OPEN-SOURCE SCRIPT
Gabriel Rectangle Pattern Detector w/Target
Flat tops + flat bottoms channel with ◯ ring markers on every touch (min-touch counts tunable); breakout point marked ● the bar it closes beyond a line; STOP LOSS line drawn immediately at the opposite channel line; target zone = rectangle height projected beyond the breakout; STOPPED OUT labeled if price closes back through the stop. Mirror (downside breakout) included, plus alerts at formation, breakout, and target.
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.