OPEN-SOURCE SCRIPT
Head and Shoulders
Updated
Good day Traders,
Here is an indicator that I designed that is my version of the head and shoulders pattern. If you like it add it to your chart and see if it works for you.
The white trend lines are there to indicate to you how it more or less works. The green/red line is when the patter has been formed. I struggle to make it an area. If you know how please let me know or do it yourself.
I do hope this can help people and also help you make the right trades.
Please know that Im not a programmer and do this as a hobby.(The programming part)
Thank you :D
Here is an indicator that I designed that is my version of the head and shoulders pattern. If you like it add it to your chart and see if it works for you.
The white trend lines are there to indicate to you how it more or less works. The green/red line is when the patter has been formed. I struggle to make it an area. If you know how please let me know or do it yourself.
I do hope this can help people and also help you make the right trades.
Please know that Im not a programmer and do this as a hobby.(The programming part)
Thank you :D
Release Notes
Alert has been added.Release Notes
Added a few more things. Trying to improve on the indicator. Please share your comments and thought. Thank you.Release Notes
New and better alert system. Thanks to K2traders that helped showing me the mistake.Hope you all enjoy.
Please leave comments and like if you want.
Thanks :)
Release Notes
Correct update not the previous one.Release Notes
Traders,Here is an example of what you can look for, but please do remember that this is still an indicator. It is not an every time trade option with a guarantee win trade. Technical analysis and everything else that goes with trading still applies. Doesnt matter which custom indicator you use.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.