OPEN-SOURCE SCRIPT
Gabriel Pennant Pattern Detector w/Breakout Target
Flagpole (teal line + label): sharp move ≥ min % detected directly before consolidation
Pennant: converging trendlines (falling red upper from 2 pivot highs, rising blue lower from 2 pivot lows), labeled, with compactness check vs flagpole
Bullish: "▲ BREAKOUT" above upper line; bearish mirror: "▼ BREAKDOWN" below lower line
Target: classic flagpole-height projection (or pennant height, selectable) — orange zone + price label + alert
Tunables: pole length/move %, pivot length, min/max pennant width, max depth %, zone width. Invalidates on wrong-side escape, apex without breakout, or age-out.
Pennant: converging trendlines (falling red upper from 2 pivot highs, rising blue lower from 2 pivot lows), labeled, with compactness check vs flagpole
Bullish: "▲ BREAKOUT" above upper line; bearish mirror: "▼ BREAKDOWN" below lower line
Target: classic flagpole-height projection (or pennant height, selectable) — orange zone + price label + alert
Tunables: pole length/move %, pivot length, min/max pennant width, max depth %, zone width. Invalidates on wrong-side escape, apex without breakout, or age-out.
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.