OPEN-SOURCE SCRIPT
4-Bar Reversal Pattern
📌 Title:
4-Bar Reversal Pattern — Multi-Candle Signal Detector
📄 Description:
The 4-Bar Reversal Pattern indicator is a powerful price action tool designed to detect significant market reversal signals based solely on candle structure — no moving averages or indicators involved.
🔍 What it does:
Identifies a unique 4-candle reversal setup:
Long Setup: After 3 consecutive bearish candles, a bullish candle breaks the range (higher high + lower low than the previous bar).
Short Setup: After 3 consecutive bullish candles, a bearish candle breaks the range (lower low + higher high than the previous bar).
Confirms signals only when the current candle closes, increasing signal reliability.
Displays visual labels ("BUY"/"SELL") directly on the chart.
Triggers alerts for long and short setups.
Includes a generic alert option to notify whenever any signal is detected (can be toggled on/off).
⚙️ Customizable Inputs:
Enable/disable generic alert
This indicator is ideal for:
Traders looking for clean, mechanical setups
Price action enthusiasts
Those who trade without lagging indicators
Use it on any timeframe, and combine it with your own filters (RSI, support/resistance, etc.) to refine entries.
Indicator born following the viewing of the following video:
youtube.com/watch?v=B8AKwSfpsHQ
4-Bar Reversal Pattern — Multi-Candle Signal Detector
📄 Description:
The 4-Bar Reversal Pattern indicator is a powerful price action tool designed to detect significant market reversal signals based solely on candle structure — no moving averages or indicators involved.
🔍 What it does:
Identifies a unique 4-candle reversal setup:
Long Setup: After 3 consecutive bearish candles, a bullish candle breaks the range (higher high + lower low than the previous bar).
Short Setup: After 3 consecutive bullish candles, a bearish candle breaks the range (lower low + higher high than the previous bar).
Confirms signals only when the current candle closes, increasing signal reliability.
Displays visual labels ("BUY"/"SELL") directly on the chart.
Triggers alerts for long and short setups.
Includes a generic alert option to notify whenever any signal is detected (can be toggled on/off).
⚙️ Customizable Inputs:
Enable/disable generic alert
This indicator is ideal for:
Traders looking for clean, mechanical setups
Price action enthusiasts
Those who trade without lagging indicators
Use it on any timeframe, and combine it with your own filters (RSI, support/resistance, etc.) to refine entries.
Indicator born following the viewing of the following video:
youtube.com/watch?v=B8AKwSfpsHQ
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
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.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
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.