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Candlestick Pattern DetectorCandlestick Pattern Detector Overview Welcome to the Candlestick Pattern Detector, a powerful tool designed to help traders identify key candlestick patterns on any chart. This indicator detects some of the most significant candlestick patterns and provides brief descriptions directly on the chart, making it easier for you to interpret market signals and make informed trading decisions. Detected Patterns Doji Description: A Doji indicates market indecision. It occurs when the open and close prices are very close, suggesting a balance between bullish and bearish forces. Signal: Possible trend reversal or continuation depending on the context. Hammer Description: A Hammer appears at the bottom of a downtrend, characterized by a small body and a long lower wick. It suggests that buyers are stepping in to push prices higher. Signal: Bullish reversal. Hanging Man Description: The Hanging Man occurs at the top of an uptrend with a small body and a long lower wick. It indicates that selling pressure is starting to take over. Signal: Bearish reversal. Shooting Star Description: The Shooting Star appears at the top of an uptrend with a small body and a long upper wick, indicating that buyers are losing control and sellers may push prices down. Signal: Bearish reversal. How to Use Add to Chart: Click on the "Indicators" button in TradingView, search for "Candlestick Pattern Detector," and add it to your chart. Visual Signals: The indicator will automatically mark detected patterns with labels on your chart. Interpret Patterns: Use the brief descriptions provided with each detected pattern to understand market sentiment and potential price movements. Conclusion The Candlestick Pattern Detector is a helpful tool for traders of all levels, providing clear and concise information about key candlestick patterns. By integrating this indicator into your trading strategy, you can enhance your ability to read price action and make better trading decisions.
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OxOzen tarafından
Candlesticks Not Touching EMA 3 & EMA 5 ScannerCandlesticks Not Touching EMA 3 & EMA 5 Scanner Short Title: EMA Scanner Overview This indicator scans for candlesticks that do not touch the EMA 3 and EMA 5, highlighting potential trading opportunities where price action is significantly distanced from these moving averages. It identifies momentum-based entries and helps traders spot strong trends. How It Works It checks if the candle's high and low are completely above or below both EMAs (3 & 5). It ensures that the distance between the candle and EMA 5 is at least a user-defined multiple of the candle range. When a valid candle is detected, a triangle marker appears below (for long trades) or above (for short trades). Trade Execution Strategy Entry: Long Entry → Break of the candle’s high Short Entry → Break of the candle’s low Stop Loss: Long SL → Low of the same candle Short SL → High of the same candle Target: EMA 5 Additional Features ✅ Plots EMA 3 (Blue) and EMA 5 (Red) for reference ✅ Marks potential long and short trades with arrows ✅ Detects & plots when Target or Stop Loss is hit ✅ Alerts for valid signals, target hits, and stop loss hits Best Use Cases 🔹 Suitable for intraday & swing traders looking for momentum-based trades 🔹 Works well in trending markets 🔹 Helps identify mean-reversion & breakout opportunities 🚀 Use this indicator to refine your trading setups & boost your market edge! 🚀
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Varadb924 tarafından
Candlestick Strength and Weakness with RSI and OBVThe "Candlestick Strength and Weakness with RSI and OBV" indicator, denoted as CSW, is a tool designed to assist traders in identifying potential trend reversals in financial markets. The CSW indicator combines the analysis of candlestick patterns, relative strength index (RSI), and on-balance volume (OBV) to provide traders with valuable insights into market dynamics. The CSW indicator calculates the strength and weakness of each candlestick based on its open, close, high, and low prices. It considers the body range, upper shadow range, and lower shadow range of the candlestick to determine the distribution of strength and weakness within it. By quantifying the candlestick's strength and weakness, the indicator provides a visual representation of the balance between bullish and bearish forces in the market. In addition to candlestick analysis, the CSW indicator incorporates RSI and OBV calculations to further validate potential trend reversals. The RSI is a widely-used momentum oscillator that measures the speed and change of price movements. The OBV, on the other hand, tracks the cumulative volume flow and helps identify periods of accumulation or distribution. By considering these indicators alongside candlestick strength and weakness, the CSW indicator enhances the accuracy of its signals. To interpret the CSW indicator effectively, traders should consider the following: Candlestick Strength and Weakness: The indicator plots two lines, "Candle Strength" and "Candle Weakness," representing the strength and weakness of each candlestick. The strength line indicates the bullish pressure, while the weakness line represents the bearish pressure. Potential Reversal Signals: The CSW indicator identifies potential trend reversals based on the balance between candlestick strength and weakness, RSI readings, and OBV values. A bullish reversal signal occurs when the strength is higher than weakness, the RSI is below 30 (indicating oversold conditions), and the OBV is below its 20-period simple moving average (SMA). Conversely, a bearish reversal signal occurs when the weakness is higher than strength, the RSI is above 70 (indicating overbought conditions), and the OBV is above its 20-period SMA. Trend Confirmation: The CSW indicator provides additional confirmation by comparing the closing price with the 20-period exponential moving average (EMA). If the closing price is above the EMA, it suggests an uptrend, while a closing price below the EMA indicates a downtrend. Traders can add the indicator to their charts and customize its parameters based on their preferences. By monitoring the indicator's plots and observing the occurrence of potential reversal signals in alignment with the trend confirmation, traders can make informed decisions regarding entry or exit points in their trading strategies.
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melvinmoron tarafından
2
Candlestick PatternsShort Description: Identify and visualize 16 key candlestick patterns in real-time. Long Description: The Candlestick Pattern Detector is a powerful indicator designed to help traders identify and visualize 16 key candlestick patterns in real-time. This indicator overlays the identified patterns on the chart, making it easy for traders to spot potential trend reversals, continuations, or significant price movements. The indicator detects the following candlestick patterns: Bullish Engulfing Bearish Engulfing Bullish Harami Bearish Harami Bullish Piercing Dark Cloud Cover Hammer Hanging Man Inverted Hammer Shooting Star Morning Star Evening Star Three White Soldiers Three Black Crows Bullish Marubozu Bearish Marubozu Each pattern is labeled on the chart with its respective name and color-coded to indicate whether it's a bullish (green) or bearish (red) signal. This makes it easy for traders to quickly spot patterns and make informed decisions based on the detected signals. To use the Candlestick Pattern Detector, simply add it to your TradingView chart, and it will automatically highlight the identified patterns on the price chart. The patterns are identified based on well-established candlestick pattern recognition techniques, giving traders a reliable tool to aid their technical analysis. Whether you're a seasoned trader or just starting, the Candlestick Pattern Detector can be a valuable addition to your trading toolkit, helping you to identify potential trading opportunities based on classic candlestick patterns.
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Angelo1998 tarafından
2
Candlestick High/Low Labels📌 Indicator Name: Candlestick High/Low Labels 🧠 Author: Precious Life Dynamics (@Precious_Life) 📋 Description: The Candlestick High/Low Labels indicator highlights recent price extremes by placing labels above highs and below lows of previous candles. Additionally, it displays a live OHLCV dashboard in the bottom-right corner, offering a quick overview of recent market data. This tool is especially useful for: Identifying support/resistance levels Tracking candle behavior Visualizing volume trends in context ⚙️ How It Works: 🔸 High/Low Labels: Each of the most recent candles (based on Candle Lookback) is annotated as follows: 🔹 Red label above each candle’s high 🔹 Green label below each candle’s low 🔹 Price values are rounded (no decimals) 🔹 Labels are dynamically updated; old ones are removed 🔹 Label visibility can be toggled via the Show Labels input 🔸 OHLCV Dashboard: A real-time data table appears in the bottom-right corner of the chart. It displays the last N candles (based on Dashboard Lookback) with the following fields: 🔹 Candle Number (1 = most recent) 🔹 Open, High, Low, Close 🔹 Volume 🔹 Values are rounded for readability 🔹 White background with black text ensures high visual clarity 🔧 Customizable Inputs: ✅ Candle Lookback → Number of candles to label (default: 10) ✅ Show Labels → Toggle High/Low label display on/off ✅ Dashboard Lookback → Number of candles shown in the OHLCV table (default: 10) 🎯 Use Cases: 🔹 Identify recent price extremes and reaction zones 🔹 Spot dynamic support and resistance levels 🔹 Observe how candles behave at swing highs/lows 🔹 Monitor volume activity in relation to price 🔹 Use as a clean visual tool for scalping and intraday trading 📝 Notes: 🔹 This indicator is purely visual – it does not generate trade signals 🔹 Best suited for traders who value clear, real-time price structure feedback
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Precious_Life tarafından
Candlestick Pattern DetectorFeatures Reversal Patterns: Bullish Patterns: Bullish Engulfing: A strong reversal signal when a bullish candle completely engulfs the previous bearish candle. Hammer: Indicates a potential bottom reversal with a small body and a long lower wick. Morning Star: A three-candle pattern signaling a transition from a downtrend to an uptrend. Bearish Patterns: Bearish Engulfing: A bearish candle fully engulfs the prior bullish candle, indicating a potential downtrend. Shooting Star: A potential top reversal with a small body and a long upper wick. Evening Star: A three-candle pattern signaling a shift from an uptrend to a downtrend. Continuation Patterns: Bullish Continuation: Rising Three Methods: A consolidation pattern within an uptrend, indicating the trend is likely to continue. Bearish Continuation: Falling Three Methods: A consolidation pattern within a downtrend, suggesting further downside movement. Visual Highlights: Bullish Reversal Patterns: Labeled below candles with a green "Bullish" marker. Bearish Reversal Patterns: Labeled above candles with a red "Bearish" marker. Bullish Continuation Patterns: Displayed as blue triangles pointing upward. Bearish Continuation Patterns: Displayed as orange triangles pointing downward. Real-Time Alerts: Get notified when a specific candlestick pattern is detected, enabling you to act quickly in dynamic market conditions.
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Strebooy tarafından
Candlestick indicators combinationWith the inclusion of the candlestick identifiers added to trading view today, I have compiled my favourite identifiers and put them together here. This way, you can see the following together instead of separately: Bearish Engulfing Bullish Engulfing The Morning Star The Three White Soldiers The Hammer The Inverted Hammer See Investopedia for more on these indicators. In addition, I have made the indicators to show green if indicating a bullish trend, red if indicating a bearish trend, and blue if indicating something else. Please validate these indicators with other factors like EMA before proceeding to make a trade. Please let me know if there are other indicators you would like me to compile to this list. Best wishes, and happy trading!
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dorywe tarafından
CandleStick [TradingFinder] - All Reversal & Trend Patterns🔵 Introduction "Candlesticks" patterns are used to predict price movements. We have included 5 of the best candlestick patterns that are common and very useful in "technical analysis" in this script to identify them automatically. The most important advantage of this indicator for users is saving time and high precision in identifying patterns. These patterns are "Pin Bar," "Dark Cloud," "Piercing Line," "3 Inside Bar," and "Engulfing." By using these patterns, you can predict price movements more accurately and therefore make better decisions in your trades. 🔵 How to Use Pin Bar : This pattern consists of a Candle where "Open Price," "Close Price," "High Price," and "Low Price" form the "Candle Body," and it also has "Long Shadow" and "Short Shadow." In the visual appearance of the Pin Bar pattern, we have a candle body and a pin bar shadow, where the candle body is smaller relative to the shadow. Just as the candle body plays an important role in analysis, the pin bar shadow can also be influential. The larger the pin bar shadow, the stronger the expectation of a trend reversal. When a "bearish pin bar" occurs at resistance or the chart ceiling, it can be predicted that the price trend will be downward. Similarly, at support points and the chart floor, a "bullish pin bar" can indicate an upward price movement. Additionally, patterns like "Hammer," "Shooting Star," "Hanging Man," and "Inverted Hammer" are types of pin bars. Pin bars are formed in two ways: bullish pin bars have a long lower shadow, and bearish pin bars have a long upper shadow. Important: Displaying "Bullish Pin Bar" is labeled "BuPB," and "Bearish Pin Bar" is labeled "BePB." Dark Cloud : The Dark Cloud pattern is one type of two-candle patterns that occurs at the end of an uptrend. The 2-candle pattern indicates the shape of this pattern, which actually consists of 2 candles, one bullish and one bearish. This pattern indicates a trend reversal and is quite powerful. The Dark Cloud pattern is seen when, after a bullish candle at the end of an uptrend, a bearish candle opens at a higher level (weakly, equal, or higher) than the closing point of the bullish candle and finally closes at a point approximately in the middle of the previous candle. In this indicator, the Dark Cloud pattern is identified as "Wick" and "Strong" . The difference between these two lies in the strictness of their conditions. Important: Strong Dark Cloud is labeled "SDC," and Weak Dark Cloud is labeled "WDC." Piercing Line : The Piercing candlestick pattern consists of 2 candles, the first being bearish and consistent with the previous trend, and the second being bullish. The conditions of the pattern are such that the first candle is bearish and a price gap is created between the two candles upon the opening of the next candle because its opening price is below (weakly equal to or less than) the closing price of the previous candle. Additionally, its closing price must be at least 50% above the red candle. This means that the second candle must penetrate at least 50% into the first candle. Important: Strong Piercing Line is labeled "SPL," and Weak Piercing Line is labeled "WPL." 3 Inside Bar (3 Bar Reversal) : The 3 Inside Bar pattern is a reversal pattern. This pattern consists of 3 consecutive candles and can be either bullish or bearish. In the bullish pattern (Inside Up) formed at the end of a downtrend, the last candle must be bullish, and the third candle from the end must be bearish. Additionally, the close price must be more than 50% of the third candle from the end. In the bearish pattern (Inside Down) formed at the end of an uptrend, the last candle must be bearish, and the third candle from the end must be bullish. Additionally, the close price must be less than 50% of the third candle from the end. Important: Bullish 3 Inside Bar is labeled "Bu3IB," and Bearish 3 Inside Bar is labeled "Be3IB." Engulfing : The Engulfing candlestick pattern is a reversal pattern and consists of at least two candles, where one of them completely engulfs the body of the previous or following candle due to high volatility. For this reason, the term "engulfing" is used for this pattern. This pattern occurs when the price body of a candle encompasses one or more candles before it. Engulfing candles can be bullish or bearish. Bullish Engulfing forms as a reversal candle at the end of a downtrend. Bullish Engulfing indicates strong buying power and signals the beginning of an uptrend. This pattern is a bullish candle with a long upward body that completely covers the downward body before it. Bearish Engulfing, as a reversal pattern, is a long bearish candle that engulfs the upward candle before it. Bearish Engulfing forms at the end of an uptrend and indicates the pressure of new sellers and their strong power. Additionally, forming this pattern at resistance levels and the absence of a lower shadow increases its credibility. Important: Bullish Engulfing is labeled "BuE," and Bearish Engulfing is labeled "BeE." 🔵 Settings This section, you can use the buttons "Show Pin Bar," "Show Dark Cloud," "Show Piercing Line," "Show 3 Inside Bar," and "Show Engulfing" to enable or disable the display of each of these candlestick patterns.
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TFlab tarafından
4
Candlestick Reversal and Trend Signals [AlgoAlpha]🚀 Unleash your charting capabilities with the Candlestick Reversal and Trend Signals indicator by AlgoAlpha, your go-to tool for spotting pivotal market movements! This script enhances your trading experience by identifying key candlestick patterns and trend changes, perfect for traders aiming for precision in their technical analysis. 🛠 Key Features: - 🔄 Multi-Timeframe Analysis : Leverages a timeframe multiplier to analyze levels on higher timeframes, enhancing the depth and applicability of insights. - 🧩 Diverse Pattern Detection : Capable of detecting a wide array of patterns including Bull/Bear Engulfings, Dojis, Haramis, Piercing Lines, Dark Cloud Covers, and Morning/Evening Stars, each contributing to a robust trading strategy. - 🔍 Dynamic Trend Filters : Utilizes three exponential moving averages (EMAs) and volume filters to decisively confirm trend directions and strength, providing a clearer picture of market dynamics. - ⚙️ Customizable Settings : Features adjustable settings for filter period, signal thresholds, and appearance, allowing for a tailored analysis experience to fit individual trading styles. - 📉 Swing Levels Identification : Marks significant high and low swing points on the chart, highlighting potential pivot points and trend reversals for strategic trading decisions. 📈 Quick Guide to Using the Candlestick Reversal and Trend Signals Indicator 1. 🛠 Add the Indicator : Add the indicator to your favorites. Adjust the settings to match your analysis needs. 2. 📊 Analysis : Keep an eye out for the specific symbols plotted on your chart that indicate various candlestick patterns. Use these signals to enhance your market analysis. 3. 🔔 Set Alerts : Enable alerts for the patterns you are most interested in to get notified of potential trading opportunities without needing to monitor the charts constantly. Embark on your enhanced trading journey with this powerful tool! 🚀✨ Happy trading! 🧐 How It Works: The Candlestick Reversal and Trend Signals indicator operates by integrating several candlestick patterns and trend analysis features to assist in making informed trading decisions. Initially, it gathers user-defined settings like the period for filtering, signal thresholds, and the desired patterns to detect. It analyzes candlestick formations such as Bull/Bear Engulfings, Dojis, Haramis, and more, by comparing the current candlestick's attributes (such as body length and direction) with previous data to identify potential market reversals or confirmations. The indicator enhances its accuracy through additional filters like volume ratios and exponential moving averages (EMAs) that help validate the strength and direction of trends. By marking these patterns and trends visually on the chart, it provides clear signals that aid traders in identifying significant market movements efficiently. The script is then complemented with the 3 EMA indicator for trend detection and swing levels for added confluence.
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AlgoAlpha tarafından
24
Candlestick Channels [LuxAlgo]Candlestick Channels return channels whose extremities converge towards the price when a corresponding candlestick pattern is detected. This allows for us to obtain more reactive extremities in the presence of a cluster of candlestick patterns. The detected candlestick patterns are also highlighted with labels on your chart automatically. Settings Trend Length: Period of the stochastic oscillator used to determine trend sentiment; this sentiment is used to detect certain candlestick patterns. Convergence: Convergence percentage of the channel extremities used during the occurrence of a candlestick pattern. A lower value will return extremities converging more slowly toward the price. Smooth: Determines the degree of smoothness of the channel extremities. Patterns This category determines which patterns are detected by the indicator. Patterns toggled off will not be detected and won't affect the channels. Usage Candlesticks patterns are commonly used by traders to detect potential reversals or continuation periods in the price. It can be of interest to use them as core elements in the calculation of more classical indicators, this can allow us to filter out potential false signals returned by candlestick patterns by shifting the source of interpretation towards the channel extremities instead. In this indicator extremities converge towards the price when a corresponding pattern is detected. As such bullish patterns will make the upper extremity converge towards the price, facilitating a cross with price. Using a lower convergence percentage will require a greater number of patterns to make the extremity converge closer towards the price. Users can use the channel like most indicators returning extremities, with an uptrend being detected when price cross over the upper extremity and a downtrend being detected when price cross under the lower extremity. An approach solely making use of crosses between the price and the average line can be used but the user should expect further whipsaws signals. Users can eventually use the candlestick patterns as entries and use the extremities for confirmation. For example, users can follow a candlestick pattern return an indication in accordance with the detected trend by the channels. This approach would lead to the following of bullish patterns when they occur in an uptrend, that is when the price is above the average line (in orange). The same logic applies to bearish patterns. The chart above highlights the candlesticks patterns in accordance with a detected trend. Notes - Bullish/Bearish engulfing patterns are turned off by default due their more frequent appearance. - Candlestick patterns relying on gaps were not included, since they would be more uncommon in cryptocurrencies, thus leading to a disparity between the indicator performance on the cryptocurrency and stock market.
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LuxAlgo tarafından
26
Candlestick Trend Strength [AlgoAlpha]🚀🎉 Introducing the Candlestick Trend Strength by AlgoAlpha, a dynamic TradingView indicator designed to visually communicate the strength and direction of market trends right on your charts! 🕯️💪 Key Features: 🌈 Visual gauge for trend strength, color-coded for intuitive insights. ⏳ Customizable trend detection and normalization periods to match your trading strategy. 🎨 Flexible color settings for both uptrend (green) and downtrend (red). 🔔 Real-time alerts for trend reversals, helping you stay ahead of market moves. How to Use: 🛠 Add the Indicator: Add the indicator to favorites and customize it to suit your needs. 🔍 Analyze the Trends: Monitor the color changes in the gauge and bar color to identify strengthening or weakening trends. 🔔 Set Alerts: Configure alerts to notify you of trend changes, allowing you to react swiftly to trading opportunities without constant monitoring. Basic Logic Explained: The "Candlestick Trend Strength" indicator calculates the trend strength score by analyzing the ratio of the candle's wick to its body, alongside the direction of the candle (up or down). It uses a normalization period to adjust the sum of the trend score into a scale from -1 to 1, which is then plotted as a color gradient gauge from red (downtrend) to green (uptrend) on the chart. This representation helps traders quickly assess whether a trend is gaining or losing strength, and it updates in real-time with each new bar, providing a highly responsive tool for technical analysis. Embrace the power of visual trend analysis with the "Candlestick Trend Strength" by AlgoAlpha and transform your trading experience today! 🌟📈
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AlgoAlpha tarafından
10
Candlestick Bias OscillatorCandlestick Bias Oscillator (CBO) The Candlestick Bias Oscillator (CBO) with Signal Line is a pioneering indicator developed for the TradingView platform, designed to offer traders a nuanced analysis of market sentiment through the unique lens of candlestick patterns. This indicator stands out by merging traditional concepts of price action analysis with innovative mathematical computations, providing a fresh perspective on trend detection and potential market reversals. Originality and Utility At the core of the CBO's originality is its method of calculating the bias of candlesticks. Unlike conventional oscillators that may rely solely on closing prices or high-low ranges, the CBO incorporates both the body and wick of candlesticks into its analysis. This dual consideration allows for a more rounded understanding of market sentiment, capturing both the directional momentum and the strength of price rejections within a single oscillator. Mathematical Foundations 1. Body Bias: The CBO calculates the body bias by assessing the relative position of the close to the open within the day's range, scaled to a -100 to 100 range. This calculation reflects the bullish or bearish sentiment of the market, based on the day's closing momentum. Body Bias = (Close−Open​)/(High−Low) x 100 Wick Bias: Similarly, the wick bias calculation takes into account the lengths of the upper and lower wicks, indicating rejection levels beyond the body's close. The balance between these wicks is scaled similarly to the body bias, offering insight into the market's indecision or rejection of certain price levels. Wick Bias=(Lower Wick−Upper Wick)/(Total Wick Length) × 100 3. Overall Bias and Oscillator: By averaging the body and wick biases, the CBO yields an overall bias score, which is then smoothed over a user-defined period to create the oscillator. This oscillator provides a clear visual representation of the market's underlying sentiment, smoothed to filter out the noise. 4. Signal Line: A secondary smoothing of the oscillator creates the signal line, offering a trigger for potential trading signals when the oscillator crosses this line, indicative of a change in market momentum. How to Use the CBO: The CBO is versatile, suitable for various trading strategies, including scalping, swing trading, and long-term trend following. Traders can use the oscillator and signal line crossovers as indications for entry or exit points. The relative position of the oscillator to the zero line further provides insight into the prevailing market bias, enabling traders to align their strategies with the broader market sentiment. Why It Adds Value: The CBO's innovative approach to analyzing candlestick patterns fills a gap in the existing array of TradingView indicators. By providing a detailed analysis of both candle bodies and wicks, the CBO offers a more comprehensive view of market sentiment than traditional oscillators. This can be particularly useful for traders looking to gauge the strength of price movements and potential reversal points with greater precision. Conclusion: The Candle Bias Oscillator with Signal Line is not just another addition to the plethora of indicators on TradingView. It represents a significant advancement in the analysis of market sentiment, combining traditional concepts with a novel mathematical approach. By offering a deeper insight into the dynamics of candlestick patterns, the CBO equips traders with a powerful tool to navigate the complexities of the market with increased confidence. Explore the unique insights provided by the CBO and integrate it into your trading strategy for a more informed and nuanced market analysis.
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Tradenometry tarafından
1
Candlesticks Patterns [TradingFinder] Pin Bar Hammer Shooting🔵 Introduction Truly, the title "TradingView" doesn't do justice to this excellent website, and that's why I've written about its crucial aspect. In this indicator, the identification of all candlesticks known as "Pin bars" is explored. These candlesticks include the following: - Hammer : A Pin bar formed at the end of a bearish trend, with its body being either bearish or bullish. - Shooting Star : Formed at the end of a bullish trend, with its body being either bearish or bullish. - Hanging Man : Formed during an upward trend, characterized by a candle with a lower shadow. - Inverted Hammer : Formed during a downward trend, characterized by a candle with an upper shadow. 🟣 Important : For ease of use, we refer to these four candlestick patterns as Pin Bars and categorize them into the main friends "Bullish" and "Bearish." 🟣 Important : In all sources, Hanging Man and Inverted Hammer are referred to as "Reversal candles." However, in reality, whenever they appear after breaking a significant area (Break Out), we expect these candles to signal a continuation of the trend and confirmation in the direction of the trend. 🟣 Important : One of the best signs of market manipulation and entry by market giants is the "Ice Berg." So, it provides one of the best trading opportunities. 🔵 Reason for Creation Many traders, especially volume traders, use Pin bars as confirmation and enter the market after their occurrence. In this indicator, all four patterns are identified and displayed in a colored candle format, using "triangle" and "circle." When they are evident on the chart, directly or by drawing a horizontal line, they give us good alerts for reversal or continuation areas. 🔵 Information Table 1. Red circle: Pin bars formed in a downtrend. 2. Blue circle: Bullish Pin bars formed in an uptrend. 3. Black triangle: Bearish Pin bar candle in an uptrend. 4. Blue triangle: Bullish Pin bar candle in a downtrend. 🔵 Settings Trend Detection Period: A special feature that considers smaller or larger fluctuations. If individual price waves need to be considered, use lower numbers; if the overall trend direction is desired, use larger numbers (e.g., 5-7 or higher). This precisely sets the Zigzag or Pivot format, not displayed but considered in the indicator calculation. Trend Effect : By changing the Trend Effect status to "Off," all Pin bars, whether bullish or bearish, are displayed regardless of the current market trend. If the status remains "On," only Pin bars in the direction of the main market trend are shown. 🟣 Important : Black triangles "Number 3" and blue triangles "Number 4" displayed in the information table section, as explained in the "Information Table" section. Show Bullish Pin Bar : When set to "Yes," displays bullish Pin bars; when set to "No," does not display them. Show Bearish Pin Bar : When set to "Yes," allows the display of bearish Pin bars; when set to "No," does not display them. Bullish Pin Bar Setting : Using the "Ratio Lower Shadow to Body" and "Ratio Lower Shadow to Higher Shadow" settings, you can customize your bullish Pin bar candles. Larger numbers impose stricter conditions for identifying bullish Pin bars. Bearish Pin Bar Setting : Using the "Ratio Higher Shadow to Body" and "Ratio Higher Shadow to Lower Shadow" settings, you can customize your bearish Pin bar candles. Larger numbers impose stricter conditions for identifying bearish Pin bars. Show Info Table : Allows the display or non-display of the information table (located at the bottom of the page and on the right side). 🔵 How to Use At the end of a downtrend, look for "Hammer" candles, easily identified one by one. To identify the "Shooting Star" candle pattern at the end of an uptrend; expect a price reversal in the downtrend. For trades in the downward direction, wait for the formation of an "Inverted Hammer" Pin bar. And finally, in an uptrend, where a "Hanging Man" candle can form. 🔵 Features For better visualization, triangles and circles are used above the candles, but they can be easily removed. All Pin bars are displayed in color with the following meanings: - Black-bodied candle: Inverted Hammer - Turquoise blue candle: Hammer - Pink candle: Hanging Man - Red candle: Shooting Star 🟣 Important : The capability to detect the powerful two-candle pattern "Tweezer Top" at the end of an uptrend emerges by forming two "Shooting Star" candles side by side. Similarly, the two-candle pattern "Tweezer Bottom" is created at the end of a downtrend with the formation of two "Hammer" candles side by side. To identify the "Tweezer" pattern, make sure the settings in the "Trend Effect" section are set to "Off." 🟣 Auxiliary Indicators During the start of trading sessions such as Asia, London, and New York, where the highest liquidity exists, alongside this indicator, you can use the Trading Sessions indicator. Sessions The combination of Order Blocks "-OB" and "+OB" with candles is one of the best trading methods. The indicator that identifies order blocks, along with this indicator, can yield remarkable results in the success of Pin bar candles. Order Blocks Finder The trading toolset "TFlab" presents this indicator. To benefit from all indicators, we invite you to visit our page " TFlab Scripts ".
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TFlab tarafından
2
Candlestick Pattern Criteria and Analysis Indicator█  OVERVIEW Define, then locate the presence of a candle that fits a specific criteria. Run a basic calculation on what happens after such a candle occurs. Here, I’m not giving you an edge, but I’m giving you a clear way to find one. IMPORTANT NOTE: PLEASE READ: THE INDICATOR WILL ALWAYS INITIALLY LOAD WITH A RUNTIME ERROR. WHEN INITIALLY LOADED THERE NO CRITERIA SELECTED. If you do not select a criteria or run a search for a criteria that doesn’t exist, you will get a runtime error. If you want to force the chart to load anyway, enable the debug panel at the bottom of the settings menu. Who this is for: - People who want to engage in TradingView for tedious and challenging data analysis related to candlestick measurement and occurrence rate and signal bar relationships with subsequent bars. People who don’t know but want to figure out what a strong bullish bar or a strong bearish bar is. Who this is not for: - People who want to be told by an indicator what is good or bad or buy or sell. Also, not for people that don’t have any clear idea on what they think is a strong bullish bar or a strong bearish bar and aren’t willing to put in the work. Recommendation: Use on the candle resolution that accurately reflects your typical holding period. If you typically hold a trade for 3 weeks, use 3W candles. If you hold a trade for 3 minutes, use 3m candles. Tldr; Read the tool tips and everything above this line. Let me know any issues that arise or questions you have. █  CONCEPTS Many trading styles indicate that a certain candle construct implies a bearish or bullish future for price. That said, it is also common to add to that idea that the context matters. Of course, this is how you end up with all manner of candlestick patterns accounting for thousands of pages of literature. No matter the context though, we can distill a discretionary trader's decision to take a trade based on one very basic premise: “A trader decides to take a trade on the basis of the rightmost candle's construction and what he/she believes that candle construct implies about the future price.” This indicator vets that trader’s theory in the most basic way possible. It finds the instances of any candle construction and takes a look at what happens on the next bar. This current bar is our “Signal Bar.” █  GUIDE I said that we vet the theory in the most basic way possible. But, in truth, this indicator is very complex as a result of there being thousands of ways to define a ‘strong’ candle. And you get to define things on a very granular level with this indicator. Features: 1. Candle Highlighting When the user’s criteria is met, the candle is highlighted on the chart. The following candle is highlighted based on whether it breaks out, breaks down, or is an inside bar. 2. User-Defined Criteria Criteria that you define include: Candle Type: Bull bars, Bear bars, or both Candle Attributes Average Size based on Standard Deviation or Average of all potential bars in price history Search within a specific price range Search within a specific time range Clarify time range using defined sessions and with or without weekends 3. Strike Lines on Candle Often you want to know how price reacts when it gets back to a certain candle. Also it might be true that candle types cluster in a price region. This can be identified visually by adding lines that extend right on candles that fit the criteria. 4. User-Defined Context Labeled “Alternative Criteria,” this facet of the script allows the user to take the context provided from another indicator and import it into the indicator to use as a overriding criteria. To account for the fact that the external indicator must be imported as a float value, true (criteria of external indicator is met) must be imported as 1 and false (criteria of external indicator is not met) as 0. Basically a binary Boolean. This can be used to create context, such as in the case of a traditional fractal, or can be used to pair with other signals. If you know how to code in Pinescript, you can save a copy and simply add your own code to the section indicated in the code and set your bull and bear variables accordingly and the code should compile just fine with no further editing needed. Included with the script to maximize out-of-the-box functionality, there is preloaded as alternative criteria a code snippet. The criteria is met on the bull side when the current candle close breaks out above the prior candle high. The bear criteria is met when the close breaks below the prior candle. When Alternate Criteria is run by itself, this is the only criteria set and bars are highlighted when it is true. You can qualify these candles by adding additional attributes that you think would fit well. Using Alternative Criteria, you are essentially setting a filter for the rest of the criteria. 5. Extensive Read Out in the Data Window (right side bar pop out window). As you can see in the thumbnail, there is pasted a copy of the Data Window Dialogue. I am doubtful I can get the thumbnail to load up perfectly aligned. Its hard to get all these data points in here. It may be better suited for a table at this point. Let me know what you think. The primary, but not exclusive, purpose of what is in the Data Window is to talk about how often your criteria happens and what happens on the next bar. There are a lot of pieces to this. Red = Values pertaining to the size of the current bar only Blue = Values pertaining or related to the total number of signals Green = Values pertaining to the signal bars themselves, including their measurements Purple = Values pertaining to bullish bars that happen after the signal bar Fuchsia = Values pertaining to bearish bars that happen after the signal bar Lime = Last four rows which are your percentage occurrence vs total signals percentages The best way I can explain how to understand parts you don’t understand otherwise in the data window is search the title of the row in the code using ‘ctrl+f’ and look at it and see if it makes more sense. █ [b}Available Candle Attributes Candle attributes can be used in any combination. They include: [*}Bodies [*}High/Low Range [*}Upper Wick [*}Lower Wick [*}Average Size [*}Alternative Criteria Criteria will evaluate each attribute independently. If none is set for a particular attribute it is bypassed. Criteria Quantity can be in Ticks, Points, or Percentage. For percentage keep in mind if using anything involving the candle range will not work well with percentage. Criteria Operators are “Greater Than,” “Less Than,” and “Threshold.” Threshold means within a range of two numbers. █ Problems with this methodology and opportunities for future development: #1 This kind of work is hard. If you know what you’re doing you might be able to find success changing out the inputs for loops and logging results in arrays or matrices, but to manually go through and test various criteria is a lot of work. However, it is rewarding. At the time of publication in early Oct 2022, you will quickly find that you get MUCH more follow through on bear bars than bull bars. That should be obvious because we’re in the middle of a bear market, but you can still work with the parameters and contextual inputs to determine what maximizes your probability. I’ve found configurations that yield 70% probability across the full series of bars. That’s an edge. That means that 70% of the time, when this criteria is met, the next bar puts you in profit. #2 The script is VERY heavy. Takes an eternity to load. But, give it a break, it’s doing a heck of a lot! There is 10 unique arrays in here and a loop that is a bit heavy but gives us the debug window. #3 If you don’t have a clear idea its hard to know where to start. There are a lot of levers to pull on in this script. Knowing which ones are useful and meaningful is very challenging. Combine that with long load times… its not great. #4 Your brain is the only thing that can optimize your results because the criteria come from your mind. Machine learning would be much more useful here, but for now, you are the machine. Learn. #5 You can’t save your settings. So, when you find a good combo, you’ll have to write it down elsewhere for future reference. It would be nice if we could save templates on custom indicators like we can on some of the built in drawing tools, but I’ve had no success in that. So, I recommend screenshotting your settings and saving them in Notion.so or some other solid record keeping database. Then you can go back and retrieve those settings. #6 no way to export these results into conditions that can be copy/pasted into another script. Copy/Paste of labels or tables would be the best feature ever at this point. Because you could take the criteria and put it in a label, copy it and drop it into another strategy script or something. But… men can dream. █ Opportunities to PineCoders Learn: 1. In this script I’m importing libraries, showing some of my libraries functionality. Hopefully that gives you some ideas on how to use them too. The price displacement library (which I love!) Creative and conventional ways of using debug() how to display arrays and matrices on charts I didn’t call in the library that holds the backtesting function. But, also demonstrating, you can always pull the library up and just copy/paste the function out of there and into your script. That’s fine to do a lot of the time. 2. I am using REALLY complicated logic in this script (at least for me). I included extensive descriptions of this ? : logic in the text of the script. I also did my best to bracket () my logic groups to demonstrate how they fit together, both for you and my future self. 3. The breakout, built-in, “alternative criteria” is actually a small bit of genius built in there if you want to take the time to understand that block of code and think about some of the larger implications of the method deployed. As always, a big thank you to TradingView and the Pinescript community, the Pinescript pros who have mentored me, and all of you who I am privileged to help in their Pinescripting journey. "Those who stay will become champions" - Bo Schembechler
Pine Script® göstergesi
kurtsmock tarafından
6
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® göstergesi
algo_aakash tarafından
Candlestick - Kicker PatternNot many candlestick patterns hurt traders on the other side of the trade more than this signal, when it happens, think of it as kicking in the teeth, the pain is real. An upwards signal is painted when you have a two-bar formation, the one on the left is a bearish one whereas the successive one is bullish, when you have fat bodies in both candles, meaning the open is close to the high and the close is close to the low for the first candle, while the open is close to the low and the close is close to the high for the adjacent candle, the pain is ever more excruciating, the other important condition is the open of the first candle must be lower than the open of the latter one. The downwards signal is vice versa of the upwards signal.
Pine Script® göstergesi
FxCloudTrader tarafından
1
Candlesticks ANN for Stock Markets TF : 1WHello, this script consists of training candlesticks with Artificial Neural Networks (ANN). In addition to the first series, candlesticks' bodies and wicks were also introduced as training inputs. The inputs are individually trained to find the relationship between the subsequent historical value of all candlestick values ​​1.(High,Low,Close,Open) The outputs are adapted to the current values ​​with a simple forecast code. Once the OHLC value is found, the exponential moving averages of 5 and 20 periods are used. Reminder : OHLC = (Open + High + Close + Low ) / 4 First version : Script is designed for S&P 500 Indices,Funds,ETFs, especially S&P 500 Stocks,and for all liquid Stocks all around the World. NOTE: This script is only suitable for 1W time-frame for Stocks. The average training error rates are less than 5 per thousand for each candlestick variable. (Average Error < 0.005 ) I've just finished it and haven't tested it in detail. So let's use it carefully as a supporter. Best regards !
Pine Script® göstergesi
Noldo tarafından
2
Candlestick Pattern Detector - Vijay PrasadOverview: This Pine Script v6 indicator is designed to detect and label key candlestick patterns on TradingView charts. It provides real-time visual markers for major bullish and bearish reversal signals, aiding traders in decision-making. Usefulness: ✅ Saves time by automating candlestick pattern detection. ✅ Reduces manual chart analysis errors. ✅ Works across all markets & timeframes. ✅ Enhances trading strategies with accurate signals. Candlestick Patterns Recognises: Bullish Engulfing – A strong bullish reversal pattern. Bearish Engulfing – Indicates a potential downtrend. Hammer – Suggests a market bottom or reversal. Shooting Star – A bearish reversal signal at the top of an uptrend. Doji – Signals market indecision and possible trend change. Key Functions: Automated Pattern Visible Identifies candlestick patterns dynamically and plots them on the chart. Visual Labels for Patterns Labels to indicate specific candlestick formations. Labels appear only when a valid pattern is detected, avoiding unnecessary clutter. Buy/Sell Signal Plots buy signals at bullish patterns and sell signals at bearish patterns. Helps traders recognize trend reversals and entry/exit points. Bullish Engulfing Pattern (Green Label) What it means: A bullish engulfing pattern typically signals a potential reversal from a downtrend to an uptrend. The current candle fully engulfs the previous candle, signaling strong buying interest. Identifying Candlestick Patterns on the Chart How to use it: Entry: Look for a green label (bullish engulfing) at the bottom of the chart. When it appears, consider entering a long position (buy). Confirmation: To increase reliability, wait for confirmation by observing if price moves above the high of the bullish engulfing candle. Exit: Exit when the trend shows signs of reversing or take profit at predefined levels (e.g., resistance or a risk-to-reward ratio). Bearish Engulfing Pattern (Red Label) What it means: A bearish engulfing pattern is a signal of a potential reversal from an uptrend to a downtrend. The current candle fully engulfs the previous candle, signaling strong selling pressure. How to use it: Entry: Look for a red label (bearish engulfing) at the top of the chart. When it appears, consider entering a short position (sell). Confirmation: Wait for the price to move below the low of the bearish engulfing candle to confirm the bearish trend. Exit: Close the trade when the price reaches support levels or the trend shows signs of reversing. Doji Pattern (Blue Circle) What it means: A Doji candle signals market indecision. It represents a balance between buyers and sellers, often marking a potential reversal or consolidation point. How to use it: Entry: If the Doji appears after a strong trend (bullish or bearish), wait for the next candle to break above or below the Doji's high or low. This can signal a continuation or reversal. Confirmation: You can look for additional indicators like moving averages, RSI, or MACD for confirmation before taking any action. Exit: Exit when the price shows clear momentum in your entry direction. Hammer Pattern (Orange Triangle) What it means: The hammer pattern is a bullish reversal pattern that appears after a downtrend. It suggests that sellers pushed the price down during the session, but buyers managed to push the price back up. How to use it: Entry: When a hammer appears, consider entering a long position (buy). The price should move above the hammer's high for confirmation. Confirmation: Look for strong volume and a follow-up bullish candle to confirm the reversal. Exit: Set a target based on the next resistance level, or use a trailing stop to lock in profits. Using Candlestick Patterns with Other Indicators To increase your chances of success, combine candlestick patterns with other technical indicators. Here are some ideas: RSI (Relative Strength Index): Use RSI to check whether the market is overbought or oversold. A bullish engulfing in an oversold market could indicate a stronger buy signal, and a bearish engulfing in an overbought market could indicate a stronger sell signal. Moving Averages (e.g., 50 EMA, 200 EMA): Confirm trend direction. If the candlestick pattern aligns with the direction of the moving averages, it can give a stronger signal. MACD (Moving Average Convergence Divergence): Use MACD to confirm momentum and potential trend changes. If a candlestick pattern aligns with a MACD crossover, it strengthens the signal. Volume: Look for higher-than-average volume when a pattern appears. This can give you additional confirmation that the market is reacting strongly. Practice and Refine It's important to practice using the candlestick patterns in a demo account or backtest them to see how they perform under different market conditions. Over time, you can adjust the settings and patterns to fit your trading style and preferences.
Pine Script® göstergesi
thanksbima tarafından
1
Candlestick Patterns detection and backtester [TrendX_]INTRODUCTION: The Candlestick Patterns detection and backtester is designed to empower traders by identifying and analyzing candlestick patterns. Leveraging the robust Pine Script's add-in “All Candlestick Patterns”, this indicator meticulously scans the market for candlestick formations, offering insights into potential market movements. With its backtesting capabilities, we evaluate historical data to present traders with performance metrics such as win rates, net profit, and profit factors for each pattern. This allows traders to make informed decisions based on empirical evidence. The customizable settings, including trend filters and exit conditions, provide a tailored experience, adapting to various trading styles and strategies. CREDIT: This indicator is powered by the Pinescript add-in, *All Candlestick Patterns*, which provides a comprehensive library of candlestick formations. TABLE USAGE: The indicator features a detailed usage table that presents backtested results of all candlestick patterns. This includes: Win Rates: The percentage of trades that resulted in a profit. Net Profit: The total profit after subtracting losses from gains. Profit Factor: A measure of the indicator’s profitability (gross profit / gross loss). Total Trades: The total number of trades taken for every candlestick pattern's appearance. CHART CANDLESTICK USAGE: The indicator integrates candlestick pattern detections directly into the chart, displaying: Pattern Detections: Each detected pattern is marked on the chart. Win Rates: The win rate of each pattern is shown in brackets next to the detection. CHART SETTINGS: Users can customize the indicator with a variety of trend filters and settings: Trend Filters: Apply filters based on SMA50, SMA200, Supertrend, and RSI threshold to refine pattern detections. Exit Condition: Set an exit condition based on the crossing of a simple moving average of customizable length. Visibility: Choose to show or hide the candlestick patterns’ detections on the chart.
Pine Script® göstergesi
TrendX_ tarafından
11