OPEN-SOURCE SCRIPT
Candlestick Pattern Detector
Features
Reversal Patterns:
Bullish Patterns:
Bullish Engulfing: A strong reversal signal when a bullish candle completely engulfs the previous bearish candle.
Hammer: Indicates a potential bottom reversal with a small body and a long lower wick.
Morning Star: A three-candle pattern signaling a transition from a downtrend to an uptrend.
Bearish Patterns:
Bearish Engulfing: A bearish candle fully engulfs the prior bullish candle, indicating a potential downtrend.
Shooting Star: A potential top reversal with a small body and a long upper wick.
Evening Star: A three-candle pattern signaling a shift from an uptrend to a downtrend.
Continuation Patterns:
Bullish Continuation:
Rising Three Methods: A consolidation pattern within an uptrend, indicating the trend is likely to continue.
Bearish Continuation:
Falling Three Methods: A consolidation pattern within a downtrend, suggesting further downside movement.
Visual Highlights:
Bullish Reversal Patterns: Labeled below candles with a green "Bullish" marker.
Bearish Reversal Patterns: Labeled above candles with a red "Bearish" marker.
Bullish Continuation Patterns: Displayed as blue triangles pointing upward.
Bearish Continuation Patterns: Displayed as orange triangles pointing downward.
Real-Time Alerts:
Get notified when a specific candlestick pattern is detected, enabling you to act quickly in dynamic market conditions.
Reversal Patterns:
Bullish Patterns:
Bullish Engulfing: A strong reversal signal when a bullish candle completely engulfs the previous bearish candle.
Hammer: Indicates a potential bottom reversal with a small body and a long lower wick.
Morning Star: A three-candle pattern signaling a transition from a downtrend to an uptrend.
Bearish Patterns:
Bearish Engulfing: A bearish candle fully engulfs the prior bullish candle, indicating a potential downtrend.
Shooting Star: A potential top reversal with a small body and a long upper wick.
Evening Star: A three-candle pattern signaling a shift from an uptrend to a downtrend.
Continuation Patterns:
Bullish Continuation:
Rising Three Methods: A consolidation pattern within an uptrend, indicating the trend is likely to continue.
Bearish Continuation:
Falling Three Methods: A consolidation pattern within a downtrend, suggesting further downside movement.
Visual Highlights:
Bullish Reversal Patterns: Labeled below candles with a green "Bullish" marker.
Bearish Reversal Patterns: Labeled above candles with a red "Bearish" marker.
Bullish Continuation Patterns: Displayed as blue triangles pointing upward.
Bearish Continuation Patterns: Displayed as orange triangles pointing downward.
Real-Time Alerts:
Get notified when a specific candlestick pattern is detected, enabling you to act quickly in dynamic market conditions.
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.
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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.