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Pattern Recognition
Pattern Recognition automatically detects classic chart formations: symmetrical, ascending and descending triangles, rising and falling wedges, and parallel trend channels. Breakouts are only considered valid when confirmed by elevated volume. RSI divergence and StochRSI filtering reduce false breakouts in overbought or oversold markets. Fibonacci projections deliver automatic price targets after the breakout, and a pattern status table provides an overview of active formations.
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Features
Usage: Open the Pine Editor on TradingView, copy the code from the GitHub repository and paste it.
This script is an idea for developing your own Pine Script indicators. It does not constitute investment advice and serves exclusively as technical learning material. Use at your own risk.
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