[Top] Multi-Candle Pattern Detector

7 giorni fa

The [Top] Multi-Candle Pattern Detector is a powerful tool that scans for a wide variety of high-probability candlestick formations directly on the chart. It highlights key multi-bar reversal and continuation patterns using intuitive emoji-based labels and descriptive tooltips, helping traders quickly assess market conditions and potential setups.

Supported patterns include:

• Bullish & Bearish Engulfing
  
• Morning Star / Evening Star
  
• Three Line Strike
  
• Rising / Falling Three Methods
  
• Hammer / Inverted Hammer / Hanging Man / Gravestone Doji
  

To reduce false signals, this script includes a built-in trend filter using a custom LHAMA (Low-High Adaptive Moving Average) calculation. Patterns are only displayed when recent price action is not flat, helping traders avoid entries during consolidation.

Users can toggle each pattern type individually, making the script adaptable for various strategies and timeframes.

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Potential Uses

• Reversal Spotting: Identify key inflection points at the end of trends.
  
• Continuation Confirmation: Confirm trend strength following brief pauses in momentum.
  
• Price Action Training: Visually reinforce recognition of textbook candlestick patterns.
  
• Strategy Integration: Combine with trend or volume filters for more advanced rule-based systems.
  

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This indicator is suitable for traders who rely on price action and candlestick psychology, and is useful across all asset classes and chart intervals.

6 giorni fa

Note di rilascio

• Fixed a bug where all signals would be filtered out of symbols with very small tick increments.
  
• Added the option to only show the last N signals so that your charts don't get overcrowded when zooming out.