OPEN-SOURCE SCRIPT
Breakout mode patterns [yohtza]
This indicator detects three kinds of price action patterns:
ii - consecutive inside bars ( high and low inside of the previous bar), triangle on a lower timeframe
oo - consecutive outside bars ( high above the high of the previous bar and the low below the low of the previous bar), expanding triangle on a lower timeframe
ioi - inside outside inside, diamond pattern on a lower timeframe
Traders that trade these patterns are entering on breakouts above/below .When they appear in a trending market, they are good setups for both continuation and reversal swing trades. When they appear in ranging market, they are not nearly as powerful since most breakouts fail in this context. To achieve the highest probability, it is best to trade in the direction of the trend on the last bar in the pattern with a stop loss on the other side and going for a reward that is at least twice the risk.
ii - consecutive inside bars ( high and low inside of the previous bar), triangle on a lower timeframe
oo - consecutive outside bars ( high above the high of the previous bar and the low below the low of the previous bar), expanding triangle on a lower timeframe
ioi - inside outside inside, diamond pattern on a lower timeframe
Traders that trade these patterns are entering on breakouts above/below .When they appear in a trending market, they are good setups for both continuation and reversal swing trades. When they appear in ranging market, they are not nearly as powerful since most breakouts fail in this context. To achieve the highest probability, it is best to trade in the direction of the trend on the last bar in the pattern with a stop loss on the other side and going for a reward that is at least twice the risk.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。