Automatic Wedge & Channel Detector
Automatic Wedge & Channel Detector identifies developing price structures directly on the chart, helping traders recognize where price is compressing, expanding, or moving within established boundaries.
Instead of requiring trendlines to be drawn manually, the indicator analyzes confirmed pivot highs and lows, tests multiple boundary combinations, and selects the structure that best fits recent price action. It can detect parallel channels, converging wedges, symmetrical triangles, ascending or descending triangle-style formations, and expanding structures.
The goal is not simply to draw two lines. The indicator evaluates how well price respects both boundaries by considering touches, spacing, violations, structural width, balance between the upper and lower sides, and the age of the pattern. This helps reduce arbitrary trendlines and prioritize structures that are better supported by actual price behavior.
KEY FEATURES
Automatic Structure Detection
Auto Mode searches recent confirmed pivots and selects the highest-scoring upper and lower boundary combination.
Manual Structure Selection
Manual Mode allows advanced users to choose which historical pivots anchor each boundary.
Multiple Pattern Types
Recognizes parallel channels, converging wedges, symmetrical triangles, ascending and descending triangle/wedge structures, and expanding formations.
Dynamic Support and Resistance Zones
Optional shaded regions highlight the areas near each boundary where price may be more likely to react.
Middle No-Trade Zone
An optional neutral zone identifies the center of the structure, where entries may offer less favorable positioning compared with trades near the boundaries.
Centerline
The midpoint of the structure can be displayed as an additional reference for equilibrium, potential reactions, and profit management.
Confirmed Breakout Detection
A breakout is recognized only after price closes beyond the structure by a configurable ATR-based distance for the required number of confirmation bars. This helps filter minor boundary breaches and wick-only moves.
Breakout Alerts
Alerts are available for confirmed upside and downside structural breaks.
Breakout and Reclaim Logic
If price returns inside the structure for the required number of bars, the previous breakout is treated as reclaimed.
Structure Lifecycle Management
The indicator tracks whether a formation is active, approaching its apex, broken, reclaimed, or expired. Broken structures can remain visible temporarily so traders can review the breakout and watch for possible retests.
Late-Stage Recognition
Converging formations change color when price approaches the apex or when the remaining width becomes unusually narrow. This warns that the structure may be mature and increasingly vulnerable to a breakout.
Volatility-Adjusted Analysis
Touch tolerance, boundary violations, minimum width, breakout distance, and late-stage conditions are measured relative to ATR so the logic can adapt across markets and timeframes.
HOW TO USE IT
For range or mean-reversion setups, traders can watch for reactions near the lower support zone or upper resistance zone while the structure remains active. The center of the formation is marked as a potential no-trade area because entries taken there often have less room to the next boundary and weaker risk-to-reward characteristics.
For breakout setups, traders can wait for a confirmed close beyond a boundary rather than reacting to the first wick through the line. A broken boundary may later become an area of support or resistance during a retest.
Converging wedges and triangles can also be used to identify volatility compression. As the boundaries narrow and price approaches the apex, traders can prepare for expansion without assuming the breakout direction in advance.
AUTO MODE VS. MANUAL MODE
Auto Mode is designed for traders who want the indicator to continuously identify the strongest recent structure.
Manual Mode is intended for traders who prefer greater control over which pivots define the pattern. Pivot #0 represents the most recently confirmed pivot, Pivot #1 is the previous pivot, and so on.
CUSTOM SOURCE
By default, the upper boundary is calculated from pivot highs and the lower boundary from pivot lows. Enabling Use Custom Source applies the selected source to both pivot calculations. This can be useful for traders who prefer structures based on closing prices or another custom data series rather than candle extremes.
IMPORTANT NOTES
Pivot-based detection requires future bars to confirm a swing. Pivot markers are placed on the original pivot bars after confirmation, so structures are not identified at the exact moment the pivot first forms.
In Auto Mode, the selected structure may update when new pivots are confirmed or when a different combination earns a better score. This is expected behavior for a continuously adapting market-structure tool.
Wedges and channels provide context—not certainty. A boundary touch does not guarantee a reversal, and a confirmed break does not guarantee continuation. Traders should combine the indicator with their own trend analysis, price-action confirmation, volume analysis, risk management, and broader market context.
Automatic Wedge & Channel Detector is designed to make complex chart structure easier to see while preserving the discretion required to trade it intelligently.
Indicator
Rising & Falling Wedge Detector [HexaTrades]Overview
Wedge Detector automatically identifies and draws the two most actionable wedge patterns: the Rising Wedge (bearish) and the Falling Wedge (bullish). It marks each as a converging cone, validates the geometry, waits for a bar-close breakout, then plots a measured-move target and a structure-based stop without repainting the pattern structure.
It is built around quality over quantity: a strict, perfect-shape gate ensures only genuinely converging, textbook wedges appear. Every part of the logic is transparent and tunable. Ideal for swing and intraday traders who trade chart patterns and want an objective, rules-based way to spot wedges and define risk.
What it detects
Rising Wedge( bearish)
Higher highs and higher lows, but the lows rise faster than the highs (the lines converge upward). Signals a likely breakdown confirmed on a close below the lower trendline.
Falling Wedge ( bullish)
Lower highs and lower lows, but the highs fall faster than the lows (the lines converge downward). Signals a likely breakout confirmed on a close above the upper trendline.
How the Indicator Works
- Pivots: confirmed swing highs/lows (locked pivotLen bars after they occur).
- Boundaries: upper line from the two most recent swing highs; lower line from the two most recent swing lows, projected as straight lines.
- Slope & convergence: rising = both up, lows rising faster; falling = both down, highs falling faster (set by Convergence strictness).
- Perfect-shape gate: no crossing inside, real narrowing, minimum contraction, apex ahead, sensible duration, minimum ATR height.
- Forming preview: dashed shaded cone while developing.
- Breakout: bar-close below lower line (rising → bearish) / above upper line (falling → bullish).
- Filters: optional EMA trend, volume, breakout-candle ATR size.
- Targets/stops: measured-move target + opposite-boundary stop, drawn as persistent right-extending lines.
Features
- Automatic detection of rising & falling wedges from confirmed pivots.
- Perfect-shape validation rejects crossing, barely-narrowing, diverging, past-apex, too-small or too-long shapes.
- Forming preview dashed shaded cone before breakout.
- Bar-close breakout confirmation, no intrabar fakes.
- Measured-move target + structure stop (opposite boundary).
- EMA trend filter, volume filter, breakout-candle ATR filter (all optional).
- Theme-aware dashboard + shaded wedge zone + 3 alerts.
Dashboard
Status: Forming while developing → Confirmed on breakout
Last wedge: Rising Wedge / Falling Wedge
Bias: Bearish / Bullish
Target: Projected take-profit level
Stop: Structure-based invalidation level
Filters: EMA / Volume / ATR shown as On / Off
Settings
Detection:
Pivot length: swing sensitivity. Lower = more (and smaller) wedges.
Min wedge height (ATR): rejects wedges smaller than this many ATR.
Convergence strictness: how strongly the lines must converge (higher = stricter).
Min width contraction: minimum narrowing from start to breakout.
Max wedge duration: rejects over-stretched patterns.
Show forming wedge: preview wedges before breakout.
Filters:
EMA trend filter: only confirm breakouts aligned with the EMA (falling wedge above EMA, rising wedge below).
Volume confirmation: requires above-average volume on the breakout candle.
Min breakout candle size: require a breakout candle of at least N×ATR.
Visuals
Toggle target/stop lines, colors for bullish/bearish / forming, and the dashboard.
Alerts:
Rising Wedge breakdown:bearish confirmation.
Falling Wedge breakout: bullish confirmation.
Any wedge confirmed - either of the above.
Create alerts with “Once per bar close” for non-repainting behaviour.
Trading Guide
- Identify: dashboard Status = Forming + clean dashed cone.
- Enter: on the bar-close breakout (▲/▼) in the wedge's direction.
- Avoid: when filters reject the breakout, or in choppy ranges.
- Stop: the drawn SL (opposite boundary). Target: the drawn TP (measured move).
- Risk: size so breakout→stop is an acceptable risk; R:R = (TP−entry) ÷ (entry−SL).
Bullish Example (Falling Wedge)
Down-trend forms a dashed falling cone → a candle closes above the upper line → ▲ prints, wedge turns solid green, Status = Confirmed → enter, SL = lower line, TP = breakout + wedge height.
Bearish Example (Rising Wedge)
Up-grind forms a dashed rising cone → a candle closes below the lower line → ▼ prints, wedge turns solid red → enter short, SL = upper line, TP = breakout − wedge height.
Best Markets & Timeframes
Markets: works on crypto, forex, stocks, indices, futures, commodities. Best on liquid instruments with clean swings (the volume filter is most meaningful on stocks/indices).
Timeframes: 5m/15m = more signals, more noise (use stricter filters); 1H/4H = the sweet spot; Daily/Weekly = highest quality, fewer & slower.
We would love to hear your suggestions. If you have ideas for new features, indicators, analytics, or improvements, please share your feedback. Your input helps guide future updates and improve the indicator for all traders.
Wedge pattern detector indicator is for educational and analytical purposes only. It is not financial advice. Trading involves risk. Always use proper risk management and combine this indicator with your own analysis before taking any trade.
Indicator
Wedge Chart Patterns [SSFX]Wedge Chart Patterns
Wedge Chart Patterns is a pattern-based breakout indicator designed to detect rising wedge and falling wedge formations, then transform valid breakouts into structured trade setups with predefined entry, stop loss, and take profit levels.
The script is built for traders who want more than simple visual pattern recognition. Instead of only drawing wedge structures, it filters breakouts using candle body strength, then projects a complete risk framework directly on the chart. This makes the tool suitable for both discretionary chart reading and systematic trade planning.
What this indicator does ?
This indicator continuously scans price action using pivot-based structure detection to identify wedge formations. Once a valid wedge is found, it tracks the upper and lower converging trendlines in real time and waits for a breakout in the expected direction.
A breakout is only considered tradable when the breakout candle shows enough conviction. The script measures the candle body as a percentage of the entire candle range and only allows entries when that body percentage is above a user-defined threshold. This helps filter out weak breakouts and reduce low-quality signals caused by indecision candles or excessive wicks.
After a valid breakout is confirmed, the indicator automatically builds a complete trade map:
✅ Entry level
✅ Stop loss
✅ Take profit
✅ Risk zone fill
✅ Reward zone fill
These levels are displayed directly on the chart and can be retained for the most recent trades for review and post-analysis.
Main features
✅ Detects rising wedges and falling wedges
✅ Uses pivot-based structure logic to form converging trendlines
✅ Validates wedge integrity before breakout
✅ Filters breakouts using minimum candle body percentage
✅ Generates long and short entry signals
✅ Supports multiple stop loss methods
✅ Supports risk-reward or fixed-point take profit
✅ Draws entry, SL, TP directly on the chart
✅ Adds filled SL/TP zones for fast visual trade reading
✅ Keeps the last several trade setups on screen
Best use cases
It can be used on multiple asset classes, including forex, gold, indices, crypto, and stocks, though results will depend on symbol behavior, timeframe, volatility conditions, and user settings.
Notes
This script is designed as a charting and trade-planning tool, not a guarantee of performance. Wedge patterns can fail, and breakout confirmation does not eliminate market risk. Users should always forward-test and adapt settings to the instrument and timeframe they trade. Indicator
