OPEN-SOURCE SCRIPT
NG - Final - Uday
This is a comprehensive candlestick pattern detector that identifies seven key patterns:
Shooting Star - Bearish reversal pattern with a long upper wick at market highs
Gravestone Doji - Bearish pattern with very small body and long upper wick at highs
Inverted Hammer - Bullish reversal pattern with long upper wick at market highs
Hammer - Bullish reversal pattern with long lower wick at market lows
Bearish Pinbar - Bearish pattern with long lower wick at market lows
Bearish Engulfing - Two-candle bearish reversal pattern, requires new 15-bar high
Bullish Engulfing - Two-candle bullish reversal pattern, requires new 15-bar low
The indicator filters for high-quality setups by requiring patterns to form at significant price levels (local highs/lows). For engulfing patterns specifically, it looks for stronger candles (1.5x size) and requires them to occur at new 15-bar extremes, reducing false signals.
Alerts are generated when any of these patterns are detected, and patterns are visually marked on the chart with different shapes and colors (red for bearish, green for bullish).
Shooting Star - Bearish reversal pattern with a long upper wick at market highs
Gravestone Doji - Bearish pattern with very small body and long upper wick at highs
Inverted Hammer - Bullish reversal pattern with long upper wick at market highs
Hammer - Bullish reversal pattern with long lower wick at market lows
Bearish Pinbar - Bearish pattern with long lower wick at market lows
Bearish Engulfing - Two-candle bearish reversal pattern, requires new 15-bar high
Bullish Engulfing - Two-candle bullish reversal pattern, requires new 15-bar low
The indicator filters for high-quality setups by requiring patterns to form at significant price levels (local highs/lows). For engulfing patterns specifically, it looks for stronger candles (1.5x size) and requires them to occur at new 15-bar extremes, reducing false signals.
Alerts are generated when any of these patterns are detected, and patterns are visually marked on the chart with different shapes and colors (red for bearish, green for bullish).
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