OPEN-SOURCE SCRIPT
Gabriel Contracting Triangle Detector w/Target
Five waves a-b-c-d-e labeled on chart, each subsequent wave shorter than the previous (tunable contraction ratio), converging a-c and b-d trendlines drawn as dashed rays, breakout confirmed on close through the b-d line beyond e, target zone = widest width (a-b) projected from breakout, alerts at completion/breakout/target. Bearish mirror included.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.