PROTECTED SOURCE SCRIPT

Trendline Pairs (Deep Search)

Updated

After getting good response on Wedge-and-Flag-Finder-Multi-zigzag, I thought I will build little bit further into the script.

Main differences

Uses deep search algorithm for patterns instead of just using last 5 pivots
Flag pattern is removed so that we can concentrate mainly on trend line pairs
More number of overall patterns.

Trend Patterns Included

Channel - Rising, Falling, Ranging
Wedge - Rising, Falling + Expanding, Contracting types
Triangle - Expanding, Contracting
Indeterminate - Happens in rare cases where angle calculation results in error. It may still belong to one of the above patterns.

Please note:

This is published as free to use but protected source code indicator. This is because the script contains deep search algorithm which isn't made public yet and is also been used in other invite only scripts.
Will not be adding alerts to this indicator.

Release Notes

Fixing chart :)

Release Notes

Fixed typo mistakes

Release Notes

Added alert for new pattern types on demand.

Release Notes

Updated libraries, removed max_bars_back.

Release Notes

Fixing max bars back issue as the earlier fix did not work in lower timeframes.

Release Notes

Fixing errors related to max bars reference.

Protected script

This script is published closed-source and you may privately use it freely.

Want to use this script on a chart?

Trendoscope

Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Telegram: p.trendoscope.io/telegram
Rate us : trustpilot.com/review/trendoscope.io

Also on:

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.