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OPEN-SOURCE SCRIPT
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Head & Shoulders S/R Regular

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This is my take in Head & Shoulders (regular H&S)
The script will wait until a valid point E is found, which means A, C and E are alined
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Then it will find the highest point between C - E -> Head (= D),
together with the highest point between A - C -> Left Shoulder (= B)

After this, the pattern is drawn, together with a 'trigger' area (E-G - E'-G' ~ 'Right shoulder area')
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ONLY in this field, when a close is higher than E'-G', the figure will turn green, if lower than E-G, it will turn red, else, it will be blue
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Settings:
  • Date range filtering
    Here you can filter the patterns by setting the date period (for E)
  • Pivot Points -> Leftbars - Rightbars
  • min/max retrace AD -> E
    Set the retracement for E (retracement A -> D -> E, here between 1.4 & 1.5)
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  • % tolerance [L ~ R shoulder height]
    Tolerance of Right shoulder height against Left shoulder height
    0% (= the same relative height):
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    85% (-> now close isn't higher than E'-G' -> blue coloured):
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  • min/max % [Left Shoulder ~ Head]
    Sets the desired B height against D (here B is between 35-45% of D):
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  • width R shoulder = L shoulder + x%
    Sets the width of Right shoulder against Left shoulder
    0% (nothing extra, just the same width as Left shoulder)
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    100% (Right shoulder area is double as large as the Left shoulder):
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    -70% (Right shoulder area much narrower than Left shoulder):
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  • maximum visible patterns:
    Set the maximum visible amount of patterns


This script uses one of the latest fantastic Pinescript features:
linefill[] and for ... in loop

Cheers!
Sürüm Notları
Code improvement
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update
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update

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.