PROTECTED SOURCE SCRIPT
Chart pattern - Head and Shoulders
Updated
This script identifies the Head and Shoulders chart pattern as well as the reversed Head and Shoulders chart pattern.
It has many settings. For example, you can choose by what points you want to identify patterns - along the edges of wicks (tails, shadows), or along the edges of candle bodies.
In addition, there are several settings with which you can determine the parameters of the detected patterns - the length and ratio of the lines included in it.
The "Sensitivity" parameter will allow you to control the frequency of detected patterns, depending on whether you want the patterns to be detected more often, or if they cover a larger number of candles and thus be more reliable.
You can also customize your styles.
All key settings are accompanied by tooltips.
It has many settings. For example, you can choose by what points you want to identify patterns - along the edges of wicks (tails, shadows), or along the edges of candle bodies.
In addition, there are several settings with which you can determine the parameters of the detected patterns - the length and ratio of the lines included in it.
The "Sensitivity" parameter will allow you to control the frequency of detected patterns, depending on whether you want the patterns to be detected more often, or if they cover a larger number of candles and thus be more reliable.
You can also customize your styles.
All key settings are accompanied by tooltips.
Release Notes
The ability to create alerts has been added. You can create the script alert using the "Create Alert" dialog box now. Then you will be notified when this pattern or its inverted counterpart appears according to your alert settings. Protected script
This script is published closed-source and you may privately use it freely.
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Disclaimer
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