Failed 2D & Failed 2U Bars

30 ene 2025

I created this indicator to plot a triangle when a candle is either 1) a failed 2 down--the candle breaks the low of the prior candle but closes green (or higher than its opening price) and doesn't break the high of the previous candle; and 2) a failed 2 up--high of the prior candle is broken but the bar is red and does not break the low of the prior candle.

It has alerts which you can set up in the alert system.

I think that this candle is one of the most telling and powerful when it comes to candle analysis.

R.I.P. Rob Smith, Creator of The Strat.

11 abr

Notas de prensa

This update introduces a robust analytical framework to the Failed 2D & 2U Bars indicator. The goal of this version is to provide traders with a clear, objective view of how specific Strat patterns have historically behaved on a given asset and timeframe.

Key Enhancements: Historical Follow-through Engine: This engine calculates the frequency with which a Failed 2 setup reaches a specific price extreme over a user-defined lookback period.

Defined Follow-through Criteria: Users can now define a specific "Target Bar" (X bars after the setup). The engine then identifies if the closing price of that target bar was higher than the setup’s high (for 2D) or lower than the setup’s low (for 2U).Visual Data Verification (Audit Mode):

To ensure transparency, users can toggle "Audit Mode." This places ✔ (Reached) and ✖ (Not Reached) markings on the chart at the exact bar of the evaluation. This allows the user to manually verify the historical data points presented in the table.

Moveable Metrics Dashboard: A 4-column customizable table provides a summary of total setups detected and the percentage of those setups that met the follow-through criteria. The table can be anchored to 8 different positions on the chart.

Signal Customization:

The relevant markers are fully customizable. Users can toggle visibility, modify shapes (triangles, diamonds, arrows, etc.), and adjust colors and sizes to fit their personal chart preference.

How to Utilize the Analytical Data:

Define Sample Size: Use the "Lookback Period" input to choose how many bars of history to analyze.

Select Evaluation Point: Use the "Target Bar" input to set the specific bar after the setup where the outcome is measured.

Analyze Volatility: Use the Metrics Dashboard to observe how frequently the asset has followed through on these specific Strat reversals in the past.

Verify Visuals: Use the "Lookback Start Line" and "Audit Mode" to visually confirm the data sample being analyzed.By focusing on objective price-action measurement, this update provides a deeper understanding of asset-specific behavior when the Failed 2 pattern is present.

Don't want all the fancy stuff? Just turn it off. Just leave on the Failed 2 Candles. You can turn off the table, markers, whatever you want. I'm all about flexibility for our TradingView traders.

IMPORTANT DISCLAIMER: This tool is for informational and educational purposes only. It is a data-visualization tool designed to analyze past market behavior. It is not a financial advisory service, and past performance is never indicative of future results.