Head & Shoulders S/R Regular

30 de dez. de 2021

This is my take in Head & Shoulders (regular H&S)
The script will wait until a valid point E is found, which means A, C and E are alined


Then it will find the highest point between C - E -> Head (= D),
together with the highest point between A - C -> Left Shoulder (= B)

After this, the pattern is drawn, together with a 'trigger' area (E-G - E'-G' ~ 'Right shoulder area')

ONLY in this field, when a close is higher than E'-G', the figure will turn green, if lower than E-G, it will turn red, else, it will be blue


Settings:

• Date range filtering
  Here you can filter the patterns by setting the date period (for E)
  
• Pivot Points -> Leftbars - Rightbars
• min/max retrace AD -> E
  Set the retracement for E (retracement A -> D -> E, here between 1.4 & 1.5)
  
• % tolerance [L ~ R shoulder height]
  Tolerance of Right shoulder height against Left shoulder height
  0% (= the same relative height):
  
  85% (-> now close isn't higher than E'-G' -> blue coloured):
  
• min/max % [Left Shoulder ~ Head]
  Sets the desired B height against D (here B is between 35-45% of D):
  
• width R shoulder = L shoulder + x%
  Sets the width of Right shoulder against Left shoulder
  0% (nothing extra, just the same width as Left shoulder)
  
  100% (Right shoulder area is double as large as the Left shoulder):
  
  -70% (Right shoulder area much narrower than Left shoulder):
  
• maximum visible patterns:
  Set the maximum visible amount of patterns
  

This script uses one of the latest fantastic Pinescript features:
linefill[] and for ... in loop

Cheers!

10 de jan. de 2022

Notas de Lançamento

Code improvement

10 de jan. de 2022

Notas de Lançamento

update

10 de jan. de 2022

Notas de Lançamento

update