OPEN-SOURCE SCRIPT
Candles - 2 or 3 consecutive pattern + Custom pips threshold
FEATURES:
- Detect a 2 or 3 consecutive candlestick pattern. Input the value into the first input value.
- Choose the minimum and the maximum amount of pips of the candle that you want to detect. The indicator will detect candles within that pips range and highlight the consecutive pattern
- Choose to not use the pips threshold. If disabled the indicator will constantly check for consecutive candles pattern.
- Choose if calculate pips taking into consideration OC (Open - Close of candles - Body) or HL (High - Low - Body + Wick)
VISUALS:
- Enable Boxes: when enabled a box is drawn around the pattern detected
- Enable Lines: when enabled lines from top/bottom/mid of the boxes are drawn
- Extend the lines
BuP = Bullish Pattern
BeP = Bearish Pattern
AIM:
The aim of the indicator was to spot 2 common patterns in one indicator: Three White Soldiers and Three Black Crows
The rest is all implementation because I like coding.
Anyway on all timeframes 3 consecutive candles with a similar body length seems to be an alarm that Market Makers are joining the gfame before a major manipulation so it worth keep an eye on those.
From my experimentation from ltf 1 minute timeframe to htf 1H timeframe, 3 consecutive candles with a body length between 10 and 20 pips could be the ones to keep an eye on before a reversal or a strong continuation.
For sure they are zonez and levels where MM would come back later.
Adjust the settings as you want and happy trading!
This is just an indicator nothing more
- Detect a 2 or 3 consecutive candlestick pattern. Input the value into the first input value.
- Choose the minimum and the maximum amount of pips of the candle that you want to detect. The indicator will detect candles within that pips range and highlight the consecutive pattern
- Choose to not use the pips threshold. If disabled the indicator will constantly check for consecutive candles pattern.
- Choose if calculate pips taking into consideration OC (Open - Close of candles - Body) or HL (High - Low - Body + Wick)
VISUALS:
- Enable Boxes: when enabled a box is drawn around the pattern detected
- Enable Lines: when enabled lines from top/bottom/mid of the boxes are drawn
- Extend the lines
BuP = Bullish Pattern
BeP = Bearish Pattern
AIM:
The aim of the indicator was to spot 2 common patterns in one indicator: Three White Soldiers and Three Black Crows
The rest is all implementation because I like coding.
Anyway on all timeframes 3 consecutive candles with a similar body length seems to be an alarm that Market Makers are joining the gfame before a major manipulation so it worth keep an eye on those.
From my experimentation from ltf 1 minute timeframe to htf 1H timeframe, 3 consecutive candles with a body length between 10 and 20 pips could be the ones to keep an eye on before a reversal or a strong continuation.
For sure they are zonez and levels where MM would come back later.
Adjust the settings as you want and happy trading!
This is just an indicator nothing more
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
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