█ This indicator shows V bottom & V top patterns as well as potential V bottom & V top.
These V bottom & V top are chart powerful reversal patterns.
They appear in all markets and time-frames, but due to the nature of the aggressive moves that take place when a market reverses direction, it can be difficult to identify this pattern in real-time.
To address this...
This indicator is based on ta.pivothigh and ta.pivotlow function. And with the help of different ph and pl I am detecting double top and double bottom.
1. All signal are on realtime means no repaint
2. Able to detect precise double top & bottom
Pivot Length : Default 10 => Use to detect pivot point
This is zigzag based double top/bottom indicator. Code is same as : Double-Top-Bottom-Ultimate
But, republishing it to make it available open source.
Recognition - Checks on Zigzag if LH is followed by HH
Confirmation - When low crosses under last lower pivot point on zigzag
Invalidation - When high crosses over HH
I may not be able to spend much time on the harmonic patterns and realized that there are not much open source scripts on them either. Hence, decided to release open source version which can be used by other developers for reference and build things on top of it.
Original script is protected and can be found here:
Logical ratios of patterns are coded as below:...
Here is an attempt to identify double top/bottom based on pivot high/lows.
Logic is simple.
Last two pivot High Lows make W shape
Last Pivot Low is higher than previous Last Pivot Low.
Last Pivot High is lower than previous last Pivot High.
Price has not gone below Last Pivot Low
Price breaks out of last Pivot High to complete W...
I decided to make this formerly invite only script public (you can find the invite only version here
If you are part of the invite only you don't need to change scripts. I will push improvements first on the invite only script but in time it will come to this version as well.
I would love to know your ideas and thoughts on how this indicator can be improved, so...