OPEN-SOURCE SCRIPT
Candlestick Pattern with Trend Confirmation
Below is the TradingView Pine Script code that detects various candlestick patterns based on the trend direction. The script will highlight bullish and bearish patterns on the 4-hour chart, and it will only trigger the relevant patterns if they occur in the correct trend direction.
The basic idea is:
Bullish Patterns like bullish engulfing, morning star, hammer, and piercing line are only valid in an uptrend.
Bearish Patterns like bearish engulfing, evening star, shooting star, and dark cloud cover are only valid in a downtrend.
The trend will be determined using a 50-period simple moving average (SMA).
The basic idea is:
Bullish Patterns like bullish engulfing, morning star, hammer, and piercing line are only valid in an uptrend.
Bearish Patterns like bearish engulfing, evening star, shooting star, and dark cloud cover are only valid in a downtrend.
The trend will be determined using a 50-period simple moving average (SMA).
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.
For quick access on a chart, add this script to your favorites — 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.
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.
For quick access on a chart, add this script to your favorites — 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.