OPEN-SOURCE SCRIPT

Quantum Candle Scanner [JOAT]

Quantum Candle Scanner [JOAT] - Advanced Multi-Pattern Recognition System

Introduction and Purpose

Quantum Candle Scanner is an open-source overlay indicator that detects multiple candlestick patterns including engulfing patterns, kicker patterns, inside bar setups, momentum candles, and higher-high/lower-low sequences. The core problem this indicator solves is that traders often miss patterns because they're looking for only one type. Different patterns work better in different market conditions.

This indicator addresses that by scanning for five distinct pattern types simultaneously, giving traders a comprehensive view of price action signals.

Why These Five Pattern Types Work Together

Each pattern type identifies different market behavior:

1. Engulfing Patterns - Classic reversal signals where current candle completely engulfs the previous candle. Best for identifying potential turning points.

2. Kicker Patterns - Strong reversal signals with gap confirmation. The current candle opens beyond the previous candle's open with opposite direction. Best for identifying high-momentum reversals.

3. Inside Bar Patterns - Consolidation breakout signals where a candle's range is contained within the previous candle, followed by a breakout. Best for identifying compression before expansion.

4. Momentum Candles - Identifies the largest body candle over a lookback period. Best for spotting institutional activity.

5. HH/HL and LH/LL Sequences - Three-bar structure patterns showing trend continuation. Best for confirming trend direction.

How the Detection Works

Engulfing Pattern:

Pine Script®

Kicker Pattern:

Pine Script®

Inside Bar:

Pine Script®

HH/HL Sequence:

Pine Script®

Optional Filters

ATR Filter - Only shows patterns where candle body exceeds ATR (strong candles only)
Body Minimum % - Requires minimum body percentage for engulfing patterns
Close Beyond Prior H/L - Requires engulfing candle to close beyond prior high/low

Dashboard Information

Engulfing - Total engulfing patterns detected
Kicker - Kicker pattern count
Inside Bar - Inside bar breakout count
HH/LL Seq - Structure sequence count
Total - Combined pattern count

How to Use This Indicator

For Reversal Trading:
1. Look for engulfing or kicker patterns at key support/resistance
2. Confirm with HH/HL or LH/LL sequence breaking
3. Enter with stop beyond the pattern

For Breakout Trading:
1. Identify inside bar setups (consolidation)
2. Enter on breakout candle in direction of break
3. Use the inside bar range for stop placement

For Trend Confirmation:
1. Use HH/HL sequences to confirm uptrend structure
2. Use LH/LL sequences to confirm downtrend structure
3. Momentum candles indicate institutional participation

Input Parameters

Detect Engulfing/Kicker/Inside Bar/Momentum/HHLL (all true) - Toggle each pattern type
Min Body % for Engulfing (0) - Minimum body percentage
ATR Filter (false) - Only show strong candles
Engulf Must Close Beyond Prior H/L (true) - Stricter engulfing definition
Compact Mode (false) - Shorter labels for cleaner charts

Timeframe Recommendations

1H-Daily: Best for reliable pattern detection
15m-30m: More patterns but higher noise
Use Compact Mode on lower timeframes

Limitations

Pattern detection is mechanical and does not consider context
Not all patterns lead to successful trades
Kicker patterns are rare but powerful
Inside bar breakouts can fail (false breakouts)

Open-Source and Disclaimer

This script is published as open-source under the Mozilla Public License 2.0 for educational purposes.

This indicator does not constitute financial advice. Pattern detection does not guarantee trade outcomes. Always use proper risk management.

- Made with passion by officialjackofalltrades

开源脚本

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免责声明

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开源脚本

officialjackofalltrades

The AI Trading Ecosystem, Built to win trades 📈

Get Full Access 👇

jackofalltrades.vip 🌐

t.me/jackofalltradesvip 🃏