Action Levels📌 Key Features: ✅ CLS Candle Patterns Detection: CLS Type 1 (Sweeps & Closes Opposite) – Confirms liquidity sweeps with opposite direction close. CLS Type 2 (Sweeps but No Opposite Close) – Identifies liquidity traps without full reversal. CLS Type 3 (Engulfing Candles) – Strong momentum shifts with engulfing price action. CLS Type 4 (Order Block Reversals) – Institutional order flow recognition. ✅ Institutional & Price Action Levels: 250 Pip Institutional Levels – Major S&R zones for Forex & Indices. Minor Quarter Points (25 Pips) – Intraday precision for refined entries. ✅ Liquidity Imbalance & Order Flow Gaps: Detects early impulse moves & liquidity voids Highlights areas of market inefficiency & potential reversals ✅ Higher Timeframe EMA for Trend Confirmation: Customizable Weekly 3 EMA Overlay Dynamic color change based on price action ✅ Built-in Alerts for CLS Patterns: Real-time alerts for CLS buy/sell signals Configurable notifications for trade execution 🎯 How to Use: 1️⃣ Enable CLS Pattern Signals to spot liquidity sweep candles with directional confirmation. 2️⃣ Use Institutional & QP Levels to identify key areas where price is likely to react. 3️⃣ Monitor Liquidity Imbalances to detect inefficient price moves that may fill. 4️⃣ Confirm Trend with HTF EMA to trade with momentum. 5️⃣ Set Alerts for CLS patterns and key price levels to stay ahead of the market. This indicator is ideal for Forex, Indices, and Crypto traders looking to refine their entries with precise price action confirmations.
Pine Script® indicator
by ForexFreeClub
3
Dragon Harmonic Pattern [TradingFinder] Dragon Detector🔵 Introduction The Dragon Harmonic Pattern is one of the technical analysis tools that assists traders in identifying Potential Reversal Zones (PRZ). Resembling an "M" or "W" shape, this pattern is recognized in financial markets as a method for predicting bullish and bearish trends. By leveraging precise Fibonacci ratios and measuring price movements, traders can use this pattern to forecast market trends with high accuracy. The Dragon Harmonic Pattern is built on the XABCD structure, where each point plays a significant role in shaping and forecasting price movements. Point X marks the beginning of the trend, representing the initial price movement. Point A indicates the first retracement, usually falling within the 0.380 to 0.620 range of the XA wave. Next, point B signals the second retracement, which lies within 0.200 to 0.400 of the AB wave. Point C, acting as the hump of the pattern, is generally located within 0.800 to 1.100 of the XA wave. Finally, point D represents the endpoint of the pattern and the Potential Reversal Zone (PRZ), where the primary price reversal occurs. In bullish scenarios, the Dragon Pattern indicates a reversal from a downtrend to an uptrend, where prices move upward from point D. Conversely, in bearish scenarios, prices decline after reaching point D. Accurate identification of this pattern through Fibonacci ratio analysis and PRZ examination can significantly increase the success rate of trades, enabling traders to adjust their strategies based on key market levels such as 0.618 or 1.100. Due to its high accuracy in identifying Potential Reversal Zones (PRZ) and its alignment with Fibonacci ratios, the Dragon Harmonic Pattern is considered one of the most popular tools in technical analysis. Traders can use this pattern to pinpoint entry and exit points with greater confidence while minimizing trading risks. Bullish : Bearish : 🔵 How to Use The Dragon Harmonic Pattern indicator helps traders identify bullish and bearish patterns in the market, allowing them to capitalize on available trading opportunities. By analyzing Fibonacci ratios and the XABCD structure, the indicator highlights Potential Reversal Zones (PRZ). 🟣 Bullish Dragon Pattern In the Bullish Dragon Pattern, the price transitions from a downtrend to an uptrend after reaching point D. At this stage, points X, A, B, C, and D must be carefully identified. Fibonacci ratios for these points are as follows: Point A should fall within 0.380 to 0.620 of the XA wave, point B within 0.200 to 0.400 of the AB wave, and point C within 0.800 to 1.100 of the XA wave. When the price reaches point D, traders should look for bullish signals such as reversal candlesticks or increased trading volume to enter a buy position. The take-profit level can be set near the previous price high or based on the 1.272 Fibonacci ratio of the XA wave, while the stop-loss should be placed slightly below point D. 🟣 Bearish Dragon Pattern In the Bearish Dragon Pattern, the price shifts from an uptrend to a downtrend after reaching point D. In this pattern, points X, A, B, C, and D must also be identified. Fibonacci ratios for these points are as follows: Point A should fall within 0.380 to 0.620 of the XA wave, point B within 0.200 to 0.400 of the AB wave, and point C within 0.800 to 1.100 of the XA wave. Upon reaching point D, bearish signals such as reversal candlesticks or decreasing trading volume indicate the opportunity to enter a sell position. The take-profit level can be set near the previous price low or based on the 1.272 Fibonacci ratio of the XA wave, while the stop-loss should be placed slightly above point D. By combining the Dragon Harmonic Pattern indicator with precise Fibonacci ratio analysis, traders can identify key opportunities while minimizing risks and improving their decision-making in both bullish and bearish market conditions. 🔵 Setting 🟣 Logical Setting ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition. Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern. Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk. Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period. 🟣 Genaral Setting Show : Enter "On" to display the template and "Off" to not display the template. Color : Enter the desired color to draw the pattern in this parameter. LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness. LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries. 🟣 Alert Setting Alert : On / Off Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar". Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default. 🔵 Conclusion The Dragon Harmonic Pattern is an advanced and practical technical analysis tool that aids traders in accurately predicting bullish and bearish trends by identifying Potential Reversal Zones (PRZ) and utilizing Fibonacci ratios. Built on the XABCD structure, this pattern stands out for its flexibility and precision in identifying price movements, making it a valuable resource among technical analysts. One of its key advantages is its compatibility with other technical tools such as trendlines, support and resistance levels, and Fibonacci retracements. By using the Dragon Harmonic Pattern indicator, traders can accurately determine entry and exit points for their trades. The indicator analyzes key Fibonacci ratios—0.380 to 0.620, 0.200 to 0.400, and 0.800 to 1.100—to identify critical levels such as price highs and lows, offering precise trading strategies. In bullish scenarios, traders can profit from rising prices, while in bearish scenarios, they can capitalize on price declines. In conclusion, the Dragon Harmonic Pattern is a highly reliable tool for identifying trading opportunities with exceptional accuracy. However, for optimal results, it is recommended to combine this pattern with other analytical tools and thoroughly assess market conditions. By utilizing this indicator, traders can reduce their trading risks while achieving higher profitability and confidence in their trading strategies.
Pine Script® indicator
by TFlab
4
Weekly Bullish Pattern DetectorThis script is a TradingView Pine Script designed to detect a specific bullish candlestick pattern on the weekly chart. Below is a detailed breakdown of its components: 1. Purpose The script identifies a four-candle bullish pattern where: The first candle is a long green (bullish) candlestick. The second and third candles are small-bodied candles, signifying consolidation or indecision. The fourth candle is another long green (bullish) candlestick. When this pattern is detected, the script: Marks the chart with a visual label. Optionally triggers an alert to notify the trader. 2. Key Features Overlay on Chart: indicator("Weekly Bullish Pattern Detector", overlay=true) ensures the indicator draws directly on the price chart. Customizable Inputs: length (Body Size Threshold): Defines the minimum percentage of the total range that qualifies as a "long" candle body (default: 14%). smallCandleThreshold (Small Candle Body Threshold): Defines the maximum percentage of the total range that qualifies as a "small" candle body (default: 10%). Candlestick Property Calculations: bodySize: Measures the absolute size of the candle body (close - open). totalRange: Measures the total high-to-low range of the candle. bodyPercentage: Calculates the proportion of the body size relative to the total range ((bodySize / totalRange) * 100). isGreen and isRed: Identify bullish (green) or bearish (red) candles based on their open and close prices. Pattern Conditions: longGreenCandle: Checks if the candle is bullish (isGreen) and its body percentage exceeds the defined length threshold. smallCandle: Identifies small-bodied candles where the body percentage is below the smallCandleThreshold. consolidation: Confirms the second and third candles are both small-bodied (smallCandle and smallCandle ). Bullish Pattern Detection: bullishPattern: Detects the full four-candle sequence: The first candle (longGreenCandle ) is a long green candle. The second and third candles (consolidation) are small-bodied. The fourth candle (longGreenCandle) is another long green candle. Visualization: plotshape(bullishPattern): Draws a green label ("Pattern") below the price chart whenever the pattern is detected. Alert Notification: alertcondition(bullishPattern): Sends an alert with the message "Bullish Pattern Detected on Weekly Chart" whenever the pattern is found. 3. How It Works Evaluates Candle Properties: For each weekly candle, the script calculates its size, range, and body percentage. Identifies Each Component of the Pattern: Checks for a long green candle (first and fourth). Verifies the presence of two small-bodied candles (second and third). Detects and Marks the Pattern: Confirms the sequence and marks the chart with a label if the pattern is complete. Sends Alerts: Notifies the trader when the pattern is detected. 4. Use Cases This script is ideal for: Swing Traders: Spotting weekly patterns that indicate potential bullish continuations. Breakout Traders: Identifying consolidation zones followed by upward momentum. Pattern Recognition: Automatically detecting a commonly used bullish formation. 5. Key Considerations Timeframe: Works best on weekly charts. Customization: The thresholds for "long" and "small" candles can be adjusted to suit different markets or volatility levels. Limitations: It doesn't confirm the pattern's success; further analysis (e.g., volume, support/resistance levels) may be required for validation
Pine Script® indicator
by dylanhit20
E9 Shark-32 Pattern Strategy The E9 Shark-32 Pattern is a powerful trading tool designed to capitalize on the Shark-32 pattern—a specific Candlestick pattern. The Shark-32 Pattern: What Is It? The Shark-32 pattern is a technical formation that occurs when the following conditions are met: Higher Highs and Lower Lows: The low of two bars ago is lower than the previous bar, and the previous bar's low is lower than the current bar. At the same time, the high of two bars ago is higher than the previous bar, and the previous bar’s high is higher than the current bar. This unique setup forms the "Shark-32" pattern, which signals potential volume squeezes and trend changes in the market. How Does the Strategy Work? The E9 Shark-32 Pattern Strategy builds upon this pattern by defining clear entry and exit rules based on the pattern's confirmation. Here's a breakdown of how the strategy operates: 1. Identifying the Shark-32 Pattern When the Shark-32 pattern is confirmed, the strategy "locks" the high and low prices from the initial bar of the pattern. These locked prices serve as key levels for future trade entries and exits. 2. Entry Conditions The strategy waits for the price to cross the pattern's locked high or low, signaling potential market direction. Long Entry: A long trade is triggered when the closing price crosses above the locked pattern high (green line). Short Entry: A short trade is triggered when the closing price crosses below the locked pattern low (red line). The strategy ensures that only one trade is taken for each Shark-32 pattern, preventing overtrading and allowing traders to focus on high-probability setups. 3. Stop Loss and Take Profit Levels The strategy has built-in risk management through stop-loss and take-profit levels, which are visually represented by the lines on the chart: Stop Loss: Stop loss can be adjusted in settings. Take Profit: For long trades: The take-profit target is set at the upper white dotted line, which is projected above the pattern high. For short trades: The take-profit target is set at the lower white dotted line, which is projected below the pattern low. These clearly defined levels help traders to manage risk effectively while maximizing potential returns. 4. Visual Cues To make trading decisions even easier, the strategy provides helpful visual cues: Green Line (Pattern High): This line represents the high of the Shark-32 pattern and serves as a resistance level and short entry signal. Red Line (Pattern Low): This line represents the low of the Shark-32 pattern and serves as a support level and long entry signal. White Dotted Lines: These lines represent potential profit targets, projected both above and below the pattern. They help traders define where the market might go next. Additionally, the strategy highlights the pattern formation with color-coded bars and background shading to draw attention to the Shark-32 pattern when it is confirmed. This adds a layer of visual confirmation, making it easier to spot opportunities in real-time. 5. No Repeated Trades An important aspect of the strategy is that once a trade is taken (either long or short), no additional trades are executed until a new Shark-32 pattern is identified. This ensures that only valid and confirmed setups are acted upon.
Pine Script® strategy
by E9XBT