LuxAlgo

Master Pattern [LuxAlgo]

The Master Pattern indicator is derived from the framework proposed by Wyckoff and automatically displays major/minor patterns and their associated expansion lines on the chart.

Liquidity levels are also included and can be used as targets/stops. Note that the Liquidity levels are plotted retrospectively as they are based on pivots.

🔶 USAGE


The Master Pattern indicator detects contraction phases in the markets (characterized by a lower high and higher low). The resulting average from the latest swing high/low is used as expansion line. Price breaking the contraction range upwards highlights a bullish master pattern, while a break downward highlights a bearish master pattern.


During the expansion phase price can tend to be stationary around the expansion level. This phase is then often followed by the price significantly deviating from the expansion line, highlighting a markup phase.


Expansion lines can also be used as support/resistance levels.

🔹 Major/Minor Patterns

The script can classify patterns as major or minor patterns.


Major patterns occur when price breaks both the upper and lower extremity of a contraction range, with their contraction area highlighted with a border, while minor patterns have only a single extremity broken.

🔶 SETTINGS

  • Contraction Detection Lookback: Lookback used to detect the swing points used to detect the contraction range.
  • Liquidity Levels: Lookback for the swing points detection used as liquidity levels. Higher values return longer term liquidity levels.
  • Show Major Pattern: Display major patterns.
  • Show Minor Pattern: Display minor patterns.

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All scripts & content provided by LuxAlgo are for informational & educational purposes only. Past performance does not guarantee future results.
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.

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