Alpha Candles-Candlestick Pattern Recognition — Multi-Pattern De

Candlestick Pattern Recognition — Multi-Pattern Detector

Description:
This Pine Script intelligently scans price action to automatically detect and label multiple candlestick patterns directly on your TradingView chart. It’s designed for traders who want to combine price psychology and pattern-based setups into their technical analysis.

Using built-in and custom logic, the script identifies both bullish and bearish reversal & continuation patterns, dynamically marking them on the chart for quick visual recognition.

✨ Key Features

🔍 Pattern Detection: Automatically identifies major candlestick formations such as:

Bullish Reversal Patterns: Hammer, Morning Star, Bullish Engulfing, Piercing Line, Three White Soldiers

Bearish Reversal Patterns: Shooting Star, Evening Star, Bearish Engulfing, Dark Cloud Cover, Three Black Crows

Continuation Patterns: Rising Three, Falling Three, Marubozu, Doji, Spinning Top

🧠 Smart Filtering: Optionally filters signals based on trend direction, volume confirmation, or body-to-wick ratios for higher accuracy.

🕯️ Custom Labels: Each detected pattern is plotted with a clean, color-coded label (green for bullish, red for bearish).

⚙️ Adjustable Sensitivity: Fine-tune thresholds like wick size, body ratio, or lookback periods to adapt detection to your preferred timeframe or asset class.

📈 Multi-Timeframe Ready: Works seamlessly across intraday, daily, and weekly charts.

How It Works

The script measures the relative body and wick sizes of recent candles and compares them against pattern-specific ratios.
For example:

A Bullish Engulfing is confirmed when the latest candle’s body fully engulfs the previous candle’s body, following a downtrend.

A Hammer is identified when the lower wick is at least twice the body size, appearing after a price decline.

These detections are then plotted as visual markers on your chart, helping you instantly spot momentum shifts or trend exhaustion zones.

Use Case

Perfect for:

Traders using price action-based entries

Backtesting pattern-based strategies

Educators demonstrating candlestick psychology

Analysts combining pattern recognition with indicators (RSI, EMAs, etc.)