OPEN-SOURCE SCRIPT
OBO-TOBO Head & Shoulders (H&S) Pattern Hunter
OBO-TOBO Head & Shoulders (H&S) Pattern Hunter
This indicator automatically detects Head and Shoulders (Bearish) and Inverse Head and Shoulders (Bullish) patterns using a smart ZigZag algorithm. Unlike standard indicators, it does not just mark the pivots; it draws the complete geometric "M" or "W" shape, including all legs from start to finish.
Key Features:
Full Geometry: Draws the complete pattern shape with proper legs, ensuring distinct visibility.
Smart Cleaning (Garbage Collector): Automatically deletes old or invalid patterns when a new one forms. Keeps your chart clean and prevents visual clutter.
Neckline Projection: Automatically draws the neckline projection to identify potential breakout levels.
Symmetry Check: Filters out invalid structures and only detects proportional patterns.
How to Use: You can adjust the "Sensitivity" (Length) setting in the menu to detect smaller or larger patterns according to your trading style.
This indicator automatically detects Head and Shoulders (Bearish) and Inverse Head and Shoulders (Bullish) patterns using a smart ZigZag algorithm. Unlike standard indicators, it does not just mark the pivots; it draws the complete geometric "M" or "W" shape, including all legs from start to finish.
Key Features:
Full Geometry: Draws the complete pattern shape with proper legs, ensuring distinct visibility.
Smart Cleaning (Garbage Collector): Automatically deletes old or invalid patterns when a new one forms. Keeps your chart clean and prevents visual clutter.
Neckline Projection: Automatically draws the neckline projection to identify potential breakout levels.
Symmetry Check: Filters out invalid structures and only detects proportional patterns.
How to Use: You can adjust the "Sensitivity" (Length) setting in the menu to detect smaller or larger patterns according to your trading style.
Script de código abierto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código abierto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.