OPEN-SOURCE SCRIPT
Candlestick Patterns with Signals
Identified Patterns:
Bullish Engulfing: Indicates potential upward price movement, marked with green labels and lines.
Bearish Engulfing: Suggests potential downward price movement, marked with red labels and lines.
Hammer: A bullish reversal pattern, marked with blue labels.
Shooting Star: A bearish reversal pattern, marked with orange labels.
Signal Generation:
Long Signal: Triggered when a Bullish Engulfing or Hammer pattern is detected. A dotted green line marks the entry level.
Short Signal: Triggered when a Bearish Engulfing or Shooting Star pattern is detected. A dotted red line marks the entry level.
Visual Elements:
Labels indicating the candlestick pattern names appear at the relevant candles.
Lines connect the previous and current candles for engulfing patterns to highlight their range.
Dotted lines indicate potential entry levels for long or short trades.
Bullish Engulfing: Indicates potential upward price movement, marked with green labels and lines.
Bearish Engulfing: Suggests potential downward price movement, marked with red labels and lines.
Hammer: A bullish reversal pattern, marked with blue labels.
Shooting Star: A bearish reversal pattern, marked with orange labels.
Signal Generation:
Long Signal: Triggered when a Bullish Engulfing or Hammer pattern is detected. A dotted green line marks the entry level.
Short Signal: Triggered when a Bearish Engulfing or Shooting Star pattern is detected. A dotted red line marks the entry level.
Visual Elements:
Labels indicating the candlestick pattern names appear at the relevant candles.
Lines connect the previous and current candles for engulfing patterns to highlight their range.
Dotted lines indicate potential entry levels for long or short trades.
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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