OPEN-SOURCE SCRIPT
Soldiers Pattern Modified
This can be perceived as modified 3 soldiers, relaxed NR4 or even extended harami candlestick pattern.
Works for any instrument and any timeframe.
The idea is to find out any number of candles having their individual highs and lows, all within high and low range of base candle.
The count of soldiers and if they must be of same color, both can be configured.
Additional configurable settings is to add further check of having body of soldiers as well within body of base candle.
Trading strategy: Trade high or low breakout of base candle, having other as stop loss, for a risk reward ratio of 1:2.
Works for any instrument and any timeframe.
The idea is to find out any number of candles having their individual highs and lows, all within high and low range of base candle.
The count of soldiers and if they must be of same color, both can be configured.
Additional configurable settings is to add further check of having body of soldiers as well within body of base candle.
Trading strategy: Trade high or low breakout of base candle, having other as stop loss, for a risk reward ratio of 1:2.
Open-source script
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.
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.
Open-source script
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.
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.