OPEN-SOURCE SCRIPT
Bart Pattern [LuxAlgo]

As a sequel to our 'meme indicator' series... The Bart Pattern Detector identifies confirmed regular and inverted Bart patterns using edge detection.
Settings
Usage
This indicator can be used to study past Bart patterns and how the market responded to them. Their detection is not done in real-time. Additionally detected edges are used to indicate the current market sentiment.

If you don't want a meme on your chart, you can also use the simple mode - but don't worry, we won't judge you if you don't...

Details

The origins of Bart patterns can be hard to pinpoint but most likely originate from social media around 2018. This pattern has been mostly covered in the cryptocurrency market similarly to how the McDonald's Pattern became a popular meme within the community. See our McDonald's Pattern Indicator that was created by us as our first 'meme indicator' in the series https://www.tradingview.com/script/BbHc0nIt-McDonald-s-Pattern-LUX/

The Bart pattern as its name suggests occurs when price forms a structure resembling the head of the Simpson character "Bart Simpson". This is characterized by a rectangular structure, which is a sideways market delimited by sharp volatile edges.
The Bart pattern is sometimes traded before completion, waiting for a breakout of a support/resistance located within the sideway part of the pattern.
The cause of this pattern is still discussed by traders, with some attributing it to over-leveraged market participants and while others attributing it to exchanges themselves through spoofing.
Notes
Barts patterns are very volatile structures, characterized by sudden price jumps, be careful when trading them.
Shout to the famous alien @lilmayo and our good pal @scheplick for the suggestion to create this work of art.
And don't forget to eat your shorts.
Settings
- Median Lookback: Lookback period of the median filter used for the edge detection, with a shorter period allowing to detect shorter-term and less spaced patterns.
- Edge Detection Sensitivity: Sensitivity of the edge detection method, with higher values making the method less sensible to edges of low magnitude.
- Range To Edges Threshold: Threshold for the range to edges ratio, with lower values detecting Bart patterns with flatter ranges between the edges.
- Show Inverted Barts: Show inverted Bart patterns.
- Mode: Determines how detected Bart patterns are displayed.
Usage
This indicator can be used to study past Bart patterns and how the market responded to them. Their detection is not done in real-time. Additionally detected edges are used to indicate the current market sentiment.
If you don't want a meme on your chart, you can also use the simple mode - but don't worry, we won't judge you if you don't...
Details
The origins of Bart patterns can be hard to pinpoint but most likely originate from social media around 2018. This pattern has been mostly covered in the cryptocurrency market similarly to how the McDonald's Pattern became a popular meme within the community. See our McDonald's Pattern Indicator that was created by us as our first 'meme indicator' in the series https://www.tradingview.com/script/BbHc0nIt-McDonald-s-Pattern-LUX/
The Bart pattern as its name suggests occurs when price forms a structure resembling the head of the Simpson character "Bart Simpson". This is characterized by a rectangular structure, which is a sideways market delimited by sharp volatile edges.
The Bart pattern is sometimes traded before completion, waiting for a breakout of a support/resistance located within the sideway part of the pattern.
The cause of this pattern is still discussed by traders, with some attributing it to over-leveraged market participants and while others attributing it to exchanges themselves through spoofing.
Notes
Barts patterns are very volatile structures, characterized by sudden price jumps, be careful when trading them.
Shout to the famous alien @lilmayo and our good pal @scheplick for the suggestion to create this work of art.
And don't forget to eat your shorts.
Phát hành các Ghi chú
Minor changes.Mã nguồn mở
Theo đúng tinh thần TradingView, người tạo ra tập lệnh này đã biến tập lệnh thành mã nguồn mở để các nhà giao dịch có thể xem xét và xác minh công năng. Xin dành lời khen tặng cho tác giả! Mặc dù bạn có thể sử dụng miễn phí, nhưng lưu ý nếu đăng lại mã, bạn phải tuân theo Quy tắc nội bộ của chúng tôi.
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, người tạo ra tập lệnh này đã biến tập lệnh thành mã nguồn mở để các nhà giao dịch có thể xem xét và xác minh công năng. Xin dành lời khen tặng cho tác giả! Mặc dù bạn có thể sử dụng miễn phí, nhưng lưu ý nếu đăng lại mã, bạn phải tuân theo Quy tắc nội bộ của chúng tôi.
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.