PROTECTED SOURCE SCRIPT
Updated PM3K Confirmed Candle Reversal Patterns
These candlestick reversal patterns use three bars for each signal. So, for example, a Bearish Engulfing Candles (which is a well known signal) will have a third candle which confirms the bullish move. This improves the reliability and reduces the number of signals.
Like any candlestick pattern these are best traded away from horizontal support/resistance and/or moving average levels. Overbought/sold RSI conditions are also good for confirmation as are classic pivot points.
Like any candlestick pattern these are best traded away from horizontal support/resistance and/or moving average levels. Overbought/sold RSI conditions are also good for confirmation as are classic pivot points.
Release Notes
Cleaned up some code and added a bright text option for peeps with black charts. Thanks to Matt for the suggestionRelease Notes
Added an option to filter signals by RSI, so you can adjust it to only show long signals if RSI is below 40 and shorts if it's above 60, for example.Release Notes
Cleaned up signal text so they take less space. They're not as descriptive but are much easier on the eyeRelease Notes
Fixed screenshotProtected script
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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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.