OPEN-SOURCE SCRIPT
Bullish and Bearish Triangle Patterns
Bullish Triangle Detection:
A bullish triangle is identified when the highs are flat or increasing and the lows are rising, signaling an upward trend. The script uses ta.crossover for rising lows.
If a bullish triangle is detected, a green triangle (▲) is plotted above the price.
Bearish Triangle Detection:
A bearish triangle is identified when the highs are falling and the lows are falling as well, signaling a downward trend. The script uses ta.crossunder for falling highs.
If a bearish triangle is detected, a red triangle (▼) is plotted below the price.
Plotting Both Patterns:
The script displays green upward-facing triangles for bullish patterns and red downward-facing triangles for bearish patterns on the chart.
Alerts:
Alerts can be triggered for both bullish and bearish triangle patterns so that you can be notified when they occur.
A bullish triangle is identified when the highs are flat or increasing and the lows are rising, signaling an upward trend. The script uses ta.crossover for rising lows.
If a bullish triangle is detected, a green triangle (▲) is plotted above the price.
Bearish Triangle Detection:
A bearish triangle is identified when the highs are falling and the lows are falling as well, signaling a downward trend. The script uses ta.crossunder for falling highs.
If a bearish triangle is detected, a red triangle (▼) is plotted below the price.
Plotting Both Patterns:
The script displays green upward-facing triangles for bullish patterns and red downward-facing triangles for bearish patterns on the chart.
Alerts:
Alerts can be triggered for both bullish and bearish triangle patterns so that you can be notified when they occur.
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.
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.