Bearish 3 Bars Reversal Pattern

This TradingView Pine Script indicator identifies and highlights a bearish 3-bar reversal pattern on your chart. The script also calculates the percentage difference between the current low and the previous high, displaying this value on the chart when the pattern is detected.

Features:

Pattern Detection:

The script detects a bearish 3-bar reversal pattern when the high of the previous bar is higher than the high of the bar before it, and the current high is lower than the previous high.
Percentage Difference Calculation:

When the pattern is detected, the script calculates the percentage difference between the current low and the previous high. This percentage is displayed on the chart.
Visual Indicators:

When a bearish 3-bar reversal pattern is detected, a label is created on the chart showing the calculated percentage difference. The label is styled with a downward arrow, red color, and white text for clear visibility.
Alerts:

An alert condition is set up to notify users when the bearish 3-bar reversal pattern is detected. This allows traders to take timely action based on the pattern.