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Fibonacci Candlestick - AYNETHow It Works Inputs: ltf_timeframe: Specify the timeframe for candlestick data (e.g., 1H, 4H). Fibonacci Levels: Toggle Fibonacci level visibility (show_fib_levels). Customize Fibonacci line color (fib_color) and width (fib_width). Candlestick Data: Fetches open, high, low, and close prices for the specified timeframe using request.security. Fibonacci Levels: Calculates standard Fibonacci retracement levels (0.0, 23.6%, 38.2%, 50%, 61.8%, 78.6%, 100%) for each candle's high-low range. Draws horizontal lines for each level using line.new. Candlestick Visualization: Plots lower timeframe candles with customizable bullish and bearish colors. Key Features Dynamic Fibonacci Levels: Fibonacci levels are recalculated for each candlestick's high-low range. Levels update dynamically with new candles. Candlestick Overlay: Visualizes candlestick data from the specified timeframe directly on the current chart. Customizable Appearance: Configure colors for Fibonacci levels, candlestick bodies, and wicks. Use Cases Microstructure Analysis: Analyze individual candlesticks with their Fibonacci retracements for potential support/resistance zones. Multi-Timeframe Trading: Overlay candlestick and Fibonacci data from a lower timeframe onto a higher timeframe chart. Let me know if you'd like further enhancements or explanations! 😊
Indicatore Pine Script®
di Aynet-London
Weekend Filter Candlestick [odnac]Custom Candlestick Chart with Weekend Visibility Toggle This indicator customizes the appearance of candlesticks by using a dark gray theme for better visibility. Additionally, it provides an option to hide weekend candles, allowing traders to focus on weekday price action. Features: ✅ Dark gray candlestick design for a clean and minimalistic look. ✅ Weekend hiding option – Users can enable or disable weekend candles with a simple toggle. ✅ Helps traders avoid weekend noise and focus on key market movements. How to Use: Add the indicator to your chart. Use the "Hide Weekend Candles" setting to toggle weekend visibility. When enabled, weekend candles will be hidden for a cleaner chart. When disabled, all candles, including weekends, will be displayed. This indicator is useful for traders who prefer to analyze weekday trends without unnecessary weekend fluctuations. 🚀
Indicatore Pine Script®
di odnac
200 MAPD - Relative Price with candlesticks and divergenceThis is a MAPD (moving average percent difference) indicator that plots the results in candlestick format and with an option to show divergencies of a specific look back period. It's built with 200 moving average, which cannot be adjusted. A divergence is when the actual asset price moves in the opposite direction than the MAPD. MAPD measures the percent difference of the asset price from the moving average, in this case, 200 moving average. MAPD is my favorite indicator because it's an leading indicator, capable of predicting upcoming directions pretty accurately if you learn how to use it and how it works on your specific asset. With candlesticks instead of line you can also apply your own price action techniques. I created this to be somewhat of a substitute for the actual price of the asset, meaning that price action analysis should be applied on this indicator and asset price is used as a secondary to spot divergencies. The chart showing on this description is my own discretionary plotting of technical aspects. Divergencies will be enabled per default, but my preference is to have them off and plot my own analysis. And turn them on to get an overview from time to time. You can also change the look back period for the divergencies as you like. I would say it works best from 1 hour to 1 day, maybe 1 week if you're bottom fishing in a big bear trend. If you try it out and like it i would love to hear how you find it useful in the comments, will be helpful for me and others :)
Indicatore Pine Script®
di Mohinder92
Strategy: Candlestick Wick Analysis with Volume Conditions This strategy focuses on analyzing the wicks (or shadows) of candlesticks to identify potential trading opportunities based on candlestick structure and volume. Based on these criteria, it places stop orders at the extremities of the wicks when certain conditions are met, thus increasing the chances of capturing significant price movements. Trading Criteria Volume Conditions: The strategy checks if the volume of the current candle is higher than that of the previous three candles. This ensures that the observed price movement is supported by significant volume, increasing the probability that the price will continue in the same direction. Wick Analysis: Upper Wick: If the upper wick of a candle represents more than 90% of its body size and is longer than the lower wick, this indicates that the price tested a resistance level before pulling back. Order Placement: In this case, a Buy Stop order is placed at the upper extremity of the wick. This means that if the price rises back to this level, the order will be triggered, and the trader will take a buy position. SL Management: A stop-loss is then placed below the lowest point of the same candle. This protects the trader by limiting losses if the price falls back after the order is triggered. Lower Wick: If the lower wick of a candle is longer than the upper wick and represents more than 90% of its body size, this indicates that the price tested a support level before rising. Order Placement: In this case, a Sell Stop order is placed at the lower extremity of the wick. Thus, if the price drops back to this level, the order will be triggered, and the trader will take a sell position. SL Management: A stop-loss is then placed above the highest point of the same candle. This ensures risk management by limiting losses if the price rebounds upward after the order is triggered. Strategy Advantages Responsiveness to Price Movements: The strategy is designed to detect significant price movements based on the market's reaction around support and resistance levels. By placing stop orders directly at the wick extremities, it allows capturing strong movements in the direction indicated by the candles. Securing Positions: Using stop-losses positioned just above or below key levels (wicks) provides better risk management. If the market doesn't move as expected, the position is automatically closed with a limited loss. Clear Visual Indicators: Symbols are displayed on the chart at the points where orders have been placed, making it easier to understand trading decisions. This helps to quickly identify the support or resistance levels tested by the price, as well as potential entry points. Conclusion The strategy is based on the idea that large wicks signal areas where buyers or sellers have tested significant price levels before temporarily retreating. By placing stop orders at the extremities of these wicks, the strategy allows capturing price movements when they confirm, while limiting risks through strategically placed stop-losses. It thus offers a balanced approach between capturing potential profit and managing risk. This description emphasizes the idea of capturing significant market movements with stop orders while providing a clear explanation of the logic and risk management. It’s tailored for publication on TradingView and highlights the robustness of the strategy.
Indicatore Pine Script®
di imane-academy
Candlestick Trailing AllocationA simple indicator that calculates the sum of 'Up'(green), 'Down'(red), and 'Doji'(near Doji) candlesticks and portrays the same in an allocation format in percentage. And since it is allocation-based, the total will never exceed 100% of the defined Length period. The equation is Green + Red + Doji = Total Candles; where total candles = length When calculating the allocation part, the doji candles are subtracted from the sum of green and red, and the new value is divided by the length period. For example, the green line = (sum of all green candles - doji / 2) / length; the reason to divide doji by 2 is to eliminate the redundancy it can cause. When the green line crosses above the red line, the number of green candles is more than red in the defined length period. Similarly, when the red line crossed above the green, there were more red candles than green in that period. The Doji line shows if any doji or near doji candles have appeared. It acts as a form of resistance against the green and red candles. There's also the option to change the value of the doji's weight. Default is at 0.1. The indicator does not show trend nor momentum, even though it may replicate some of its behavior from time to time. It is purely showing the allocation of the number of candles classified as green, red, and doji within the length provided.
Indicatore Pine Script®
di maksumit
2
Candlestick Structure [LuxAlgo]The Candlestick Structure indicator detects major market trends and displays various candlestick patterns aligning with the detected trend, filtering out potentially unwanted patterns as a result. Multiple trend detection methods are included and can be selected by the users. A dashboard showing the alignment percentage of each individual pattern is also provided. 🔶 USAGE By distinguishing major and minor trend detection, we can still detect patterns based on minor trends, yet filter out the patterns that do not align with the major trend. By detecting candlestick patterns that align with a major trend, we can effectively detect the ending points of retracements, potentially providing various entry points of interest within a trend. Users are able to track the alignment of each candlestick pattern in the dashboard to reveal which patterns typically align with the trend and which may not. Note: Alignment % only checks if the pattern's direction is the same as the current trend direction. These are only raw readings and not any type of confidence score. 🔶 DETAILS In this indicator, we are identifying and tracking 16 different Candlestick Patterns. 🔹 Bullish Patterns Hammer: Identified by a small upper wick (or no upper wick) with a small body, and an elongated lower wick whose length is 2X greater than the candle body’s width. Inverted Hammer: Identified by a small lower wick (or no lower wick) with a small body, and an elongated upper wick whose length is 2X greater than the candle body’s width. Bullish Engulfing: A 2 bar pattern identified by a large bullish candle body fully encapsulating (opening lower and closing higher) the previous small (bearish) candle body. Rising 3: A 5 bar pattern identified by an initial full-bodied bullish candle, followed by 3 bearish candles that trade within the high and low of the initial candle, followed by another full-bodied bullish candle closing above the high of the initial candle. 3 White Soldiers: Identified by 3 full-bodied bullish candles, each opening within the body and closing below the high, of the previous candle. Morning Star: A 3 bar pattern identified by a full-bodied bearish candle, followed by a small-bodied bearish candle, followed by a full-bodied bullish candle that closes above the halfway point of the first candle. Bullish Harami: A 2 bar pattern, identified by an initial bearish candle, followed by a small bullish candle whose range is entirely contained within the body of the initial candle. Tweezer Bottom: A 2 bar pattern identified by an initial bearish candle, followed by a bullish candle, both having equal lows. 🔹 Bearish Patterns Hanging Man: Identified by a small upper wick (or no upper wick) with a small body, and an elongated lower wick whose length is 2X greater than the candle body’s width. Shooting Star: Identified by a small lower wick (or no lower wick) with a small body, and an elongated upper wick whose length is 2X greater than the candle body’s width. Bearish Engulfing: A 2 bar pattern identified by a large bearish candle body fully encapsulating (opening higher and closing lower) the previous small (bullish) candle body. Falling 3: A 5 bar pattern identified by an initial full-bodied bearish candle, followed by 3 bullish candles that trade within the high and low of the initial candle, followed by another full-bodied bearish candle closing below the low of the initial candle. 3 Black Crows: Identified by 3 full-bodied bearish candles, each open within the body and closing below the low, of the previous candle. Evening Star: A 3 bar pattern identified by a full-bodied bullish candle, followed by a small-bodied bullish candle, followed by a full-bodied bearish candle that closes below the halfway point of the first candle. Bearish Harami: A 2 bar pattern, identified by an initial bullish candle, followed by a small bearish candle whose range is entirely contained within the body of the initial candle. Tweezer Top: A 2 bar pattern identified by an initial bullish candle, followed by a bearish candle, both having equal highs. 🔹 Trend Types Major trend is displayed at all times, the display will change depending on the trend method selected. The minor trend can also be visualized; to avoid confusion, the minor trend can optionally be displayed through the candle colors. Supertrend: Displays Upper and Lower SuperTrend, When we break above the upper, it is considered an Uptrend. When we break below the lower, it is considered a Downtrend. EMAs: Displays Fast and Slow EMAs, When Fast>Slow, it is considered an Uptrend. When Fast<Slow, it is considered a Downtrend. ChoCh: Displays ChoCh Lines and Labels, When a Bullish ChoCh occurs, it is now considered as an Uptrend. When a Bearish ChoCh occurs, it is now considered a Downtrend. Donchian Channel: Displays the Highest and Lowest Values, When we break above the Highest, it is considered an Uptrend. When we break below the Lowest, it is considered a Downtrend. Below is an example of the Change of Character (ChoCh) method of trend detection. Note: In this description, each screenshot has a different trend method in use, scroll through if you are looking for a specific one. 🔶 SETTINGS Candlestick Patterns: Choose which candlestick patterns to include in calculations. Minor Trend Length: Determines the Donchian Channel length to use for minor trend identification. Major Trend Method: Determines which trend method to use for identifying Major Trend. Major Trend Parameters: Various inputs for controlling Major trends, depending on the specific method you have selected. Color Candles: Colors the chart candles based on minor trend. Dashboard: Control display size and location of Alignment Dashboard.
Indicatore Pine Script®
di LuxAlgo
15
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.
Indicatore Pine Script®
di Dipak_Patil_
19
Engulfing Candlestick StrategyEver wondered whether the Bullish or Bearish Engulfing pattern works or has statistical significance? This script is for you. It works across all markets and timeframes. The Engulfing Candlestick Pattern is a widely used technical analysis pattern that traders use to predict potential price reversals. It consists of two candles: a small candle followed by a larger one that "engulfs" the previous candle. This pattern is considered bullish when it occurs in a downtrend (bullish engulfing) and bearish when it occurs in an uptrend (bearish engulfing). Statistical Significance of the Engulfing Pattern: While many traders rely on candlestick patterns for making decisions, research on the statistical significance of these patterns has produced mixed results. A study by Dimitrios K. Koutoupis and K. M. Koutoupis (2014), titled "Testing the Effectiveness of Candlestick Chart Patterns in Forex Markets," indicates that candlestick patterns, including the engulfing pattern, can provide some predictive power, but their success largely depends on the market conditions and timeframe used. The researchers concluded that while some candlestick patterns can be useful, traders must combine them with other indicators or market knowledge to improve their predictive accuracy. Another study by Brock, Lakonishok, and LeBaron (1992), "Simple Technical Trading Rules and the Stochastic Properties of Stock Returns," explores the profitability of technical indicators, including candlestick patterns, and finds that simple trading rules, such as those based on moving averages or candlestick patterns, can occasionally outperform a random walk in certain market conditions. However, Jorion (1997), in his work "The Risk of Speculation: The Case of Technical Analysis," warns that the reliability of candlestick patterns, including the engulfing patterns, can vary significantly across different markets and periods. Therefore, it's important to use these patterns as part of a broader trading strategy that includes other risk management techniques and technical indicators. Application Across Markets: This script applies to all markets (e.g., stocks, commodities, forex) and timeframes, making it a versatile tool for traders seeking to explore the statistical effectiveness of the bullish and bearish engulfing patterns in their own trading. Conclusion: This script allows you to backtest and visualize the effectiveness of the Bullish and Bearish Engulfing patterns across any market and timeframe. While the statistical significance of these patterns may vary, the script provides a clear framework for evaluating their performance in real-time trading conditions. Always remember to combine such patterns with other risk management strategies and indicators to enhance their predictive power.
Strategia Pine Script®
di EdgeTools
Candlestick Strength and Volatility ReadoutDisplays a readout on the top right corner of the screen displaying a two basic calculations (volatility and strength; i.e. candlestick size and how close to the highs or lows it closed) for more convenient candlestick (price action) analysis. Due to restrictions with Pine Script (or my knowledge thereof) only the current and previous candlestick data is shown, rather than the one currently hovered over. The data is derived via two simple calculations; volatility being division between the range of the candlestick's high and low by the ATR; 'strength' (what I like to call it) being the range of the body by the range of the open to high or low, depending on the facing direction (positive or negative candlestick). These are expressed as percentages and will turn green depending on the set threshold. Using this, one can effectively automate calculations you'd have to do by hand otherwise. I personally use these as entry filters in my trading, so it helps to not have to measure, remeasure, and divide before each potential entry. Settings are implemented to change certain variables to your liking.
Indicatore Pine Script®
di Zachx_618
Candlestick Reversal SignalsTitle: Candlestick Reversal Signals This Pine Script indicator is designed to identify and plot signals for two key candlestick reversal patterns: Bullish and Bearish Engulfing patterns, as well as Bullish and Bearish Harami patterns. These patterns are widely recognized for their ability to indicate potential trend reversals in the market, providing traders with valuable insights for making informed trading decisions. Features: • Bullish Engulfing Pattern: • Conditions: This pattern is identified when the current candle’s close is higher than the previous candle’s open, and the current candle’s open is lower than the previous candle’s close. Additionally, the current candle’s close must be higher than the previous candle’s close, and the current candle’s open must be lower than the previous candle’s open. • Signal: When a Bullish Engulfing pattern is detected, a green label is plotted below the relevant bar, indicating a potential upward reversal. • Bearish Engulfing Pattern: • Conditions: This pattern is identified when the current candle’s close is lower than the previous candle’s open, and the current candle’s open is higher than the previous candle’s close. Additionally, the current candle’s close must be lower than the previous candle’s close, and the current candle’s open must be higher than the previous candle’s open. • Signal: When a Bearish Engulfing pattern is detected, a red label is plotted above the relevant bar, indicating a potential downward reversal. • Bullish Harami Pattern: • Conditions: This pattern is identified when the previous candle is a bearish candle (open higher than close), and the current candle is a bullish candle (close higher than open) that is contained within the body of the previous bearish candle. • Signal: When a Bullish Harami pattern is detected, a green label is plotted below the relevant bar, indicating a potential upward reversal. • Bearish Harami Pattern: • Conditions: This pattern is identified when the previous candle is a bullish candle (open lower than close), and the current candle is a bearish candle (close lower than open) that is contained within the body of the previous bullish candle. • Signal: When a Bearish Harami pattern is detected, a red label is plotted above the relevant bar, indicating a potential downward reversal. Usage: To use this script, simply add it to your TradingView chart. The script will automatically highlight the Bullish and Bearish Engulfing patterns, as well as Bullish and Bearish Harami patterns, by plotting green and red labels on the chart. These visual signals make it easy to spot potential reversal points, helping traders to identify and capitalize on trading opportunities. Example: • When you see a green “Bullish Engulfing” label below a candlestick, it suggests that the market might reverse upwards, signaling a potential buy opportunity. • Conversely, a red “Bearish Engulfing” label above a candlestick suggests a potential downward reversal, signaling a potential sell opportunity. • A green “Bullish Harami” label below a candlestick also indicates a potential upward reversal. • A red “Bearish Harami” label above a candlestick indicates a potential downward reversal. This indicator is a valuable addition to any trader’s technical analysis toolkit, providing clear and actionable signals based on well-established candlestick patterns. By incorporating these reversal patterns into your analysis, you can enhance your trading strategy and improve your decision-making process.
Indicatore Pine Script®
di kiwamino
BH - Candlestick Pattern DetectionThis is a script to help the beginners locate the candle patterns. It has a nice code that can be used in other scripts too. Easy to use with separated functions, simple patterns and complex patterns detections. I have done some updates at the Candlestick Patterns Identified script by @repo32. Was a good start of my ideia. Tks for sharing repo. It will be always under constant development but I want to share this first version to know what can be done to get better, improve, get more desired patterns, know what are you guys using that could be helpful. I still need to check if all patterns are correct. Any comments, help and suggestions will be appreciated. Marcos Issler @ Isslerman
Indicatore Pine Script®
di isslerman
2
Volume-Enhanced Candlestick Patterns 1 Overview Scans for four major candlestick reversal patterns: Harami Engulfing Morning/Evening Star Piercing Line/Dark Cloud Cover Underlying logic assumes that, at a turning point, the dominant side (bulls or bears) often delivers a “final” push—either a last surge of buying or selling—before the reversal truly takes hold. Pattern Toggles Each individual pattern can be turned on or off in the inputs. Enable only the patterns you want to monitor to reduce chart clutter and speed up performance. Volume Filter Toggle On: Requires volume-based exhaustion or climax to confirm each pattern. Off: Relies purely on price-action candlestick logic (no volume checks). Grouped Labels & Confluence When one or more patterns trigger on the same bar close, a single label is drawn: Grouping multiple confirmed patterns on one bar increases confluence and signal strength. Climax Volume × Multiplier Adjusting this input affects signal frequency and conviction: Higher multiplier → fewer signals but with stronger volume confirmation Lower multiplier → more signals, each with a looser volume requirement Alerts Built-in alert condition for each individual pattern (bullish/bearish Harami, Engulfing, Star, Piercing, Dark Cloud Cover), so you can receive real-time notifications whenever a confirmation occurs. Follow for Weekly Scripts If you find this helpful, please hit Follow and 🚀button —I release a new scripts every week. Disclaimer Not Financial Advice. This script is for educational and research purposes only. Use as Part of a Larger System. It should not be used in isolation; combine it with your own risk management rules, additional indicators, and broader market analysis. No Guarantees. Candlestick patterns and volume filters can improve signal quality, but they do not guarantee profitable trades. Always perform your own due diligence before entering any position.
Indicatore Pine Script®
di Alex_Algo
IU Three Line Strike Candlestick PatternIU Three Line Strike Candlestick Pattern This indicator identifies the Three Line Strike candlestick pattern — a rare yet powerful 4-bar reversal setup that captures exhaustion and momentum shifts at the end of strong trends. Pattern Logic: The Three Line Strike is a 4-candle pattern that typically signals a sharp reversal after a sustained directional move. This script detects both bullish and bearish variations using strict criteria to ensure accuracy. Bullish Three Line Strike: * Previous three candles must be bearish (red) * Each of these candles must close progressively lower (indicating a strong downtrend) * The current candle must: * Be bullish (green) * Open below the prior close * Completely engulf the previous three candles by closing above the first candle's open * And make a higher high than the last 3 bars — confirming a strong reversal * Once confirmed, a green shaded box is drawn around the 4-bar zone to highlight the pattern Bearish Three Line Strike: * Previous three candles must be bullish (green) * Each must close progressively higher (indicating a strong uptrend) * The current candle must: * Be bearish (red) * Open above the prior close * Completely engulf the prior three candles by closing below the first candle's open * And make a lower low than the last 3 bars — confirming downside strength * A red shaded box is plotted around the 4-bar formation to emphasize the reversal zone Why this is unique: Most candlestick tools focus on 1–2 bar patterns. The Three Line Strike goes a step further by combining trend exhaustion (3 same-colored candles) with a full reversal engulfing candle. This pattern is both rare and highly expressive of sentiment shift, making it a standout signal for discretionary and algorithmic traders alike. How users can benefit: * High-probability setups: Filters out weak signals using multi-bar confirmation logic * Clear visual cues: Dynamic shaded boxes and labels make spotting reversals effortless * Cross-timeframe compatible: Works on intraday and higher timeframes across all markets * Real-time alerts: Get notified instantly when a bullish or bearish setup forms This indicator is a valuable addition for traders who want to capture key reversals backed by strong multi-bar price action logic. Whether you are a price action purist or a pattern-based strategist, the IU Three Line Strike gives you a reliable edge. Disclaimer: This script is for educational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results. Always do your own research and consult with a licensed financial advisor before making trading decisions.
Indicatore Pine Script®
di Shivam_Mandrai
5
IU Inside out candlestick patternIU Inside Out Candlestick Pattern This indicator identifies the Inside Out Candlestick Pattern — a unique 3-bar price action setup that captures strong market momentum and potential reversals with greater reliability than traditional patterns. Pattern Logic: The Inside Out pattern builds upon a classic engulfing setup by adding a breakout confirmation, making it a refined and filtered approach to candlestick analysis. Bullish Inside Out Logic: - Bar must be a bullish engulfing candle (engulfs previous bearish candle). - Current bar must be bullish and must close above the high of the engulfing candle (a bullish breakout). - When this setup is confirmed, a shaded green box is drawn around the range of the engulfing candle and its preceding bar. Bearish Inside Out Logic: - Bar must be a bearish engulfing candle (engulfs previous bullish candle). - Current bar must be bearish and must close below the low of the engulfing candle (a bearish breakdown). - When confirmed, a red box highlights the zone formed by the engulfing candle and its prior bar. Why this is unique: Unlike conventional candlestick indicators that trigger signals immediately after an engulfing pattern, this script adds a breakout condition to validate follow-through strength. This reduces false positives and gives traders a clearer edge. The pattern is also rare, which means it captures strong, decisive moves when it does appear. How users can benefit: - High-quality entries: Only shows patterns with proven follow-through, improving trade timing. - Visual clarity: Boxes and labels highlight significant price zones for easy interpretation. - Flexible use: Applicable across timeframes and instruments — ideal for both intraday and swing traders. - Alerts included: Real-time alerts help traders stay updated without staring at charts all day. This script is a powerful tool for price action traders looking to enhance pattern reliability and signal strength through structure-based breakout confirmation.
Indicatore Pine Script®
di Shivam_Mandrai
8
VWAP + Fib + Candlestick Pattern Strategy### **VWAP + Fibonacci + Candlestick Pattern Strategy (v6)** This indicator is designed to identify high-quality trading setups using a combination of **Anchored VWAP, Fibonacci Retracement Levels, and Candlestick Patterns**. It helps traders find optimal entry points where multiple confluences align, enhancing trade accuracy. ### **Key Features:** ✅ **Anchored VWAP** – Starts from the last pivot low (bullish) or pivot high (bearish) to determine trend strength. ✅ **Fibonacci Levels** – Uses key retracement levels (0.382, 0.5, 0.618, 0.786) for added confluence. ✅ **Candlestick Patterns** – Detects Pin Bars, Engulfing Candles, and Hammer Candles for potential reversals. ✅ **High-Quality Setups** – Highlights strong signals where price aligns with VWAP & Fib zones. ✅ **Alerts** – Get notified when a bullish or bearish setup is detected. ✅ **Risk Management** – Includes Take Profit (TP1, TP2, Final TP) & Stop Loss based on ATR. ✅ **Position Sizing** – Calculates position size based on a fixed dollar risk per trade. ### **How to Use:** 1. Apply the indicator to your chart. 2. Look for signals near Fibonacci retracement levels and VWAP. 3. Use alerts for real-time trade notifications. 4. Manage risk with built-in TP/SL and position sizing. Perfect for traders who use **Price Action & Smart Money Concepts** to refine their entries! 🚀
Indicatore Pine Script®
di vastavshri30
CHAKRA RISS ENGULFING CANDLESTICK STRATEGYChakra RISS Engulfing Candlestick Strategy Type: Technical Indicator & Strategy Platform: TradingView Script Version: Pine Script v6 Overview: The Chakra RISS Engulfing Candlestick Strategy combines a momentum-based approach using the Relative Strength Index (RSI) with Engulfing Candlestick Patterns to generate buy and sell signals. The strategy filters trades based on price movement relative to a 50-period Simple Moving Average (SMA), making it a trend-following strategy. The indicator uses color-coded bars to visually represent market conditions, helping traders easily identify bullish and bearish trends. The strategy is designed to be dynamic, adapting to changing market conditions and filtering out noise using key technical indicators. How It Works: RSI-Based Color Conditions: Green Bars: When the RSI crosses above a specified UpLevel (default: 50), indicating a bullish momentum and signaling potential buy conditions. Red Bars: When the RSI crosses below a specified DownLevel (default: 50), indicating a bearish momentum and signaling potential sell conditions. Buy Signal: Triggered when the following conditions are met: RSI crosses from below the UpLevel (default: 50) to above it, signaling increasing bullish momentum. The close price is above the 50-period Simple Moving Average (SMA), confirming an uptrend. The Buy Signal is plotted below the bar with a green arrow and a "BUY" label. Sell Signal: Triggered when the following conditions are met: RSI crosses from above the DownLevel (default: 50) to below it, signaling increasing bearish momentum. The close price is below the 50-period Simple Moving Average (SMA), confirming a downtrend. The Sell Signal is plotted above the bar with a red arrow and a "SELL" label. Stop Loss and Take Profit: For long trades (buy signals), the stop loss is placed below the previous bar's low, and the take profit is set at 3% above the entry price. For short trades (sell signals), the stop loss is placed above the previous bar's high, and the take profit is set at 3% below the entry price. Dynamic Bar Coloring: The bar colors change dynamically based on RSI levels: Green Bars: Indicating a potential uptrend (bullish). Red Bars: Indicating a potential downtrend (bearish). These visual cues help traders quickly identify market trends and potential reversals. Trend Filtering: The 50-period Simple Moving Average (SMA) is used to filter trades based on the overall market trend: Buy signals are only considered when the price is above the moving average, indicating an uptrend. Sell signals are only considered when the price is below the moving average, indicating a downtrend. Alerting System: Alerts can be set for both buy and sell signals. These alerts notify traders in real-time when potential trades are generated, allowing them to act promptly. Alerts can be configured to send notifications through email, SMS, or a webhook for integration with other services like IFTTT or Zapier. Key Features: RSI and Moving Average-Based Signals: Combines RSI with a moving average for more accurate trade signals. Stop Loss and Take Profit: Dynamic risk management with custom stop loss and take profit levels based on previous high and low prices. Buy and Sell Alerts: Provides real-time alerts when a buy or sell signal is triggered. Trend Confirmation: Uses the 50-period Simple Moving Average to filter signals and confirm the direction of the trend. Visual Bar Color Changes: Makes it easy to identify bullish or bearish trends with color-coded bars. Usage: This strategy is suitable for traders who prefer a trend-following approach and want to combine momentum indicators (RSI) with price action (Engulfing Candlestick patterns). It is particularly useful in volatile markets where quick identification of trend changes can lead to profitable trades. Best Used For: Day trading, swing trading, and trend-following strategies. Timeframes: Works well on various timeframes, from 1-minute charts for scalping to daily charts for swing trading. Markets: Can be applied to any market with sufficient liquidity (stocks, forex, crypto, etc.). Settings: UpLevel: The RSI level above which the market is considered bullish (default: 50). DownLevel: The RSI level below which the market is considered bearish (default: 50). SMA Length: The period of the Simple Moving Average used to filter trades (default: 50). Risk Management: Customizable stop loss and take profit settings based on price action (default: 3% above/below the entry price).
Indicatore Pine Script®
di Tradewith_Riss
3
Custom Candlestick Pattern IndicatorCustom Candlestick Pattern Indicator - Buy Signal Based on Green Candles Breaking Previous Lows Overview: This custom candlestick pattern indicator is designed to highlight potential buy opportunities based on a simple yet powerful candlestick pattern. The indicator identifies green candles that break below the low of the previous candle. This combination may signal a potential market reversal or a bullish continuation after a pullback, depending on the market context. Traders can use this indicator to detect areas where prices may be bouncing from recent lows, indicating a potential buying opportunity. Pattern Explanation: The strategy underlying this indicator is a two-part condition that must be met before a buy signal is generated: Green Candle: A green candle forms when the closing price of the current candle is higher than its opening price. This visually represents bullish momentum as buyers have taken control, closing the price higher than where it opened. Breaking the Previous Low: The low of the current candle must be lower than the low of the previous candle. This suggests that, despite initial bearish pressure during the candle formation (which drove the price below the previous candle's low), buyers stepped in to push the price higher by the candle’s close. This pattern can signify a potential reversal or bullish continuation, as it demonstrates that buyers are overcoming initial selling pressure. When the Pattern Occurs: This pattern is particularly interesting to traders who look for potential reversal signals after a brief decline in price. It may also work well in markets where pullbacks are common, as this pattern could mark the end of a retracement and the resumption of the bullish trend. How the Indicator Works: Green Candle: The indicator first identifies a green candle, where the close of the candle is greater than its open (close > open). This signals that the current period closed higher than it opened, which is generally a bullish sign. Breaking Previous Low: The indicator checks if the current candle's low is below the low of the previous candle (low < low ). If this condition is met, it means the price dropped below the previous candle's low but was still able to close higher (green candle), signaling a potential reversal or buying opportunity. Buy Signal: If both conditions are true (green candle + breaking previous low), the indicator plots a buy signal below the candle in the form of an upward-facing triangle labeled "Buy" in green. This serves as a visual cue for traders to consider entering a buy position. Optional Previous Low Plot: For added reference, the indicator plots the previous candle's low as a red step-line on the chart. This helps traders visualize when the price has dipped below the prior candle's low, making it easier to spot instances where the pattern is forming. How to Use: This indicator can be used across multiple timeframes, whether you’re trading short-term intraday patterns or longer-term swing trades. It works well in markets that experience pullbacks or minor retracements, as the pattern it identifies suggests a rejection of lower prices followed by a push higher. Traders can combine this indicator with other technical analysis tools (such as moving averages, support/resistance levels, or momentum oscillators) to strengthen the buy signals and add more context to the trading decision. Example Scenarios: Reversal Signal: Suppose a market has been in a minor downtrend, and suddenly a green candle forms after a low that breaks the previous day’s low. This indicator would generate a buy signal, suggesting the downtrend may be losing strength and that buyers are taking control. This could be an early indication of a reversal. Bullish Continuation After Pullback: Imagine a market in a steady uptrend experiences a temporary pullback. The price breaks the previous candle’s low, but the current candle closes higher (green candle). This buy signal could indicate that the pullback is over, and the uptrend is likely to continue. Advantages: Simplicity: This indicator relies on basic price action (green candles and lows) without requiring complicated indicators or oscillators, making it easy to understand and use. Visual Alerts: The plotted buy signals and previous lows provide a clear, visual representation on the chart, simplifying decision-making for traders. Versatility: It can be applied across different timeframes and asset classes (stocks, forex, crypto, etc.), making it a versatile tool for all kinds of traders. Limitations: As with any single indicator or pattern, this should not be used in isolation. It is important to incorporate broader market context, support/resistance levels, and other forms of analysis to avoid false signals. The pattern tends to be more effective when there’s sufficient market liquidity and may perform better in trending or volatile markets compared to sideways or flat markets.
Indicatore Pine Script®
di syamptl