Auto Chart Patterns

hace 6 horas

Auto Chart Patterns automatically scans the chart for major technical patterns and marks them directly on price action. It detects:
• Head & Shoulders (bearish reversal)
• Inverse Head & Shoulders (bullish reversal)
• Rising and Falling Wedges
• Double / Triple Tops and Bottoms
• Cup & Handle (bullish continuation)

For each pattern, the script draws the structure (trendlines / neckline), shades the pattern zone, and places a label with the pattern name.

It also generates optional trade signals:
• “BUY” when a bullish pattern breaks out with confirmation
• “SELL” when a bearish pattern breaks down with confirmation

Confirmations can include:
• Follow-through candle in the breakout direction
• Volume spike vs recent average
• RSI momentum agreement

Inputs let you control:
• Pivot sensitivity (left/right bars)
• Pattern types to display
• Cup & Handle depth rules
• Confirmation rules for entry/exit signals

This tool is designed to help you visually spot reversal and continuation setups, highlight potential breakout levels (necklines / wedge boundaries), and time trades with clearer confirmation instead of guessing.

Disclaimer: This script is for educational/technical analysis purposes only. It does not guarantee future performance, does not execute trades, and is not financial advice. Always confirm signals with your own analysis and risk management before entering any position.

hace 4 horas

Notas de prensa

Auto Chart Patterns automatically scans the chart for major technical patterns and draws them directly on price action. It detects:

• Head & Shoulders (bearish reversal)
• Inverse Head & Shoulders (bullish reversal)
• Rising and Falling Wedges
• Double / Triple Tops and Bottoms
• Cup & Handle (bullish continuation)
• Ascending / Descending / Symmetrical Triangles
• Bull Flags, Bear Flags, and Pennants

For each detected structure, the script will:
• Draw the pattern boundaries (trendlines, neckline, channel, triangle, etc.)
• Shade the pattern zone to make it easy to see visually
• Place a clean text label on the chart with the pattern name

In addition to pattern marking, the script can optionally generate trade signals:
• “BUY” when a bullish setup confirms (for example: inverse H&S, double bottom, falling wedge, ascending triangle, bull flag) and price breaks above the key breakout level
• “SELL” when a bearish setup confirms (for example: H&S top, double top, rising wedge, descending triangle, bear flag) and price breaks below the key breakdown level

Confirmation logic is rules-based and configurable. A signal is only shown if the breakout/breakdown is “real enough” according to the filters you choose. You can require:
• Follow-through candle in the expected direction
• Volume spike vs recent average volume
• RSI momentum agreement (RSI turning up for bullish breakouts, down for bearish breakdowns)

Inputs let you control:
• Pivot sensitivity (left/right bar strength for swing highs and lows)
• Which pattern classes to show (Head & Shoulders, Wedges, Triangles/Flags, Cup & Handle, etc.)
• Cup & Handle depth / handle tolerance
• How triangle / wedge / flag zones are recognized
• Confirmation rules for plotting BUY / SELL labels

How to use it:

1. Visual scanning
The script highlights reversal patterns like Head & Shoulders, Double Top, and Rising Wedge, as well as continuation patterns like Bull Flag, Ascending Triangle, and Cup & Handle. You get immediate context of where momentum is exhausting or building.

2. Breakout / breakdown levels
Each pattern internally defines a “trigger level” (neckline, wedge boundary, triangle flat edge, flag channel break, etc.). This level is tracked as bullLevel (for bullish bias) or bearLevel (for bearish bias). The script waits for price to cross that level with confirmation.

3. Trade intent labels
When conditions align, the script plots “BUY” below the bar (bullish confirmation) or “SELL” above the bar (bearish confirmation). Think of these not as automatic entries, but as “the setup you’ve been watching just triggered.”

Important notes:
• Signals are NOT repaints of future data, but any pattern recognition can look clearer in hindsight. Always inspect live behavior.
• Thin / illiquid symbols and very low timeframes may generate noisy or unreliable structures.
• Not every wedge / triangle / flag leads to continuation — false breakouts are real.

Disclaimer:
This script is for educational and technical analysis purposes only. It does not guarantee future performance, does not execute trades, and is not financial advice. Markets are risky, and pattern-based trading can fail. Always confirm any signal with your own analysis, higher timeframe context, and proper risk management before entering or exiting a position.

Developed by Mohammed Bedaiwi