OPEN-SOURCE SCRIPT
small channel in 5min
This indicator designed for 5min time-frame.
it detects a candlestick pattern in one hour time-frame and draw a channel based on the detected pattern, where two candles [0] and [1] are covered by the third one [2], in 5 min time-frame.
the bottom, middle and top of the channel are colored by green, gray and red respectively. this channel may help user to use it as a possible support and resistance region.
(the pattern is defined in line 11 to 13.)
enjoy it
it detects a candlestick pattern in one hour time-frame and draw a channel based on the detected pattern, where two candles [0] and [1] are covered by the third one [2], in 5 min time-frame.
the bottom, middle and top of the channel are colored by green, gray and red respectively. this channel may help user to use it as a possible support and resistance region.
(the pattern is defined in line 11 to 13.)
enjoy it
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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