OPEN-SOURCE SCRIPT

Flag Screener [QuantVue]

Flag Screener is a screening tool that identify bull and bear flags in up to 40 different symbols.

The indicator takes a comma separated list of symbols and then scans the symbols in real time to detect bull or bear flags.

snapshot

What are flags
Flags are continuation patterns that occur within the general trend of the security. A bull flag represents a temporary pause or consolidation before price resumes it's upward movement, while a bear flag occurs before price continues its downward movement.

Both flag patterns consist of two components:
  • The Pole
  • The Flag


The pole is the initial strong upward surge or decline that precedes the flag. The pole is usually a fast move accompanied by heavy volume signaling significant buying or selling pressure.

The flag is then formed as price consolidates after the initial surge or decline from the pole. For a bull flag price will drift slightly downward to sideways, a bear flag will drift upward to sideways. The best flags often see volume dry up during this phase of the pattern.

snapshot
snapshot

Indicator Settings
Both components are fully customizable in the indicator so the user can adjust for any time frame or volatility. Select the minimum and maximum accepted limits from the % gain loss required for the pole, the maximum acceptable flag depth or rally and the minimum and maximum number of bars for each component.
Bearish FlagBullish FlagChart patternsFLAGflagsquantvuescreener

Script de código aberto

No verdadeiro espírito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam compreendê-lo e analisá-lo. Parabéns ao autor! Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.

Quer usar esse script no gráfico?


Get Access to the exclusive QuantVue indicators: quantvue.io/

Join thousands of traders in our Free Discord: discord.gg/tC7u7magU3
Também em:

Aviso legal