OPEN-SOURCE SCRIPT
Hikkake Pattern
The hikkake pattern is a price pattern used by technical analysts and traders
hoping to identify a short-term move in the market's direction. The pattern
has two different setups, one implying a short-term downward movement in price
action, and a second setup implying a short-term upward trend in price.
The Hikkake pattern (pronounced Hĭ KAH kay) is a complex bar or candle pattern
that begins to move in one direction but reverses quickly and is said to establish
a forecast for a move in the opposite direction. This pattern was developed by Daniel L.
Chesler, CMT, who published a description of the pattern first in 2003.
hoping to identify a short-term move in the market's direction. The pattern
has two different setups, one implying a short-term downward movement in price
action, and a second setup implying a short-term upward trend in price.
The Hikkake pattern (pronounced Hĭ KAH kay) is a complex bar or candle pattern
that begins to move in one direction but reverses quickly and is said to establish
a forecast for a move in the opposite direction. This pattern was developed by Daniel L.
Chesler, CMT, who published a description of the pattern first in 2003.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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.