OPEN-SOURCE SCRIPT
RAMO Triangle & Wedge Family Pro V1.2.4.2 - MTF Bias, Alerts & T
RAMO Triangle & Wedge Family Pro V1.2.4.2 is an advanced pattern-detection indicator designed to identify, classify, and monitor triangle and wedge formations with multi-timeframe context.
The script currently supports:
Ascending Triangle
Descending Triangle
Symmetrical Triangle
Rising Wedge
Falling Wedge
The detection engine is based on confirmed pivot structures, multi-candidate boundary analysis, convergence, touch quality, containment, pattern duration, apex position, and structural validation. Instead of forcing every consolidation into a pattern, the system attempts to reject weak or inconsistent geometry.
For ascending and descending triangles, horizontal support/resistance areas are additionally validated using pivot clustering rather than relying only on trendline slope.
For symmetrical triangles, direction is intentionally kept neutral before a confirmed breakout. A separate multi-timeframe RSI and volume bias system evaluates larger timeframes to provide a directional preference such as LONG or SHORT bias without treating that bias as a confirmed trade signal. The actual direction is still determined by a confirmed breakout.
The indicator also includes a parent/child timeframe structure check. Lower-timeframe formations can be compared with larger-timeframe structures to reduce conflicting classifications when both charts are showing the same broader pattern.
Breakout and Retest Logic
Breakouts are evaluated using candle closes rather than wick-only movements. After a confirmed breakout, the indicator can track a possible retest and update the formation state accordingly.
The panel displays:
Pattern type
Pattern stage
Confidence score
Direction / MTF bias
Entry reference
Alarm level
Stop reference
Target
Touch count / formation progress
Pattern detected on another relevant timeframe
For symmetrical triangles, both possible upside and downside targets may be displayed before the breakout. Once direction is confirmed, the active target is updated accordingly.
Wedge Direction Logic
Rising Wedge: bearish / SHORT bias after downside confirmation.
Falling Wedge: bullish / LONG bias after upside confirmation.
The wedge engine operates separately from the triangle-selection engine so that wedge candidates do not distort or replace otherwise valid triangle geometry.
Alerts
The script provides alert conditions for:
LONG breakout
SHORT breakout
New triangle or wedge structure
Rising wedge detection
Falling wedge detection
Retest
Failed breakout
The displayed alarm level is intended to show the price area where the relevant breakout or retest condition becomes important.
Important Disclaimer
This indicator is provided for educational, informational, and technical-analysis purposes only. It does not constitute financial or investment advice and is not a recommendation to buy, sell, or hold any financial asset.
Pattern detection, RSI/volume bias, entry references, alarm levels, stop levels, breakout conditions, and projected targets are technical calculations only and may fail or produce false signals. Historical pattern behavior does not guarantee future results.
Always perform your own research and use appropriate risk management before making any trading or investment decision.
Comments and suggestions for improving the indicator are always welcome.
The script currently supports:
Ascending Triangle
Descending Triangle
Symmetrical Triangle
Rising Wedge
Falling Wedge
The detection engine is based on confirmed pivot structures, multi-candidate boundary analysis, convergence, touch quality, containment, pattern duration, apex position, and structural validation. Instead of forcing every consolidation into a pattern, the system attempts to reject weak or inconsistent geometry.
For ascending and descending triangles, horizontal support/resistance areas are additionally validated using pivot clustering rather than relying only on trendline slope.
For symmetrical triangles, direction is intentionally kept neutral before a confirmed breakout. A separate multi-timeframe RSI and volume bias system evaluates larger timeframes to provide a directional preference such as LONG or SHORT bias without treating that bias as a confirmed trade signal. The actual direction is still determined by a confirmed breakout.
The indicator also includes a parent/child timeframe structure check. Lower-timeframe formations can be compared with larger-timeframe structures to reduce conflicting classifications when both charts are showing the same broader pattern.
Breakout and Retest Logic
Breakouts are evaluated using candle closes rather than wick-only movements. After a confirmed breakout, the indicator can track a possible retest and update the formation state accordingly.
The panel displays:
Pattern type
Pattern stage
Confidence score
Direction / MTF bias
Entry reference
Alarm level
Stop reference
Target
Touch count / formation progress
Pattern detected on another relevant timeframe
For symmetrical triangles, both possible upside and downside targets may be displayed before the breakout. Once direction is confirmed, the active target is updated accordingly.
Wedge Direction Logic
Rising Wedge: bearish / SHORT bias after downside confirmation.
Falling Wedge: bullish / LONG bias after upside confirmation.
The wedge engine operates separately from the triangle-selection engine so that wedge candidates do not distort or replace otherwise valid triangle geometry.
Alerts
The script provides alert conditions for:
LONG breakout
SHORT breakout
New triangle or wedge structure
Rising wedge detection
Falling wedge detection
Retest
Failed breakout
The displayed alarm level is intended to show the price area where the relevant breakout or retest condition becomes important.
Important Disclaimer
This indicator is provided for educational, informational, and technical-analysis purposes only. It does not constitute financial or investment advice and is not a recommendation to buy, sell, or hold any financial asset.
Pattern detection, RSI/volume bias, entry references, alarm levels, stop levels, breakout conditions, and projected targets are technical calculations only and may fail or produce false signals. Historical pattern behavior does not guarantee future results.
Always perform your own research and use appropriate risk management before making any trading or investment decision.
Comments and suggestions for improving the indicator are always welcome.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.