OPEN-SOURCE SCRIPT
Gabriel Falling & Rising Wedge Detector w/Breakout Price Target
How it works:
Resistance line (red dashed) from last 2 pivot highs; support line (blue dashed) from last 2 pivot lows — both must slope the same direction and converge (min convergence % tunable)
Breakout marker: purple "▲ BREAKOUT" label on close above resistance (falling wedge) or "▼ BREAKDOWN" below support (rising wedge)
Target zone: orange box + price label, projected either by wedge height at its widest point or back to the pattern start (selectable); zone width adjustable
Alerts fire with ticker, timeframe, breakout price, and target; wedge invalidates on wrong-side escape, apex reached without breakout, or age limit
Tunables: pivot length, min/max wedge width in bars, convergence %, per-direction toggles.
Resistance line (red dashed) from last 2 pivot highs; support line (blue dashed) from last 2 pivot lows — both must slope the same direction and converge (min convergence % tunable)
Breakout marker: purple "▲ BREAKOUT" label on close above resistance (falling wedge) or "▼ BREAKDOWN" below support (rising wedge)
Target zone: orange box + price label, projected either by wedge height at its widest point or back to the pattern start (selectable); zone width adjustable
Alerts fire with ticker, timeframe, breakout price, and target; wedge invalidates on wrong-side escape, apex reached without breakout, or age limit
Tunables: pivot length, min/max wedge width in bars, convergence %, per-direction toggles.
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.