Supply and Demand Based Pattern [RH]

2023年6月19日

This indicator focuses on detecting RBR and DBD patterns, which signify periods of increased momentum and potential continuation or reversal of the prevailing trend.

The RBR pattern consists of a rally (upward movement), followed by a base (consolidation or retracement), and then another rally. It suggests that the upward momentum may persist and provide trading opportunities.

On the other hand, the DBD pattern comprises a drop (downward movement), followed by a base, and then another drop. It indicates that the downward momentum might continue, offering potential shorting opportunities.

Bullish(RBR) example:


Bearish(DBD) example:


1. The bullish (RBR) and bearish (DBD) patterns share the same underlying logic, only differing in their directionality.

2. For both RBR and DBD patterns, the first rise/drop can consist of one or multiple candles. However, in the case of multiple candles, all candles must exhibit a bullish nature for RBR and a bearish nature for DBD.
Example:


3. It is a prerequisite for the first rise/drop to include at least one candle with a defined percentage of health, as determined by the user.

4. The base, following the first rise/drop, may comprise one or multiple candles.
Example:


5. To maintain consistency, the base is not allowed to retrace beyond 80%, although this value can be adjusted by the user.

6. Similar to the first rise/drop, the second rise/drop in both RBR and DBD patterns can consist of one or multiple candles. However, all candles within this phase must demonstrate a bullish nature for RBR and a bearish nature for DBD.

7. Confirmation of the bullish (RBR) pattern occurs when a candle closes above the high of the first rise. Conversely, the bearish (DBD) pattern is confirmed when a candle closes below the low of the first drop.
Example:


Alerts can be set for all bullish and bearish pattern or for the first pattern in the range of similar pattern.

2023年6月20日

版本注释

Pattern's name fix.