OPEN-SOURCE SCRIPT
W and M Pattern with Trend Alert
This script detects W and M patterns in price action and alerts the trader when these patterns occur, providing potential trading opportunities.
W Pattern: A W pattern forms when the price creates two bottoms, separated by a higher low in the middle. It often indicates a reversal from a downtrend to an uptrend. The script plots a green line at the neckline of the W pattern.
M Pattern: An M pattern forms when the price creates two tops, separated by a lower high in the middle. It often indicates a reversal from an uptrend to a downtrend. The script plots a red line at the neckline of the M pattern.
Key Features:
Alerts: The script generates alerts when W or M patterns are detected, allowing traders to stay informed of potential trading opportunities.
Recent Breakout: W and M pattern lines are drawn only after the recent breakout of support or resistance levels, helping traders focus on current market conditions.
Visual Representation: The script visually represents W and M patterns with vertical lines at the neckline, making it easier for traders to identify potential reversal points.
Usage:
Watch for alerts indicating the detection of W or M patterns.
Verify the pattern visually on the chart, paying attention to recent support or resistance levels.
Consider entering a trade based on the direction suggested by the pattern (e.g., long on W pattern, short on M pattern), using additional technical analysis to confirm the trade setup.
W Pattern: A W pattern forms when the price creates two bottoms, separated by a higher low in the middle. It often indicates a reversal from a downtrend to an uptrend. The script plots a green line at the neckline of the W pattern.
M Pattern: An M pattern forms when the price creates two tops, separated by a lower high in the middle. It often indicates a reversal from an uptrend to a downtrend. The script plots a red line at the neckline of the M pattern.
Key Features:
Alerts: The script generates alerts when W or M patterns are detected, allowing traders to stay informed of potential trading opportunities.
Recent Breakout: W and M pattern lines are drawn only after the recent breakout of support or resistance levels, helping traders focus on current market conditions.
Visual Representation: The script visually represents W and M patterns with vertical lines at the neckline, making it easier for traders to identify potential reversal points.
Usage:
Watch for alerts indicating the detection of W or M patterns.
Verify the pattern visually on the chart, paying attention to recent support or resistance levels.
Consider entering a trade based on the direction suggested by the pattern (e.g., long on W pattern, short on M pattern), using additional technical analysis to confirm the trade setup.
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者は、トレーダーが理解し検証できるようにオープンソースで公開しています。作者に敬意を表します！無料で使用することができますが、このコードを投稿で再利用するには、ハウスルールに準拠する必要があります。 お気に入りに登録してチャート上でご利用頂けます。
チャートでこのスクリプトを利用したいですか？
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。