🔵 Introduction The "Three Drive" pattern is one of the light "RTM" setups suitable for identifying price trend reversals. For this reason, this pattern is considered one of the "Reversal Patterns." 🟣 Bullish 3 Drive At a price bottom, a formation occurs where the negative trend appears to continue, and lower lows are made. However, the second low penetrates...
This script identifies chart patterns: wedges, flags, triangles on the chart It has many settings. You can choose by which extremums you want to identify patterns - by the edges of wicks (tails, shadows), or by the edges of candle bodies . You can also adjust the accuracy - how smooth and accurate the shapes must be in order for them to be considered wedges...
Before getting into the script, I would like to explain bit of history around this project. Wolfe was in the back of my mind for some time and I had several attempts so far. 🎯Initial Attempt When I first developed harmonic patterns, I got many requests from users to develop script to automatically detect Wolfe formation. I thought it would be easy and started...