OPEN-SOURCE SCRIPT
Flag & Pole Pattern Tp-sl [JPT]
🔷 OVERVIEW
The Flag & Pole Pattern TP-SL [JPT] indicator detects bullish and bearish flag patterns using price action, ATR-based pole detection, and confirmed swing pivots. It identifies potential breakout opportunities and displays BUY/SELL signals directly on the chart.
🔷 HOW IT WORKS
• Pole Detection: Identifies a strong upward or downward price movement using ATR.
• Flag Formation: Detects flag structures using confirmed pivot highs and lows.
• Trendlines: Draws projected resistance and support boundaries around the flag.
• Breakout Confirmation: Generates a BUY signal when a candle closes above bullish flag resistance, or a SELL signal when a candle closes below bearish flag support.
• Take-Profit & Stop-Loss: Displays a blue target zone and a red stop-loss zone based on the entry price and flag boundary.
• Risk-Reward Ratio: Calculates the take-profit level using a configurable risk-reward ratio, set to 1.3:1 by default.
🔷 HOW TO USE
1. Add the indicator to your TradingView chart.
2. Adjust the pole lookback, ATR multiplier, pivot length, and maximum flag length to suit your trading timeframe.
3. Wait for a valid flag structure and a confirmed breakout signal.
4. For a BUY setup, consider entry after the candle closes above resistance. For a SELL setup, consider entry after the candle closes below support.
5. Review the displayed entry, stop-loss, and target levels before taking a trade.
6.Configure TradingView alerts to receive notifications when flag patterns or breakout signals are detected.
🔷 IMPORTANT NOTE
This Signals may be delayed because pivots require confirmation, and false breakouts can occur. The displayed risk-reward ratio is a calculation, not a prediction of the outcome. Always use proper risk management and validate the indicator through backtesting before trading with real capital.
The Flag & Pole Pattern TP-SL [JPT] indicator detects bullish and bearish flag patterns using price action, ATR-based pole detection, and confirmed swing pivots. It identifies potential breakout opportunities and displays BUY/SELL signals directly on the chart.
🔷 HOW IT WORKS
• Pole Detection: Identifies a strong upward or downward price movement using ATR.
• Flag Formation: Detects flag structures using confirmed pivot highs and lows.
• Trendlines: Draws projected resistance and support boundaries around the flag.
• Breakout Confirmation: Generates a BUY signal when a candle closes above bullish flag resistance, or a SELL signal when a candle closes below bearish flag support.
• Take-Profit & Stop-Loss: Displays a blue target zone and a red stop-loss zone based on the entry price and flag boundary.
• Risk-Reward Ratio: Calculates the take-profit level using a configurable risk-reward ratio, set to 1.3:1 by default.
🔷 HOW TO USE
1. Add the indicator to your TradingView chart.
2. Adjust the pole lookback, ATR multiplier, pivot length, and maximum flag length to suit your trading timeframe.
3. Wait for a valid flag structure and a confirmed breakout signal.
4. For a BUY setup, consider entry after the candle closes above resistance. For a SELL setup, consider entry after the candle closes below support.
5. Review the displayed entry, stop-loss, and target levels before taking a trade.
6.Configure TradingView alerts to receive notifications when flag patterns or breakout signals are detected.
🔷 IMPORTANT NOTE
This Signals may be delayed because pivots require confirmation, and false breakouts can occur. The displayed risk-reward ratio is a calculation, not a prediction of the outcome. Always use proper risk management and validate the indicator through backtesting before trading with real capital.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
📈 FREE TELEGRAM CHANNEL
🥇 Free Daily Forex, Gold & BTC Trade Signals
📚 Daily Trading Lessons & Technical Analysis
Learn, improve, and follow the market with us — completely FREE.
📲 Join Now: t.me/JosProTrader_050
🥇 Free Daily Forex, Gold & BTC Trade Signals
📚 Daily Trading Lessons & Technical Analysis
Learn, improve, and follow the market with us — completely FREE.
📲 Join Now: t.me/JosProTrader_050
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
📈 FREE TELEGRAM CHANNEL
🥇 Free Daily Forex, Gold & BTC Trade Signals
📚 Daily Trading Lessons & Technical Analysis
Learn, improve, and follow the market with us — completely FREE.
📲 Join Now: t.me/JosProTrader_050
🥇 Free Daily Forex, Gold & BTC Trade Signals
📚 Daily Trading Lessons & Technical Analysis
Learn, improve, and follow the market with us — completely FREE.
📲 Join Now: t.me/JosProTrader_050
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.