Volume-Enhanced Candlestick Patterns 1

Overview

Scans for four major candlestick reversal patterns:
Harami
Engulfing
Morning/Evening Star
Piercing Line/Dark Cloud Cover
Underlying logic assumes that, at a turning point, the dominant side (bulls or bears) often delivers a “final” push—either a last surge of buying or selling—before the reversal truly takes hold.

Pattern Toggles
Each individual pattern can be turned on or off in the inputs.
Enable only the patterns you want to monitor to reduce chart clutter and speed up performance.

Volume Filter Toggle
On: Requires volume-based exhaustion or climax to confirm each pattern.
Off: Relies purely on price-action candlestick logic (no volume checks).

Grouped Labels & Confluence
When one or more patterns trigger on the same bar close, a single label is drawn:
Grouping multiple confirmed patterns on one bar increases confluence and signal strength.

Climax Volume × Multiplier
Adjusting this input affects signal frequency and conviction:
Higher multiplier → fewer signals but with stronger volume confirmation
Lower multiplier → more signals, each with a looser volume requirement

Alerts
Built-in alert condition for each individual pattern (bullish/bearish Harami, Engulfing, Star, Piercing, Dark Cloud Cover), so you can receive real-time notifications whenever a confirmation occurs.

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Disclaimer

Not Financial Advice. This script is for educational and research purposes only.

Use as Part of a Larger System. It should not be used in isolation; combine it with your own risk management rules, additional indicators, and broader market analysis.

No Guarantees. Candlestick patterns and volume filters can improve signal quality, but they do not guarantee profitable trades. Always perform your own due diligence before entering any position.