OPEN-SOURCE SCRIPT
Al Brooks II.IOI.OO

# Al Brooks Consecutive Bar Patterns (II/OO/IOI)
## Overview
This indicator automatically identifies Al Brooks' key consecutive bar patterns that signal important market transitions. Enhanced with both **traditional (high/low)** and **body (open/close)** detection methods for more accurate signals.
## Pattern Definitions
### 📊 II Pattern - Double Inside Bars
- **Signal**: Two consecutive inside bars
- **Market Meaning**: Volatility contraction, breakout pending
- **Trading**: Wait for breakout, trade with momentum
### 📊 OO Pattern - Double Outside Bars
- **Signal**: Two consecutive outside bars
- **Market Meaning**: Volatility expansion, trend acceleration or reversal
- **Trading**: Watch for exhaustion at key levels
### 📊 IOI Pattern - Inside-Outside-Inside
- **Signal**: Inside bar → Outside bar → Inside bar sequence
- **Market Meaning**: Market indecision, complex consolidation
- **Trading**: Avoid early entries, wait for clear direction
## Features
✅ **Dual Detection System**
- Traditional: Uses high/low prices (catches wicks)
- Body: Uses open/close prices (focuses on real trading range)
- Combined: Triggers when either condition is met
✅ **Visual Markers**
- Clear labels above/below bars
- Color-coded backgrounds
- Detection source indicators (h=high/low, b=body, +=both)
✅ **Smart Alerts**
- Real-time pattern detection
- Separate alerts for body-only patterns
- Customizable notification settings
## Settings
**Display Options**
- Show/hide each pattern type
- Toggle detection methods
- Customize colors
**Detection Modes**
- High/Low Detection: Traditional wick-based
- Body Detection: Open/Close based
- Show Source: Display what triggered the pattern
## Trading Tips
1. **Best Timeframes**: 1H, 4H, Daily
2. **Combine with**: Volume, trend indicators, support/resistance
3. **Risk Management**:
- II: Tight stops inside pattern
- OO: Wider stops due to volatility
- IOI: Scale in positions
## Label Meanings
- `ii` / `OO` / `ioi` = Base pattern detected
- `+h` suffix = High/Low triggered
- `+b` suffix = Body triggered
- `++` suffix = Both conditions met (strongest signal)
## Author Notes
Based on Al Brooks' price action methodology from his Trading Price Action series. This enhanced version adds body detection to filter out wick-only patterns and reduce false signals.
---
*For educational purposes only. Trading involves risk.*
**Version 2.0** | **Pine Script v6** | **JimmC98**
## Overview
This indicator automatically identifies Al Brooks' key consecutive bar patterns that signal important market transitions. Enhanced with both **traditional (high/low)** and **body (open/close)** detection methods for more accurate signals.
## Pattern Definitions
### 📊 II Pattern - Double Inside Bars
- **Signal**: Two consecutive inside bars
- **Market Meaning**: Volatility contraction, breakout pending
- **Trading**: Wait for breakout, trade with momentum
### 📊 OO Pattern - Double Outside Bars
- **Signal**: Two consecutive outside bars
- **Market Meaning**: Volatility expansion, trend acceleration or reversal
- **Trading**: Watch for exhaustion at key levels
### 📊 IOI Pattern - Inside-Outside-Inside
- **Signal**: Inside bar → Outside bar → Inside bar sequence
- **Market Meaning**: Market indecision, complex consolidation
- **Trading**: Avoid early entries, wait for clear direction
## Features
✅ **Dual Detection System**
- Traditional: Uses high/low prices (catches wicks)
- Body: Uses open/close prices (focuses on real trading range)
- Combined: Triggers when either condition is met
✅ **Visual Markers**
- Clear labels above/below bars
- Color-coded backgrounds
- Detection source indicators (h=high/low, b=body, +=both)
✅ **Smart Alerts**
- Real-time pattern detection
- Separate alerts for body-only patterns
- Customizable notification settings
## Settings
**Display Options**
- Show/hide each pattern type
- Toggle detection methods
- Customize colors
**Detection Modes**
- High/Low Detection: Traditional wick-based
- Body Detection: Open/Close based
- Show Source: Display what triggered the pattern
## Trading Tips
1. **Best Timeframes**: 1H, 4H, Daily
2. **Combine with**: Volume, trend indicators, support/resistance
3. **Risk Management**:
- II: Tight stops inside pattern
- OO: Wider stops due to volatility
- IOI: Scale in positions
## Label Meanings
- `ii` / `OO` / `ioi` = Base pattern detected
- `+h` suffix = High/Low triggered
- `+b` suffix = Body triggered
- `++` suffix = Both conditions met (strongest signal)
## Author Notes
Based on Al Brooks' price action methodology from his Trading Price Action series. This enhanced version adds body detection to filter out wick-only patterns and reduce false signals.
---
*For educational purposes only. Trading involves risk.*
**Version 2.0** | **Pine Script v6** | **JimmC98**
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının oluşturucusu bunu açık kaynaklı hale getirmiştir, böylece yatırımcılar betiğin işlevselliğini inceleyip doğrulayabilir. Yazara saygı! Ücretsiz olarak kullanabilirsiniz, ancak kodu yeniden yayınlamanın Site Kurallarımıza tabi olduğunu unutmayın.
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.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının oluşturucusu bunu açık kaynaklı hale getirmiştir, böylece yatırımcılar betiğin işlevselliğini inceleyip doğrulayabilir. Yazara saygı! Ücretsiz olarak kullanabilirsiniz, ancak kodu yeniden yayınlamanın Site Kurallarımıza tabi olduğunu unutmayın.
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.