OPEN-SOURCE SCRIPT
BearScope Pattern Radar
BearScope - Bearish Pattern Scanner
OVERVIEW
BearScope is a bearish chart-pattern research indicator that identifies five commonly followed bearish formations on the current symbol and timeframe.
The indicator displays pattern-shaped outlines directly over the price chart and provides a separate lower panel showing when each formation was identified throughout the available chart history.
PATTERNS IDENTIFIED
• Classic Bear Flag
• Descending Triangle
• Rising Wedge
• Double Top
• Inverse Cup and Handle
HOW IT WORKS
Classic Bear Flag
BearScope searches for a strong downward flagpole followed by a controlled, upward-sloping consolidation channel. The upper and lower channel slopes must be reasonably parallel, and the consolidation must remain within the selected maximum retracement.
Descending Triangle
The indicator looks for approximately horizontal support combined with descending resistance and repeated tests near the support area. The pattern is identified when price confirms a downside breakdown beneath the fitted support line.
Rising Wedge
BearScope searches for rising upper and lower boundaries that converge as the pattern develops. The lower boundary must rise faster than the upper boundary, creating a narrowing structure. Identification requires a confirmed downside breakdown.
Double Top
Two confirmed pivot highs must occur within the selected price tolerance and bar-separation limits. A meaningful decline must appear between the two tops.
Because pivot highs require subsequent candles for confirmation, a Double Top is recognized only after the selected pivot-strength period has elapsed.
Inverse Cup and Handle
The indicator searches for two similar lower rim areas separated by a rounded price advance, followed by a smaller upward handle. Identification requires price to break below the rim area.
CHART DISPLAY
Pattern-shaped outlines are drawn directly on the main price chart:
• Red — Classic Bear Flag
• Yellow — Descending Triangle
• Orange — Rising Wedge
• Purple — Double Top
• Aqua — Inverse Cup and Handle
LOWER PATTERN PANEL
The lower panel contains five permanently labeled rows corresponding to the five pattern types.
• Faint dotted lines identify each pattern row.
• Thick colored segments show the complete historical duration of identified patterns.
• Colored confirmation markers identify the candle on which the script confirmed the pattern.
• Pattern names remain positioned at the left edge of the visible chart and automatically adjust when the chart is scrolled or zoomed.
ALERTS
Individual alert conditions are available for:
• Bear Flag
• Descending Triangle breakdown
• Rising Wedge breakdown
• Double Top
• Inverse Cup and Handle breakdown
IMPORTANT INFORMATION
BearScope evaluates only the symbol and timeframe currently displayed on the chart. It does not scan the entire stock market or a TradingView watchlist.
Pattern detection is based on mathematical approximations of price structure. Real-world formations are subjective, and no automated method will identify every valid pattern or exclude every questionable one.
Historical markings show when the script’s programmed conditions were satisfied. They are not evidence that a trade would have been profitable.
Double Top detection uses confirmed pivots and therefore occurs after the actual pivot candle. Pattern drawings may extend back to the formation’s earlier bars, but the information was not available until confirmation occurred.
DISCLAIMER
BearScope is provided solely for educational, informational and historical research purposes. It is not financial or investment advice and does not constitute a recommendation to buy, sell or short any security.
A detected pattern does not guarantee a downside move. Bearish formations can fail, reverse or break upward. Users should independently evaluate trend, volume, liquidity, market conditions, news, risk tolerance and position sizing before making any trading decision.
Past performance and historical chart patterns are not reliable indicators of future results.
OVERVIEW
BearScope is a bearish chart-pattern research indicator that identifies five commonly followed bearish formations on the current symbol and timeframe.
The indicator displays pattern-shaped outlines directly over the price chart and provides a separate lower panel showing when each formation was identified throughout the available chart history.
PATTERNS IDENTIFIED
• Classic Bear Flag
• Descending Triangle
• Rising Wedge
• Double Top
• Inverse Cup and Handle
HOW IT WORKS
Classic Bear Flag
BearScope searches for a strong downward flagpole followed by a controlled, upward-sloping consolidation channel. The upper and lower channel slopes must be reasonably parallel, and the consolidation must remain within the selected maximum retracement.
Descending Triangle
The indicator looks for approximately horizontal support combined with descending resistance and repeated tests near the support area. The pattern is identified when price confirms a downside breakdown beneath the fitted support line.
Rising Wedge
BearScope searches for rising upper and lower boundaries that converge as the pattern develops. The lower boundary must rise faster than the upper boundary, creating a narrowing structure. Identification requires a confirmed downside breakdown.
Double Top
Two confirmed pivot highs must occur within the selected price tolerance and bar-separation limits. A meaningful decline must appear between the two tops.
Because pivot highs require subsequent candles for confirmation, a Double Top is recognized only after the selected pivot-strength period has elapsed.
Inverse Cup and Handle
The indicator searches for two similar lower rim areas separated by a rounded price advance, followed by a smaller upward handle. Identification requires price to break below the rim area.
CHART DISPLAY
Pattern-shaped outlines are drawn directly on the main price chart:
• Red — Classic Bear Flag
• Yellow — Descending Triangle
• Orange — Rising Wedge
• Purple — Double Top
• Aqua — Inverse Cup and Handle
LOWER PATTERN PANEL
The lower panel contains five permanently labeled rows corresponding to the five pattern types.
• Faint dotted lines identify each pattern row.
• Thick colored segments show the complete historical duration of identified patterns.
• Colored confirmation markers identify the candle on which the script confirmed the pattern.
• Pattern names remain positioned at the left edge of the visible chart and automatically adjust when the chart is scrolled or zoomed.
ALERTS
Individual alert conditions are available for:
• Bear Flag
• Descending Triangle breakdown
• Rising Wedge breakdown
• Double Top
• Inverse Cup and Handle breakdown
IMPORTANT INFORMATION
BearScope evaluates only the symbol and timeframe currently displayed on the chart. It does not scan the entire stock market or a TradingView watchlist.
Pattern detection is based on mathematical approximations of price structure. Real-world formations are subjective, and no automated method will identify every valid pattern or exclude every questionable one.
Historical markings show when the script’s programmed conditions were satisfied. They are not evidence that a trade would have been profitable.
Double Top detection uses confirmed pivots and therefore occurs after the actual pivot candle. Pattern drawings may extend back to the formation’s earlier bars, but the information was not available until confirmation occurred.
DISCLAIMER
BearScope is provided solely for educational, informational and historical research purposes. It is not financial or investment advice and does not constitute a recommendation to buy, sell or short any security.
A detected pattern does not guarantee a downside move. Bearish formations can fail, reverse or break upward. Users should independently evaluate trend, volume, liquidity, market conditions, news, risk tolerance and position sizing before making any trading decision.
Past performance and historical chart patterns are not reliable indicators of future results.
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.
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.
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.