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Candlestickpattern

Hammers & Stars StrategyOverview This script trades basic hammer and shooting star candlestick patterns. It's an extremely simple strategy with minimal filters, and according to my personal manual backtesting and automated trading results, performs best on the Daily chart on certain forex pairs. It is intended to be traded on the forex markets but theoretically should work on all markets (especially if you optimize the settings). The script also comes with complete AutoView automation for Oanda. Make sure you've connected AutoView to TradingView and Oanda, then simply set an alert using the "alert() function calls only" condition and it will automatically execute trades based on whatever settings you've selected (only recommended for experienced traders - use at your own risk!) If you're not sure how to set up AutoView, search "The Art of Trading AutoView Guide" on YouTube to find my detailed video guide. Check out my website and YouTube channel for more information, scripts, resources and free Pine Script & trading lessons (link in my profile). Best of luck with your trading! - Matt / The Art of Trading Settings Menu Tooltips are included explaining what the various settings do, but here's a quick summary: Strategy Settings >= ATR Filter: Minimum size of entry candle compared to ATR <= ATR Filter: Maximum size of entry candle compared to ATR Stop Loss ATR: Stop loss multiplier (x ATR) R:R: Risk:Reward profile Fib Level: Used to calculate upper/lower third of candle. (For example, setting it to 0.5 will mean hammers must close >= 50% mark of the total candle size) Start Date Filter: Date & time to begin trading from End Date Filter: Date & time to stop trading AutoView Oanda Settings Use Oanda Demo: If turned on then oandapractice broker prefix will be used for AutoView alerts (demo account). If turned off then live account will be used Use Limit Order: If turned on then AutoView will use limit orders. If turned off then market orders will be used (recommended to use limit order to mitigate spread issues) Days To Leave Limit Order: This is your GTD setting (good til day) Account Balance: Your account balance (used for calculating position size) Account Currency: Your account balance currency (used for calculating position size) Risk Per Trade %: Your risk per trade as a % of your account balance
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ZenAndTheArtOfTrading tarafından
26
Candle Height in Percentage - ColumnsThis indicator calculates the difference in percentage between lows and highs of a candle. The orange bars show the height of the candle body (open/close) and the red/green on top show the percentage of the wicks (high/low). This assists in understanding the volatility of an asset. Showing this in percentages is more helpful in crypto. It also shows the Simple Moving Average of this data with the blue line.
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FreeReveller tarafından
6
CSPDMost Advanced & Accurate CandleStick Pattern Detector Looking All Over of All Markets for All Important Powerful Reversal | Corrective Patterns (25 type) Filtering the Results with Optional Features like Oscillator, Bollinger Bands, Volume Confirmation, Prior and Following Candles Confirmation which are Fully Customizable. With this you can detect: Hammer | Shooting star Inverted Hammer | Hanging Long legged Doji | Dragonfly Doji | Gravestone Doji Bullish tweezers | Bearish tweezers Bullish inside bar | Bearish inside bar Bullish three line strike | Bearish three line strike Bullish engulfing | Bearish engulfing Piercing line | Dark cloud cover Bullish abandoned baby | Bearish abandoned baby Morning star | Evening star Three white soldiers | Three black crows *Bullish kayo | *Bearish kayo Features: Prior and Following candles Confirmation    You can set prior and following candle as basic prerequisites for marking candles as pattern to make sure you are at the top or bottom of the trend. Volume confirmation    You can active volume increasing confirmation for some of pattern with adjustable increase % relative to prior candle | candles. Oscillator Confirmation    Active oscillator confirmation. Select your approved oscillator from list (Stochastic, RSI, StochRSI, MFI, StochMFI) then enter desired value for marking candles as bullish | bearish pattern. Bollinger Bands Confirmation    Active BB confirmation. Configure your Bollinger Bands. Now only see the patterns which reached or crossed from Bands. Also you can enable BB clod to have your BB indicator at the same time. Adjustable Flexibility and Precision    You can set tolerance% for Osc and BB Confirmation - each one separately - for more control. Self-adaptability    The properties of markets change over time, for example the amplitude of fluctuations and the intensity of movements. The script is designed in such a way that you can examine the price history as a benchmark for changes in market properties to adopt determinants. Also you can control those manually. Self-regulatory    The user has the ability to change input factors depending on their point of view. Behind the pattern recognition algorithms, there are relationships and similarities in their appearance that cause them to be influenced by each other. Simultaneously with changing the determining factors of each pattern by you, script automatically adjusts other details in accordance with your changes. Alerts    You can set for type of pattern or each one of pattern have been detected. Fully Costumizable    All of these options can be change and adjust. Note 1.    The patterns are based on extensive study of reference and famous sources and the experience of me and my friends in trading and analysis with price action methods. Note 2.    Due to the Pine limitations in the number of outputs | plots for each script, our attempt has been made to select the best and most important patterns. Note 3.    So far, many scripts have been written in this field, but our experience with all of them and even the build in version was not satisfactory, and this was the initial motivation for making the script. We strive to improve progress and elimination of shortcomings and we will continue to make this better. Note 4.    Through personal experience and based on the principles of market and candlestick psychology, we discovered a new type of pattern and named it as Kayo. kayo is a two candle pattern which formed when:     1.We have a pivot point with prior candles as left bars and following candles as right bar. Pivot candle called as second candle.     2.In a bullish kayo, first candle must closed descending and second candle must closed as ascending. For bearish kayo vise versa.     3.In a bullish kayo, second candle's lower wick must be longer then upper wick.     4. A pattern marked as kayo when its conditions do not correspond to any of the other patterns(include the confirmation that user added), ie it has the last naming priority over the other patterns. Note 5.    When you active confirmation options for patterns like hammer, engulf and etc which they conditions are like kayo in some extent, if they can't pass the confirmation steps, they can be marked as kayo pattern. Note 6.    If you active volume confirmation for Three white soldiers | Three black crows, the confirmation get passed if the volume of forth or third candle increased as value as entered relative to volume EMA3 of 3 candles. Note 7.    In a bullish pattern all highs of following candles MUST be higher than prior highs and all lows of following candles MUST be higher than prior lows. For bearish patterns vise versa. This type of confirmation depends on High and Low NOT close! Gift to price action lovers! Support us with your like and comments. let us know your experience, points and idea to make this better together.
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Algorca tarafından
38
[blackcat] L3 Price Positioning IndexLevel: 3 Background Are you tired of traditional Japanese candlesticks? Do you want to try a new type of candle master chart? Function L3 Price Positioning Index is totally brand-new candle chart invented by myself. This main chart can provide effective resistance and support levels, and you can see where the price is running at any time. There are 3 key circle lines. Green circle line is used to indicate oversold support or breakthrough support levels; yellow circle line indicates the midline position where prices may pause; and red circle line indicates overbought resistance or breakthrough resistance levels. There are two types of candlestick charts. The first type candles are mid-to-long-term trend candles, navy represents an uptrend and the length of the candle represents a change in intensity; maroon represents a downward trend and the length of the candle represents a change in intensity. This trend candle is the effective support and resistance level of the second type short-term swing candle. The second type candles are short-term candles fluctuate around the first medium- and long-term trend candles. The second short-term candle is divided into five colors: green means pump; fuchsia means retracement in the ascending process; yellow means bullish reversal signal; red means dump; blue means price rebound in the descending process. Key Signal THREE KEY LINES: htop --> red circle line, overbought resistance or pump breakout threshold hmid --> yellow circle line, price pause zone, sideways may happen here hbot --> green circle line, oversold support or dump breakout threshold MID-LONG TERM CANDLES: x22,x33 --> navy for up and maroon for down trend, they are important support or resistance for short term price movements SHORT TERM CANDLES: 1. bearreboun --> rebounce in down trend candle with blue color 2. pump --> up trend pump candle with green color 3. bullreversal --> bullish reversal candle with yellow color 4. dump --> bearish dump candle with red color 5. bullretra --> retracement in up trend candle with fuchsia Pros and Cons Pros: 1. Long term trend identification by three lines for overbought, oversold and breakouts 2. Mid term trend support and resistance with navy and maroon candles 3. Short term price behaviors are classified into 5 types of candles in blue, green, yellow, red and fuchsia Cons: I invent this to solve traditional JP candlestick shortcomings. If you find anything on Cons, just feedback to me for improvements. Remarks Brand-new Candle System invented by myself Readme In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts. The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works. Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element. Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level. Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated. Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop. Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
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blackcat1402 tarafından
14
Moving Average of Upper and Lower Wicks with optional smoothingIn the book, The New Technical Trader by Tushar Chande and Stanley Kroll there is a part that talks about candlestick analysis and how the wicks play a role on how the price will behave. When wick lengths increase then there could be uncertainty. Weakening of support and resistance levels can also be seen by the size of the candlestick wicks or shadows. Shoutouts to Mango2Juice from Tradingview and the The Academy of Forex for helping me out in making this and providing the moving averages function. When combined with other indicators or strategies, I find that this increases their accuracy when used correctly. For those that believe in price action, this might be worth a try. The book has only a brief section on candlestick wicks but it is one of the most interesting ideas I found. The book likes to include a simple moving average in its indicators with a certain length to provide a smoothing type of effect or a sort of extra indicator for the other to be above to give off quicker signals at the cost of accuracy. For this indicator it acts as a smoothing type effect which I put in because it is hard to see the slope and direction of where the moving averages of the wicks are going. The type of moving averages to use and the correct lengths are questionable and are not explained well in the book. If anyone can figure out a good use for this or know better settings or tips, please let me know.
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SparkyFlary tarafından
3
L2 Candle Pattern ScalperLevel: 2 Background Japanese candlesticks provide more detailed and accurate information about price movements compared to bar charts. They provide a graphical representation of the supply and demand behind the price promotions for each period. Each candlestick contains a central part that indicates the distance between the opening and closing of the security being traded, the area called the body. Scalping is a trading strategy that aims to take advantage of minor changes in the stock price. Traders using this strategy place anywhere from 10 to a few hundred trades in a single day with the belief that small moves in the stock price are easier to catch than large ones. Traders who implement this strategy are known as scalpers. Lots of small wins can easily lead to big wins if a strict exit strategy is used to prevent big losses. Function L2 Candle Pattern Scalper utilizes candle pattern to decide long and short entry signal. It use inherent candles' relationship nearby to judge the market trend is up or down and decide to long or short. Signal buysmall --> long entry exitred --> short entry Pros and Cons Pros: 1. its response is fast because OHLC candle is the raw source of market 2. it is suitable for scalping because it studies nearby candles to judge very short term trend change Cons: 1. Mid-long term change is missing from this indicator, although I use fast and slow lines to indicate the mid-term trend. 2. No stop loss or take profit scheme is introduced. Remarks This is promising but need efforts to refine it. Readme In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts. The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works. Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element. Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level. Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated. Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop. Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
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blackcat1402 tarafından
40
Reversal closing priceThe reversal closing price (RCP) is a candlestick pattern which follows two simples rules: the low price of current candle needs to be lower than the low price of the last 2 candles the closing price of current candle needes to be higher than the closing price of the last candle This generates a signal for a long position. For a short position, the conditions are inverted: the high price of current candle needs to be higher than the high price of the last 2 candles the closing price of current candle needes to be lower than the closing price of the last candle Since RCP is a trend follower indicator, the strategy is programmed in such a way that long positions are only placed if the short period EMA is above the long period EMA, and short positions are only placed if the short EMA is bellow the long EMA. Both periods are configurable, and should be ajusted for each asset. This strategy uses a fixed stop loss and take profit, and the it's ratio is configurable. The stop price is one tick lower than the lowest price of X candles prior to the order execution for long positions, while in short positions it's one tick higher than the higher price. The amount of candles to lookback (X) is configurable. Both stop and take profit prices are displayed, the first as a red line, and the second as a green line. This is the setting that I've found to work best with TVC:SPX , but you may find a better setting. While the RCP is universal, it's placement depends on the trend and it's strenght, something that is very heterogeneous among assets. I really wish that I was able to place images, but I don't have PRO, so text will have to do. This strategy was designed by Alexandre Wolwacz, a.k.a. Stormer.
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EduardoMattje tarafından
9
Swing Highs/Lows & Candle Patterns [LuxAlgo]This script labels swing highs and swing lows as well as the candle pattern that occurred at that precise point. The script can detect the following 6 candle patterns: hammer, inverse hammer, bullish engulfing, hanging man, shooting star, and bearish engulfing. This indicator by its very nature backpaints by default, meaning that the displayed components are offset in the past. 🔶 USAGE It can be interesting to see if a top or bottom is associated with a specific candle pattern, this allows us to study the potential of such a pattern to indicate a reversal. You can hover on a label with a specific pattern to see more details about it. The notations HH, HL, LH, and LL you can see on the labels are defined as follows: HH : Higher high HL : Higher low LH : Lower high LL : Lower low 🔶 SETTING Length: Sensitivity of the swing high/low detection, with lower values returning the maximum/minimum of shorter-term price variations.
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LuxAlgo tarafından
145
Cumulative Delta VolumeHello Traders, This is Cumulative Delta Volume script. Delta refers to the difference between buying and selling volume at each price level. Cumulative Delta builds upon this concept by recording a cumulative tally of these differences in buying vs selling volume. The Cumulative Delta indicator plots as candlesticks or line. One of the main uses of Cumulative Delta is to confirm or deny market trends. you may need to search it for yourself ;) You have option to see it as Candles or a Line. also there are options to show 2 SMAs and 2 EMAs with different Lengths, you can set the lengths as you wish. By default it shows CDV as Heikin Ashi Candles, it can also show it as normal candles: It can show CDV as a line: Also you may need to check divergence: Enjoy!
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LonesomeTheBlue tarafından
111
Candle checker for long/short for scalping/day tradingHey. This strategy is still in working. For it I check a x amount of candles in the past if they been for example all red/green in row, and based on that I enter. For example candle 7 < candle 6 .... candle 3 < candle 2 .... candle 1 < candle current for long and viceversa for short. After that,once the trade is initiated, I exit based on 2 possibilities : candle color is different than the color of candle when entry, or based tp/sl. Let me know what you think of it. I will try to make the process to calculate automatically and input the number of candles to check like 5-10-15 and so on.
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SoftKill21 tarafından
Magic CandleThis indicator is very simple, but surprisingly effective, and I haven't found any mention of something similar, so here it is. I hope it helps you in your stock trading. Someone made a comment in a trading room that the 8 am candle of the stock looked odd, so I quickly checked all the other stocks I had on my screen, and for all of them, the 8 am candle was just a little strange. What's more, is that the stock would often respond to the high and low values of that 8 am candle later on in the day. It turned out to be quite an important support and resistance level indicator for stocks which I've used in my trading ever since I discovered it. After testing it out day after day on multiple stocks, I decided to write this indicator, which not only projects the high and low values of the 8 am candle, but also the previous day's closing price. If you find that there's another "magic candle" out there for Forex or Crypto, please let me know! You have the option to set the "magic candle" to another time, if you want to experiment with things.
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EasyTradingSignals tarafından
11
Bullish Piercing ScannerA piercing pattern is known in technical analysis to be a potential signal for a bullish reversal. The formation in its strictest form is rather rare, but tends to perform better the longer the downtrend in front of it. When technical studies such as RSI, Stochastic or MACD are showing a bullish divergence at the same time a piercing pattern appears, it strengthens the likelihood that this two-day pattern is meaningful. This is a two-candle pattern. The previous candle must be bearish, the recent candle must open below the close of the previous candle, the recent candle must close above the middle of the previous candle. You can adjust the closing and opening gap between the two candles within this scanner's settings (price).
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TsangYouJun tarafından
6
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.
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Dipak_Patil_ tarafından
18
Candlestick Pattern IdentifierMy script builds upon another user-submitted script by rebuilding the logic used to identify candlestick patterns. The logic in my script is a mix of strict and lax guidelines to mitigate false flags and present valid buy and sell signals. -To use this indicator, simply add it to any chart. It will identify trends on any time frame although the lower you go, the more signals you'll see and the higher probability of those signals being false flags. You can also disable any candlestick patterns that you feel are not as useful. - This indicator works best with Stocks and also with Forex markets to a lesser extent. - This indicator works the best on the Daily chart and also works (with varying degrees of success) on any timeframe at or above 1 hour. I've found that this indicator works the best when used in tandem with the Daily and Hourly charts with the Hourly chart being used to determine an entry point while the Daily chart is used for long term trend analysis.
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Depsi tarafından
9
123 Trend Continuation PatternThis simple indicator will help identify the 123 Patterns on the charts. It's build based on the zigzag indicator, which will work as a guideline to identify the 3 points. As soon as the price crosses the third point, the indicator will draw 3 lines: entry, take profit, and stop loss. Those lines will work as a reference and may help with other indicators. This kind of analysis will work on any time frame and symbol, but those markets that have high volatility may have better result
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ThiagoSchmitz tarafından
59
Crypto Trader X Candelstick PatternsCrypto Trader X Candelstick Patterns this andicator contain all candelstick patterns Bullish & Berash Engulf Candel, Doji & Dragonfly Doji Candel, Hammer Candel, Hanging Man Candel inverted Hammer Candel, Shooting Star Candel, Marabuzo black & White Candel, Spinning top black & White candel Abandoned Baby Bearish, Abandoned Baby Bullish, Gravestone Doji Candel, Harami Bearish Candel, Harami Bullish Candel Kicking Bearish Candel, Kicking Bullish Candel, Long Lower Shadow Bullish Candel, Long Lower Shadow Bearish Candel Morning Star, Three White Soldiers, Three Black Crows, Tri-Star Bearish & Bullish, Engulf bar color, Reversal bar , bar color
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Vahid_Z_28 tarafından