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Reversal-pattern

Turtle Soup Reversal Map [AGPro Series]Turtle Soup Reversal Map 🔹 Overview Turtle Soup Reversal Map is a mean-reversion pattern detector inspired by Linda Raschke's classic "Turtle Soup" setup — a counter-attack on failed 20-bar breakouts. When price pierces a multi-bar extreme and then closes back inside the prior range, institutional traders often interpret it as trapped breakout participants being flushed. This script automates the detection, qualifies each setup with a transparent 0–100 score, and projects a reference target alongside an auto-resolving rejection zone. It is designed for traders who want a disciplined, rule-based way to spot failed breakouts without drawing them manually. 🔹 Unique Edge Unlike generic liquidity-sweep or wick-rejection indicators, Turtle Soup Reversal Map is built around Raschke's specific 20-bar-extreme rule — a pattern with decades of documented performance in swing-trading literature. Three characteristics separate it from similar tools: • Strict N-bar-extreme definition (not a simple swing-high/low fade). Price must violate the exact prior-lookback extreme, not just a minor pivot. • Five-component adaptive quality score — wick rejection, volume spike, overshoot magnitude, higher-timeframe trend alignment, and key-level proximity. Each component is a transparent weighted contribution, with clear A+ / A / B / C grades. • Full lifecycle state engine — Pending → Fired → Target/Stop/Invalidated. Setups that do not confirm within their window are auto-invalidated (not left hanging), and live win-rate plus average R-multiple are tracked over the most recent resolved setups. 🔹 Methodology The script continuously monitors for price piercing the highest high or lowest low of the prior N bars (default 20, range 10–50). When a sweep occurs, a Pending setup is created. Confirmation is then evaluated in one of two user-selectable modes: • Same-Bar Close — the violating bar must close back inside the prior range on the same bar (faster, more signals). • Next-Bar Close — Raschke's original specification; the next bar must close back inside the prior range (slower, higher reliability). If confirmation fires, the setup becomes Fired and a reference target is projected from the confirmation close (default 2.5 × ATR(14)). Stop is placed at the sweep extreme plus a configurable ATR buffer. Setups that fail to confirm within their window, or where price overshoots the stop before confirmation, are automatically invalidated. The quality score blends: wick-to-range ratio at the extreme bar, relative volume spike versus its 20-bar average, overshoot magnitude (ATR-normalized with a sweet-spot curve), counter-trend alignment against a user-defined higher timeframe, and proximity to round numbers or recent pivot levels. 🔹 Signals & Alerts The script produces three alert types, all configurable: • Pending — sweep detected, awaiting confirmation. • Fired — confirmation closed back inside prior range. • Invalidated — setup dismissed due to overshoot or window timeout. Each alert message includes direction (Bull/Bear), current grade, ticker, and timeframe. Fired setups are visualized with a labeled confirmation marker, a dashed target-projection line, a dotted stop-reference line, and an auto-closing rejection zone. Labels display the Soup-Bull / Soup-Bear name, grade, and numeric score. 🔹 Key Inputs • Lookback Bars — size of the extreme window (default 20, range 10–50). • Confirmation Mode — Same-Bar Close or Next-Bar Close. • Invalidation Distance (ATR) — stop buffer beyond the sweep extreme (default 0.5). • Target Projection (ATR) — reference reversal target distance from entry (default 2.5). • Quality Score Components — each of the five score components can be toggled independently for custom configurations. • HTF for Trend — higher timeframe used for the trend-alignment component (default 240 min). • Stats Sample Size — rolling window of resolved setups used for win-rate and average reward metrics (default 30). • Visual & Panel Options — zones, lines, labels, target projection, panel location, font sizes, and per-element toggles. 🔹 How to Use 1. Apply to any liquid instrument and timeframe. The pattern's rule set is symbol-agnostic but performs differently across assets — review the live Win Rate and Avg Reward metrics in the panel to calibrate expectations. 2. Watch the Status field in the panel. Idle means no active setup; Pending Bull/Bear means a sweep has occurred and the script is waiting for confirmation; Fired Bull/Bear means confirmation closed and a target has been projected. 3. Filter setups by grade. A+ and A setups have stronger confluence — particularly wick rejection, volume, and HTF alignment. B setups are acceptable under favorable market regimes; C grades are educational only. 4. Treat the target projection as a reference, not a trade instruction. The stop reference line marks where the structural invalidation lies. Always combine with your own risk management. 5. The historical Win Rate is computed over the last N resolved setups on the current chart; it reflects the pattern's fit with the current symbol and timeframe, not a guarantee. 🔹 Limitations & Transparency This indicator identifies historical setups algorithmically. It does not predict future price movement, and no indicator does. Turtle Soup is a counter-trend mean-reversion pattern — in strong trending regimes, false signals increase; in consolidation and range-bound conditions, it performs best. The displayed Win Rate and Avg Reward are historical, rolling, chart-dependent, and should not be interpreted as future expectations. Target and stop references are geometric projections based on ATR, not optimized parameters. 🔹 Risk Disclosure This script is a technical analysis tool for educational and research purposes. It is not a trading strategy, not a recommendation, and not financial advice. Past performance does not guarantee future results. Always conduct your own analysis and use proper risk management. Trade at your own risk.
Indicador Pine Script®
por AGProLabs
Double Top / Bottom Quality [AGPro Series]Double Top / Bottom Quality Double Top / Bottom Quality is a disciplined, rules-based detector for the two most iconic reversal chart patterns: the Double Top (M-shape) and the Double Bottom (W-shape). Unlike basic pattern finders that fire on any two similar swings, this indicator scores every candidate pattern on a transparent 0–100 Quality Score across four independent factors — and only confirms patterns that pass a user-defined minimum. The result is a cleaner chart with fewer, higher-conviction setups. Every confirmed pattern delivers a full trading lifecycle: a neckline flip S/R zone (resistance → support on a Double Bottom; support → resistance on a Double Top) and a measured-move target projection band. Pending, confirmed, target-hit and invalidated states are all tracked with disciplined cleanup, so the chart never becomes cluttered. 🔹 WHAT THE INDICATOR DOES It detects classic Double Top and Double Bottom reversal structures using pivot-based swing analysis with ATR-normalised equality, depth and time-window filters. Each valid candidate is then scored on four independent quality factors. Only candidates that exceed the user-defined minimum score and break the neckline on close are confirmed. Once confirmed, the pattern draws its neckline flip zone and target projection band, labels the setup with its letter grade and score, and tracks the outcome until target hit or invalidation. 🔹 UNIQUE EDGE — WHY IT IS DIFFERENT Most Double Top / Double Bottom scripts simply connect two similar swings and draw a line. This indicator adds a transparent 4-component Quality Score so every setup is rated before confirmation, not just flagged. Three factors that most scripts ignore are treated as first-class inputs here: • Pattern Symmetry — the left leg and the right leg of the M / W must be comparable in time, or the pattern is penalised • Break Volume Confirmation — the neckline break bar is compared to its rolling volume average, and thin breaks score lower • Depth Quality — shallow, flat patterns are filtered out in favour of deep, decisive reversals The full lifecycle visualisation (pending → confirmed → target hit) and same-region deduplication are also uncommon in this pattern category, and together they produce a chart that reads cleanly even on long history. 🔹 METHODOLOGY • Pivot detection via ta.pivothigh / ta.pivotlow with user-configurable length • Equality check: the two peaks (or troughs) must be within a configurable ATR tolerance • Time-window filter: minimum and maximum bars allowed between the two pivots • Depth filter: the vertical distance from peaks to neckline must exceed a minimum ATR threshold • Neckline: lowest low between the two peaks for a Double Top, or highest high between the two troughs for a Double Bottom • Confirmation trigger: daily close beyond the neckline • Invalidation: price exceeds the pattern extreme before the neckline break • Cooldown: after confirmation, new patterns in the same price region are suppressed for N bars to prevent clustering 🔹 QUALITY SCORE (0–100) Each confirmed pattern receives a transparent score based on four equally-weighted factors (25 points each): 1. Peak / Trough Equality — how close the two extremes are to each other, measured in ATR units 2. Break Volume Confirmation — break-bar volume relative to the 20-bar average 3. Pattern Symmetry — ratio of the shorter leg to the longer leg (time-based) 4. Depth Quality — pattern height relative to ATR (deeper = higher score) Score → Grade mapping: • 85–100 = A • 70–84 = B • 55–69 = C • <55 = D 🔹 SIGNALS, ZONES & ALERTS Once a pattern confirms, the indicator renders: • A solid neckline that extends to the right edge • A neckline flip zone (rectangular S/R band at the neckline level) • A target projection zone at the measured-move price (pattern height projected from neckline) • A grade label (A / B / C) and numeric score on the pattern Two alert types are available: "Confirmed Pattern" fires on confirmation, and "Target Hit" fires when the measured-move target is reached. 🔹 KEY INPUTS • Pivot Length, ATR Length • Peak / Trough Equality tolerance (ATR) • Min / Max bars between peaks • Minimum Pattern Depth (ATR) • Break Volume Multiplier • Cooldown bars • Minimum Quality Score filter • Show Pending Patterns toggle • Show Neckline Flip Zone / Target Zone toggles • Zone Width (ATR) • Stale Cleanup Distance, Max Active Zones • Label size, Panel position / theme / size • Alert toggles 🔹 HOW TO USE • Choose a liquid market and a timeframe that matches your trading style (4H and 1D are particularly well-suited to classic reversal patterns) • Watch for Pending patterns (dashed lines) — these mark candidates awaiting a neckline break • A Confirmed pattern with grade B or higher is the typical entry signal; aggressive traders may use C-grade while conservative traders may filter to A-grade only • Use the neckline flip zone as a logical stop-loss reference (above it for Double Tops, below for Double Bottoms) • Use the target projection zone as a take-profit reference based on the classical measured-move rule • Combine with higher-timeframe trend, volume profile or an independent confluence tool for best results 🔹 LIMITATIONS & TRANSPARENCY • Pivot-based detection means patterns confirm with a natural lag equal to the pivot length • No strategy is 100% reliable — Quality Score filters improve average conviction but do not guarantee outcomes • Very low-liquidity markets may produce unstable pivots; a longer pivot length helps • Measured-move targets are a classical reference, not a prediction • Historical statistics shown in the panel are pattern-completion counts on the loaded chart; they are not a guaranteed forward performance estimate 🔹 RISK DISCLOSURE This script is provided for educational and analytical purposes only. It is not financial advice and does not constitute a recommendation to buy, sell or hold any asset. Trading involves substantial risk of loss; past pattern performance is not indicative of future results. Always perform your own research and use appropriate risk management. Open-source under the Mozilla Public License 2.0 — contributions and feedback are welcome.
Indicador Pine Script®
por AGProLabs
Judas Swing Detector [AGPro Series]Judas Swing Detector ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ OVERVIEW ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ The Judas Swing is a well-known intraday pattern in ICT (Inner Circle Trader) methodology describing how price often makes a deceptive initial move at the London or New York session open — pulling in participants in one direction — before reversing to reveal the session's true directional bias. Judas Swing Detector systematically identifies, visualizes, and tracks this pattern across every London and New York session open. It shades the trap zone, flags the reversal bar, highlights the true-direction bias, and maintains a rolling 20-session performance log so users can assess how consistently the pattern resolves on their chosen symbol and timeframe. IMPORTANT — Timeframe requirement: This indicator is designed for intraday charts of 1 hour or lower (1m, 5m, 15m, 30m, 1h). Session windows anchor the entire logic, and a 1-hour Judas window cannot be resolved on 4-hour or higher charts. The panel always shows an "Optimal TF: 1m - 1h" footer, and the TF status row turns yellow with "use <=1h" if the current chart exceeds this range. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ UNIQUE EDGE ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Unlike generic session-open or breakout indicators, Judas Swing Detector is built around a defined four-state lifecycle (Pending → Active → Forming → Confirmed / Failed) with ATR-normalized thresholds, so detection remains stable across different volatility regimes and asset classes. Three design choices make it distinct: 1. Independent two-way extremum tracking inside the Judas window — both the maximum upward and maximum downward excursion are recorded, and the larger of the two is declared the fake move when the window closes. This removes ambiguity in choppy openings. 2. Separate fake-move and reversal thresholds. The initial push must exceed a minimum ATR-scaled size to qualify, and the reversal must travel a second ATR-scaled distance beyond the session open — filtering out shallow round trips that would otherwise inflate the signal count. 3. Rolling 20-session statistics panel reporting success rate, average fake distance, and directional bias, giving discretionary traders an objective view of how the pattern is behaving on their instrument before they act on it. 4. Support/resistance-style invalidation zone drawn at the fake-move extremum after confirmation. This gives a clear visual anchor: if price later re-enters this zone from the opposite side during the session, the Judas read is considered broken. The zone is a reference, not an automatic signal. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ METHODOLOGY ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Step 1 — Session anchoring At the first bar of the configured London or New York window the script records the session open price, resets the two-way extremum trackers, and transitions to the Active state. Step 2 — Fake-move accumulation During the window the script tracks both the maximum high and minimum low relative to the session open. Neither is committed as the fake move until the window closes. Step 3 — Window-close evaluation When the window ends the larger excursion (up vs down) becomes the fake direction. If its size reaches the user-defined ATR multiple it qualifies and the script transitions to the Forming state; otherwise it resets to idle. Step 4 — Reversal confirmation In the Forming state the script waits for price to cross the session open in the opposite direction of the fake move and travel at least the configured ATR-scaled distance beyond it. When that happens the swing is Confirmed and the true direction is drawn on the chart. If the reversal window expires without confirmation the swing is recorded as Failed. Step 5 — History log Every confirmed and failed outcome is appended to a rolling 20-session log used by the statistics panel. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ SIGNALS & ALERTS ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ On-chart visuals: • Dashed vertical line at session start (accent color) • "LON" or "NY" label at the session anchor bar (Balanced / Detailed only) • Shaded fake-move box from session open to fake extremum, colored opposite to the true direction (a bearish trap is shaded in the bear tone because the true direction is down — and vice versa) • Optional "Fake" distance label at the extremum (Detailed density only) • Reversal marker "X UP" or "X DOWN" at the confirmation bar, offset from the candles for readability • Horizontal support/resistance-style invalidation zone around the fake extremum, extending 40 bars to the right — a visual reference for where the Judas read would break down if price re-enters the zone Alert conditions (toggle individually in settings): • Judas Swing Forming — fake move has qualified, waiting for reversal • Judas Swing Confirmed — reversal threshold crossed, true direction known • Judas Swing Failed — reversal window expired without confirmation ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ KEY INPUTS ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Session Windows • Track London Open — toggle London session monitoring • London Judas Window (NY time) — session string, default 0200-0300 • Track New York Open — toggle NY session monitoring • NY Judas Window (NY time) — session string, default 0930-1030 • Session Timezone — timezone used to interpret the windows • Reversal Window (minutes) — maximum time after window close in which a valid reversal can still be recorded Detection Logic • Min Fake-Move Size (ATR mult) — minimum excursion required to qualify • Reversal Confirmation (ATR mult) — distance beyond session open needed to confirm the reversal • ATR Length — lookback for threshold scaling Visuals • Show Session Start Line, Show Fake-Move Zone, Show Reversal Marker, Show Invalidation Zone — individual visual toggles • Label Density — Minimal / Balanced / Detailed • Font Size — tiny / small / normal / large (applies to labels and panel) • Theme — Dark / Light (panel only, chart candles unaffected) Panel • Show Info Panel — master toggle • Panel Location — 6 chart positions • Always displays: current session, state, true direction, fake distance, rolling 20-session statistics (success rate, avg distance, bull/bear bias), current TF status, and a footer reminding the optimal timeframe range Alerts — three individual toggles (Forming / Confirmed / Failed) ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ HOW TO USE ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Supported timeframes: 1m, 5m, 15m, 30m, 1h. These resolve a session's early structure cleanly while keeping enough bars inside each Judas window for the extremum tracker to work with. Recommended default: 15m or 1h. Not supported: 4h, 1D, 1W. On these timeframes a single bar exceeds the session window, so nothing is detected. The panel will show a yellow "use <=1h" hint if you accidentally switch to one of these. Recommended instruments: FX majors (EURUSD, GBPUSD, USDJPY), index futures (NQ, ES), liquid crypto (BTC, ETH). The ATR-normalized thresholds keep the logic portable across these asset classes. Workflow suggestion: 1. Apply the indicator and let it observe several sessions so the panel populates a meaningful sample. 2. Review the 20-session success rate on your specific symbol and timeframe. This is not a forecast — it is a descriptive statistic of how the pattern has resolved in recent history on that chart. 3. Use the Forming alert as a heads-up, and the Confirmed alert as the main event. The true-direction arrow marks the bias of the remaining session, not a trade entry or exit. 4. Combine with your own structural context — higher timeframe bias, key levels, liquidity pools — before acting on any signal. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ LIMITATIONS & TRANSPARENCY ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ • Not a strategy. This is a discretionary analysis tool; it neither places orders nor implies any specific trade setup. • Intraday timeframes only. The logic requires 1h or lower charts to resolve the session windows. On 4h, 1D or higher the indicator will not detect anything and the panel will show a "use <=1h" notice. • No forecasting. Displayed statistics describe past behavior on the current chart only and do not imply future performance. • Pattern-dependent. When price opens and trends cleanly in one direction without a fake move, the pattern legitimately will not trigger. Low signal count on such sessions is expected behavior, not a malfunction. • Session boundary sensitivity. Results depend on the configured session windows and timezone. Outside the major FX and equities session hours the ICT framing may not translate cleanly. • Extreme-volatility sessions. During very large gaps or news spikes the ATR thresholds can be dominated by a single bar; users should review the defaults in those conditions. • Symbol coverage. Pip conversion handles forex and JPY pairs explicitly and falls back to tick-based sizing for other asset types. Values are intended as relative magnitudes, not broker-specific pip quotes. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ RISK DISCLOSURE ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ This indicator is provided for educational and analytical purposes only. It does not constitute financial advice, a recommendation, or a solicitation to buy or sell any instrument. Trading involves substantial risk of loss; past pattern behavior is not indicative of future results. Users are responsible for their own trading decisions and for verifying that any signal aligns with their own methodology and risk management. The source code is published under the Mozilla Public License 2.0. Feedback and constructive suggestions are welcome.
Indicador Pine Script®
por AGProLabs
2
StO Price Action - Daily Outside BarShort Summary - Outside Bar indicator with multiple range calculation algorithms - Highlights where the current range fully engulfs the previous - Works with Daily candles in Daily, H4, and H1 timeframes only - Highlights the current bar when it engulfs the previous bar according to the selected method Full Description Overview - Identifies bars where the current period's range fully engulfs the prior period's range - Offers three algorithms for defining the engulfing range: - High/Low: uses absolute high and low values - Open/Close: considers candle direction (bull/bear) and compares opens and closes - Open/Close II: stricter version with exclusive inequalities for engulfing - Engulfing behavior is detected automatically and highlighted for easy recognition - Works on multiple markets but restricted to D, H4, and H1 charts for accuracy Controls - Year lookback (YLB) configurable to filter older bars - Custom background color for highlighting Outside Bars - Simple toggle interface with minimal chart clutter Visual Representation - Highlights engulfing bars with configurable background color - Color transparency adjustable for clarity Usage - Use to identify strong market momentum or potential reversals - Helps spot high-probability setups based on engulfing price action Notes - Only compatible with Daily, H4, and H1 timeframes - Non-repainting: once an Outside Bar is drawn, it will not adjust retroactively - Best used as a market structure reference not a direct trade signal
Indicador Pine Script®
por sto_svc
PRO Investing - LevelPRO Investing - Level 📊 Dynamic Support/Resistance This indicator plots the PRO Investing Level, defined as the midpoint between the highest high and lowest low over the past 252 trading days (default lookback period, equivalent to ~1 year). It acts as a key mean-reversion reference level, useful for identifying potential support/resistance zones or market equilibrium levels. Features: 🕰️ Option to display only today’s level or historical levels. ⚙️ Customizable lookback period for flexibility across timeframes and strategies. 📉 Teal line plotted directly on the chart, highlighting this institutional-grade level. Ideal for traders looking to anchor price action to significant historical ranges—particularly useful in mean-reversion, breakout, or volatility compression strategies.
Indicador Pine Script®
por PRO-Investing
3 Drive Harmonic Pattern [TradingFinder] Three Drive Reversal🔵 Introduction The Three Drive harmonic pattern closely resembles other price structures such as Wedge Pattern and Three Push Pattern, yet it stands out due to its precise use of Fibonacci ratios and symmetrical price movements. This pattern comprises three consecutive and symmetrical price drives, each validated by key Fibonacci ratios (1.27 and 1.618), which help identify critical Potential Reversal Zones (PRZ). Unlike the Wedge, which relies on converging trend lines and can indicate either continuation or reversal, and the Three Push, which lacks defined Fibonacci ratios and symmetry, the Three Drive pattern defines PRZ with greater accuracy, providing traders with high-probability trading opportunities. This pattern appears in both bullish and bearish trends. After the completion of the third drive (Drive 3), it signals the market's readiness to reverse direction. The PRZ in this pattern serves as a crucial zone where price is highly likely to reverse, offering a strategic point for entering or exiting trades. Professional traders utilize the Three Drive pattern and PRZ as essential tools for analyzing and capitalizing on potential market reversals. Bullish Pattern : Bearish Pattern : 🔵 How to Use The Three Drive harmonic pattern is an effective tool for identifying potential reversal points in the market. By utilizing Fibonacci extension levels (1.27 and 1.618) and focusing on the pattern’s symmetry, traders can pinpoint Potential Reversal Zones (PRZ) where the price is likely to change direction. This pattern works in both bearish and bullish scenarios, each with distinct characteristics and trading opportunities. 🟣 Bullish Three Drive Pattern The bullish Three Drive pattern develops during a downtrend, indicating a potential reversal to the upside. Similar to its bearish counterpart, this pattern features three consecutive downward price movements (drives) with retracements in between. The third drive concludes within the PRZ, which serves as a strong support zone where the price is expected to reverse upwards. The first drive begins with a downward movement, followed by a retracement to the 0.618 Fibonacci level. The second drive continues downward to reach a 1.27 or 1.618 Fibonacci extension of the retracement. Finally, the third drive aligns with the PRZ, where a confluence of Fibonacci levels creates a high-probability support zone. In the PRZ, traders look for bullish confirmation signals such as bullish candlestick patterns (e.g., bullish engulfing or pin bars) or increasing trading volume. Once confirmation is observed, the PRZ becomes an ideal entry point for a buy position. Stop-loss orders are placed slightly below the PRZ to minimize risk, while take-profit targets are set at key resistance levels or Fibonacci retracement levels. 🟣 Bearish Three Drive Pattern The bearish Three Drive pattern forms during an uptrend, signaling a potential reversal to the downside. This pattern consists of three consecutive upward price movements (drives) and intermediate retracements. Each drive aligns with Fibonacci extension levels, and the third drive ends within the PRZ, indicating a high probability of a bearish reversal. In the first drive, the price moves upward and then retraces to approximately the 0.618 Fibonacci retracement level, forming the base for the second drive. The second drive then extends upward to the 1.27 or 1.618 Fibonacci extension of the preceding retracement. This process repeats for the third drive, which reaches the PRZ, typically defined by the convergence of Fibonacci levels from previous drives. Once the PRZ is identified, traders look for confirmation signals such as bearish candlestick patterns (e.g., bearish engulfing or pin bars) or declining trading volume. If confirmation is present, the PRZ becomes an optimal zone for entering a sell position. Stop-loss levels are typically placed slightly above the PRZ to protect against pattern failure, and take-profit targets are set at key support levels or Fibonacci retracement levels of the overall structure. 🟣 Three Drive Vs Wedge Pattern Vs 3 Push pattern The Three Drive, Wedge, and Three Push patterns are all used to identify potential price reversal points, but they differ significantly in structure and application. The Three Drive pattern is based on three consecutive and symmetrical price movements, validated by precise Fibonacci ratios (1.27 and 1.618), to define Potential Reversal Zones (PRZ). In contrast, the Wedge pattern relies on converging trend lines and does not require Fibonacci ratios; it can act as either a reversal or continuation pattern. Meanwhile, the Three Push pattern shares similarities with Three Drive but lacks precise symmetry and Fibonacci-based validation. Instead of a PRZ, Three Push focuses on identifying areas of support and resistance, often signaling weakening momentum in the current trend. Among these, the Three Drive pattern is more reliable for pinpointing high-probability reversal zones due to its strict Fibonacci-based and symmetrical structure. 🔵 Setting 🟣 Logical Setting ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition. Show Valid Format : If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern. Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk. Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period. 🟣 Genaral Setting Show : Enter "On" to display the template and "Off" to not display the template. Color : Enter the desired color to draw the pattern in this parameter. LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness. LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries. 🟣 Alert Setting Alert : On / Off Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar". Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default. 🔵 Conclusion The Three Drive pattern is a highly effective harmonic tool for identifying potential reversal points in the market. By leveraging its symmetrical structure and precise Fibonacci ratios (1.27 and 1.618), this pattern provides traders with clear entry and exit signals, enhancing the accuracy of their trades. Whether in bullish or bearish scenarios, the identification of the Potential Reversal Zone (PRZ) serves as a critical aspect of this pattern, enabling traders to anticipate price movements with greater confidence. Compared to similar patterns like Wedge and Three Push, the Three Drive pattern stands out for its stringent reliance on Fibonacci levels and symmetrical price movements, making it a more robust choice for forecasting reversals. However, as with any technical analysis tool, its effectiveness increases when combined with confirmation signals, such as candlestick patterns, volume analysis, and broader market context. Mastering the Three Drive pattern requires practice and attention to detail, especially in accurately defining the PRZ and ensuring the pattern adheres to its criteria. Traders who consistently apply this pattern as part of a comprehensive trading strategy can capitalize on high-probability opportunities and improve their overall performance in the market.
Indicador Pine Script®
por TradingFinder
3
K's Reversal Indicator IK's reversal indicator I is a special combination between Bollinger bands and the MACD oscillator. It is a contrarian indicator that depends on the following conditions: • A buy signal is generated whenever the current market price is below the 100-period lower Bollinger band while simultaneously, the MACD value must be above its signal line. At the same time, the previous MACD value must be below its previous signal line. • A sell (short) signal is generated whenever the current market price is above the 100-period upper Bollinger band while simultaneously, the MACD value must be below its signal line. At the same time, the previous MACD value must be above its previous signal line. The way to use K's reversal indicator is to combine it with your already long/short bias in a sideways/range market in order to maximize the probability of success. Limitations of the indicator include the following: • There are no clear exit rules that work well on average across the markets. Even though K’s reversal indicator gives contrarian signals, it does not show when to exit the positions. • As with other indicators, it underperforms on some markets and is not to be used everywhere. • False signals tend to occur during trending markets but there is no proven way to detect a false signal.
Indicador Pine Script®
por Sofien-Kaabar
37
Fractal Breakout V2Version 2 of my fractal pattern aid ( Version 1 ). I added a bouncing line between the high and low trend lines, connecting consecutive extreme points. I also chased down a pesky bug in the slope calculation...and for now I have disabled the ability to change resolution basis for extreme detection (e.g. 30m on a 1hr chart). For fun, I added some shading to make it more apparent at a glance what is happening, but if you find it gimmicky, there's an option to turn that off. I am inexperienced with pattern recognition, so please send feedback if you have any ideas that would make this more useful. Thanks! Lemrin
Indicador Pine Script®
por Lemrin
11
3-Bar-Reversal-Pattern Strategy This startegy based on 3-day pattern reversal described in "Are Three-Bar Patterns Reliable For Stocks" article by Thomas Bulkowski, presented in January,2000 issue of Stocks&Commodities magazine. That pattern conforms to the following rules: - It uses daily prices, not intraday or weekly prices; - The middle day of the three-day pattern has the lowest low of the three days, with no ties allowed; - The last day must have a close above the prior day's high, with no ties allowed; - Each day must have a nonzero trading range.
Indicador Pine Script®
por HPotter
10