Formation Analysis Table

6 hours ago

This code creates a pattern analysis table written in TradingView's Pine Script v5 language. The code analyzes specific candlestick patterns and displays the presence or absence of these patterns in a table. It also provides a brief description of each pattern.

Sections of the Code and Explanations:
1. Defining the Indicator
pinescript
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//version=5
indicator("Formation Analysis Table", overlay=true)
version=5: Specifies that the code will work in Pine Script v5.
indicator: Specifies that this code is an indicator. The overlay=true parameter allows the table to be displayed above the price chart.
2. User Settings
pinescript
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font_size = input.int(12, title="Font Size", minval=8, maxval=24)
position_option = input.string("Top Right", title="Table Position", options=["Top Right", "Top Left", "Bottom Right", "Bottom Left"])
font_size: Allows the user to choose the font size.
position_option: Provides the option to position the table in one of the four corners of the screen.
The table position is determined as follows:

pinescript
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var table_position = position.top_right
if (position_option == "Top Right")
table_position := position.top_right
else if (position_option == "Top Left")
table_position := position.top_left
else if (position_option == "Bottom Right")
table_position := position.bottom_right
else if (position_option == "Bottom Left")
table_position := position.bottom_left
3. Creating the Table
pinescript
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var table t1 = table.new(table_position, 3, 21, frame_color=color.white, border_width=1, border_color=color.white)
table.new: Creates a new table.
3: Specifies the number of columns (Formation, Status, Description).
21: Specifies the number of rows (20 patterns + title).

frame_color and border_color: Color of the chart frame.

4. Pattern Detection Functions
A function is defined for each pattern. For example:

Bullish Engulfing:
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bullish_engulfing() =>
close[1] < open[1] and close > open and close > open[1] and open < close[1]
Conditions for this pattern:

Previous candle must be a bearish candle (close[1] < open[1]).
Current candle must be a bullish candle (close > open).
Current candle must "engulf" the entire previous candle (close > open[1] and open < close[1]).
Bearish Engulfing Candle:
pinescript
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bearish_engulfing() =>
close[1] > open[1] and close < open and close < open[1] and open > close[1]
Similarly, the conditions for the bearish engulfing candle are defined.

Similar logical checks are made for other formations (Doji, Hammer, Morning Star, etc.).

5. Table Headers
A header is added to the first row of the table:

pinescript
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if (bar_index == 0)
table.cell(t1, 0, 0, text="Formation", bgcolor=color.blue, text_color=color.white, text_size=size.normal)
table.cell(t1, 1, 0, text="Status", bgcolor=color.blue, text_color=color.white, text_size=size.normal)
table.cell(t1, 2, 0, text="Description", bgcolor=color.blue, text_color=color.white, text_size=size.normal)
The "Formation", "Status", and "Description" headers are added to the table.

6. Formations, Statuses, and Descriptions
Formations, statuses, and descriptions are stored in separate arrays.
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formations = array.new_string(20)
array.set(formations, 0, "Bullish Engulfing")
Statuses are determined by whether each formation is detected:
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statuses = array.new_string(20)
array.set(statuses, 0, bullish_engulfing() ? "Detected" : "Not Detected")
If the formation is detected, "Detected" is written; otherwise, "Not Detected".

The descriptions tell what each pattern means:
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descriptions = array.new_string(20)
array.set(descriptions, 0, "Potential bullish trend.")
7. Filling the Table Cells
The table is filled for each pattern:

pinescript
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for i = 0 to array.size(formations) - 1
table.cell(t1, 0, i + 1, text=array.get(formations, i), bgcolor=color.blue, text_color=color.white, text_size=text_size)
table.cell(t1, 1, i + 1, text=array.get(statuses, i), bgcolor=color.gray, text_color=color.white, text_size=text_size)
table.cell(t1, 2, i + 1, text=array.get(descriptions, i), bgcolor=color.white, text_color=color.black, text_size=text_size)
The name, status and description of each formation are written in the table with the appropriate color.
Output:
When this code is run, a table is displayed above the price chart:

Formation: Which formations are being analyzed.
Status: Which formations have been detected.
Description: What the formation means.
The table visualizes formation analysis in a user-friendly and dynamic way.