Tweezers and Kangaroo Tail

Hello Traders,

Here Tweezers and Kangaroo Tail script is in your service. The script searches for Tweezer / Kangaroo Tail candlestick patterns and shows them as T ( Tweezer ) and K (Kangaroo Tail). Thanks to RorschachT who game me the idea and some details while working on this script.

What are these candlestick patterns?
Tweezers :
- A tweezers pattern occurs when the highs/Lows of two candlesticks occur at almost exactly the same level
- Both candles must have wicks
- Bigger Wick / Smaller Wick rate should not be greater than 150% (150% by default and you have option to change it)
- First Candle must be highest/lowest for last 5 candles (5 by default and you have option to change it)
- The level of High for Top, Low for Bottom must be almost lower than 20% of the bigger wick of tweezer candles (20% by default and you have option to change it)
- The Candles can be right next to each other or apart but not more than 12 candles apart (12 by default and you have option to change it)
- You will see that Tweezers pattern occurs frequently

Kangaroo Tail:
- Looks almost like a Hammer or Inverted Hammer candle
- They have both its open and close in the top or bottom third of the candle
- There must be some space/room on the left of the kangaroo tail
- The open and close of the Kangaroo Tail candle must be inside the range of the previous candlestick
- The next candle should create a new high or new low
- You have several options to set details about the "Room" that should be on the left and also options for Wick/Body rates
- You can see example below

You have option to enable/disable any of these patterns.

as far as I have tested they are strong reversal patterns but none of the indicators or patterns may not be enough alone. so you should confirm the signals using other indicators or tools

If you need more information you can find a lot of info on the net ;)

Example: Tweezers - Aparted

Example: Kangaroo Tail - Bullish

Phát hành các Ghi chú: Alerts added.
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?

Bình luận

thank you, Lonesome
500 xu
+4 Phản hồi
LonesomeTheBlue RubenGonzaleze13b05a3eb1c4b41
Phản hồi
I need to write a script that automatically 'Favorites' Lonesome's scripts as soon as they are published.
+26 Phản hồi
LonesomeTheBlue pranjalchaubey
@pranjalchaubey, :))))))
+4 Phản hồi
Awesome! Thank you! Hopefully, you can also do pin bars
+2 Phản hồi
as always on top!!!you are the best!!!thank you very much👍✨👍
+2 Phản hồi
LonesomeTheBlue nikitadream88
@nikitadream88, you are welcome mate
Phản hồi
This is a good tool for identifying reversals. thank you I will try this out
+1 Phản hồi
Great idea mate! Thanks for sharing.
Trading View warns against "repainting" when creating the alerts for it.
Do you think that's an issue here when choosing "on bar close" alerts?
+1 Phản hồi
LonesomeTheBlue Outback_Explorer
@Outback_Explorer, you should not care that warning
+1 Phản hồi