Chart Patterns ⁽¹⁵⁾

Introducing the Converging Chart Patterns Ultimate Indicator Derived from the comprehensive capabilities of our premium offering, the Auto Chart Patterns - Ultimate, this new indicator focuses exclusively on converging chart patterns. It marks the beginning of a series that, over time, will encompass the full spectrum of chart pattern analysis, ultimately enhancing and expanding beyond the scope of Auto Chart Patterns. This strategic separation into more focused indicators is designed to cater to traders seeking precision in specific chart pattern categories. Leveraging…

After exploring Algorithmic Identification and Classification of Chart Patterns and developing Auto Chart Patterns Indicator, we now delve into extensions of these patterns, focusing on Flag and Pennant Chart Patterns. These patterns evolve from basic trend line pair-based structures, often influenced by preceding market impulses. Before identifying the flag and pennant patterns, we first need to identify the existence of following base trend line pair based converging or parallel patterns. The key to pinpointing these patterns lies in spotting a strong impulsive…

Our Auto Chart Patterns indicator stands as the epitome of advanced chart pattern recognition technology. Building upon our recent publication on algorithmic identification and classification of chart patterns, this tool embodies our innovative approach, automating the intricate process of pattern recognition for traders. Link to the Indicator: Auto Chart Patterns The bulk of the logic is implemented as part of the library - chartpatterns. The indicator is a shell that captures the user inputs and makes use of the library to deliver the…

Embark on a journey through the most comprehensive and feature-rich Zigzag implementation you’ll ever encounter. Our Multi-Timeframe Recursive Zigzag Indicator is not just another tool; it's a groundbreaking advancement in technical analysis. Link to the Indicator: Multi-Timeframe Recursive Zigzag Our Zigzag Indicator is designed with an understanding of its inherent nature - the last unconfirmed pivot that consistently repaints. This characteristic, while by design, directs its usage more towards pattern recognition rather than direct identification of market tops and bottoms. Here's how…

There are several implementations of ABC pattern in tradingview and pine script. However, we have made this indicator to provide users additional quantifiable information along with flexibility to experiment and develop their own strategy based on the patterns. Link to the Indicator: ABC Pattern on Recursive Zigzag The ABC pattern, also known as the Corrective Wave or Zigzag Pattern, is a fundamental concept in Elliott Wave Theory, which is widely used in technical analysis to identify and predict price movements in financial…

The Volume Forks Indicator is a comprehensive research tool that combines two innovative techniques, Recursive Auto-Pitchfork and Angled Volume Profile. This indicator provides traders with valuable insights into price dynamics by integrating accurate pitchfork drawing and volume analysis over angled levels. Link to the Indicator: Volume Forks Indicator The indicator does the following things A pitchfork is drawn when the price forms an ABC pattern. Pitchfork draws a series of parallel lines in the direction of trend which can be used for…

The indicator automatically draws pitchfork formations on a recursive zigzag. This algorithm is developed using the latest features of Pinescript of using methods and types. The script has the option to select different categories of pitchforks to be drawn. Popular types include Andrew's pitchfork, Schiff and Modified Schiff pitchforks. These can be further drawn as either regular or inside pitchforks. Link to the Indicator: Recursive Auto Pitchfork Indicator Say Hi to object-oriented programming with Pinescript using types and methods. This is the…

At Trendoscope, we specialise in designing and developing pattern recognition algorithms for technical trading. Our proprietary tools and algorithms provide traders and investors with the most accurate and reliable data possible, helping them make better decisions and achieve greater success in the markets. Link to the Indicator: Auto Trend Lines Indicator I started off with the intention of creating a script to identify Wolfe wave projection. But, soon ran into a problem with loops. Realized drawing a wedge is more difficult than…

Most sophisticated Chart Pattern Indicator you will ever find in the open source library of Tradingview. This indicator uses an advanced multi-zigzag algorithm to spot 5 or 6 pivot chart patterns. This is an earlier version of the Chart Patterns (Deep Search) Indicator Link to the Indicator: Multi Zigzag Wedge and Flag Finder Tradingview standard wedge checks for only 4 pivots. In this version, I have considered 5 pivots instead - which can help reduce noise as 4 pivots forming a wedge…

The Wolfe wave indicator is a very popular chart pattern used in options trading. The indicator spots the Wolfe formations and also suggests the rules of the Wolfe wave trading system. More details on the Wolfe Wave pattern is available on the tradingview page linked below. Link to the Indicator: Advanced Wolfe Wave Indicator Before getting into the script, I would like to explain a bit of the history of this project. Wolfe Pattern was in the back of my mind for…

This algorithm tries to capture chart pattern by drawing trend line pairs for lower and higher pivots. The algorithm is so powerful that it can capture many well-known pattern such as converging and diverging triangles, rising and falling wedges, flags, trend and range channels etc. Link to the Indicator: Chart Pattern (Deep Search) After getting a good response on Wedge-and-Flag-Finder-Multi-zigzag, I thought I will build a little bit further into the script. Please note: The indicator has simple output where it only…