OPEN-SOURCE SCRIPT
pipe_finder. Reversal Indicator for Pipe Top & Bottom Patterns.
Simple indicator to find pipe bottom and top patterns.
Definition:
- Pipe Bottom:
- Positive Difference from Open and Close is greater than the average thickness of the last "x" candles multiplied by sensitivity "y"
- The previous candle is red and the current candle is green
- Trend Definition - (Trend for EMA length 'z" has a slope less than 0 or pointed downwards)
- The average of the current and previous candle's volume is greater than the average volume for the last "n" candles.
- Pipe Top:
- Positive Difference from Open and Close is greater than the average thickness of the last "x" candles multiplied by sensitivity "y"
- The previous candle is green and the current candle is red
- Trend Definition - (Trend for EMA length 'z" has a slope greater than 0 or pointed upwards)
- The average of the current and previous candle's volume is greater than the average volume for the last "n" candles.
Settings:
Sensitivity: How thick do the pipe candles have to be? (Greater sensitivity = more alerts)
Candle Thickness Average Period: The number of past candles used for measuring the average body size of candlestick.
Filter EMA Length: Length of the EMA used to filter between bull trends and bear trends.
Volume EMA Length: Length of the volume EMA.
Definition:
- Pipe Bottom:
- Positive Difference from Open and Close is greater than the average thickness of the last "x" candles multiplied by sensitivity "y"
- The previous candle is red and the current candle is green
- Trend Definition - (Trend for EMA length 'z" has a slope less than 0 or pointed downwards)
- The average of the current and previous candle's volume is greater than the average volume for the last "n" candles.
- Pipe Top:
- Positive Difference from Open and Close is greater than the average thickness of the last "x" candles multiplied by sensitivity "y"
- The previous candle is green and the current candle is red
- Trend Definition - (Trend for EMA length 'z" has a slope greater than 0 or pointed upwards)
- The average of the current and previous candle's volume is greater than the average volume for the last "n" candles.
Settings:
Sensitivity: How thick do the pipe candles have to be? (Greater sensitivity = more alerts)
Candle Thickness Average Period: The number of past candles used for measuring the average body size of candlestick.
Filter EMA Length: Length of the EMA used to filter between bull trends and bear trends.
Volume EMA Length: Length of the volume EMA.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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