OPEN-SOURCE SCRIPT
Chart Pattern Structure
Chart Pattern Structure detects classic chart patterns by analyzing confirmed swing highs and swing lows rather than relying on simple visual pattern matching.
The indicator identifies Double Top, Double Bottom, Head & Shoulders, and Inverse Head & Shoulders structures based on swing sequence, price similarity, and pattern width. Detected patterns are displayed directly on the chart with their underlying swing structure and neckline.
The goal is to provide a clearer structural view of how a chart pattern develops, helping traders study potential formations and their key structural levels without turning the pattern itself into an automatic trading signal.
Pattern detection uses confirmed pivots, so newly forming swings are only recognized after sufficient price action has developed. This helps keep the structure more consistent and avoids treating every temporary price fluctuation as a completed pattern.
Disclaimer:
For educational and informational purposes only. Detected patterns are based on historical price action and do not guarantee future market movements or trading results. Not financial advice.
The indicator identifies Double Top, Double Bottom, Head & Shoulders, and Inverse Head & Shoulders structures based on swing sequence, price similarity, and pattern width. Detected patterns are displayed directly on the chart with their underlying swing structure and neckline.
The goal is to provide a clearer structural view of how a chart pattern develops, helping traders study potential formations and their key structural levels without turning the pattern itself into an automatic trading signal.
Pattern detection uses confirmed pivots, so newly forming swings are only recognized after sufficient price action has developed. This helps keep the structure more consistent and avoids treating every temporary price fluctuation as a completed pattern.
Disclaimer:
For educational and informational purposes only. Detected patterns are based on historical price action and do not guarantee future market movements or trading results. Not financial advice.
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.