OPEN-SOURCE SCRIPT
4 Candle Pattern [odnac]
Long Signal (▲)
Short Signal (▼)
Settings
- Candle 1: Bearish
- Candles 2, 3, 4: Bullish
- A price gap exists between Candle 2 high and Candle 4 low
- Candle 1's high falls within that gap
Short Signal (▼)
- Candle 1: Bullish
- Candles 2, 3, 4: Bearish
- A price gap exists between Candle 2 low and Candle 4 high
- Candle 1's low falls within that gap
Once a pattern is detected, a line is drawn from Candle 1's low (short) or high (long).
⚠️ Note: The signal marker (▼/▲) is plotted on Candle 1, which is 3 bars in the past at the time of detection.
Since the signal appears only after all 4 candles are completed, wait for price to retrace back to the line before entering.
Settings
- Show Signals: Toggle the ▼/▲ markers
- Show Lines: Toggle the entry level lines
- Short / Long Color: Customize signal colors
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.