Taiwan Pagoda Chart (Triple)

Indicator Name
Taiwan Pagoda Chart
This is a technical analysis charting method similar to candlesticks but with different logic, designed to filter market noise and identify trend reversal points.

Key Features
Dynamic Pagoda Line Plotting

Unlike traditional candlesticks that plot every bar, the Pagoda line only updates when the price breaks above the previous high or below the previous low by a certain threshold.
Bullish (rising) bars are shown in green; bearish (falling) bars in red.
Multiple Optional Filters

T-value filter: Sets a minimum price change threshold to avoid signals from minor fluctuations.
Price percentage filter: Dynamically adjusts sensitivity based on a percentage of the previous Pagoda bar’s range.
ATR volatility filter: Uses Average True Range (ATR) to widen the threshold during high volatility and tighten it during low volatility.
Visual Design

Semi-transparent Pagoda structure for better visual context.
A bold central trend line to clearly show the underlying market direction.
Trading Signal Alerts

Bullish reversal (turning green): Potential buy signal.
Bearish reversal (turning red): Potential sell signal.
Optional on-chart labels (B / S) and support for TradingView alert notifications.
Highly Customizable
Users can freely adjust colors, line width, filtering rules, and signal visibility—making it adaptable to various trading styles.

Ideal Use Cases
Trend following
Reducing false breakouts
Helping medium-to-long-term traders identify high-probability entry and exit points