Auto Technical Analysis + Labels + Candle Patterns

Auto Technical Analysis + Labels + Candle Patterns

A complete real-time technical analysis assistant that automatically detects trend, support/resistance, breakouts, volume spikes, and candlestick patterns — all visualized directly on your chart with clean labels.

This indicator is designed as an “automatic chart reader”, removing the need to manually draw levels or analyze common price-action signals. It is lightweight, fast, and highly useful for scalpers, day traders, and swing traders.

Features
1. Trend Detection (EMA-Based)

The script uses a fast EMA (5) and slow EMA (13) to determine trend direction.

It plots:

Fast MA (5)

Slow MA (13)

A dynamic label showing:

📈 Uptrend

📉 Downtrend

Trend labels automatically update on each bar.

2. Automatic Support & Resistance (Pivot-Based)

The indicator dynamically identifies swing highs and swing lows using pivot logic.

For each pivot:

Draws dashed S/R lines

Adds color-coded labels:

🟥 Resistance

🟩 Support

Up to 5 levels per side are auto-managed to avoid clutter. Oldest levels are deleted automatically.

3. Breakout & Breakdown Detection

When price crosses the nearest active support/resistance level:

Break↑ labels for bullish breakout

Break↓ labels for bearish breakdown

A second set of “recent” labels (“🟢 Breakout ↑” / “🔴 Breakdown ↓”) is also displayed, managed by a queue so only the most relevant signals remain visible.

4. Volume Spike Detection

The script identifies unusual volume activity using:

volume > SMA(volume, 20) × 2

If a spike occurs:

A yellow dot is plotted below the bar

A “🟡 Volume Spike” label appears

This helps confirm breakouts and reversals.

5. Candlestick Pattern Detection

The script automatically detects key reversal candles:

🟢 Bullish Engulfing

🔴 Bearish Engulfing

🔨 Hammer

💥 Shooting Star

To avoid repeated signals, patterns near the same price level are filtered using a tolerance threshold.

6. Alerts Included

You can set alerts for:

Bullish Breakout

Bearish Breakdown

Volume Spike

Ideal for real-time monitoring across multiple tickers.

What This Indicator Helps You See Instantly

Market trend direction

Key S/R levels

Breakout/breakdown opportunities

Volume confirmation

Major candle pattern reversals

Clean visual labels with automated clutter control

Great for:

Scalping

Intraday trading

Swing analysis

Reversal spotting

Breakout momentum trading

Recommended Settings

Timeframes: 1-minute to Daily
Assets: Stocks, Crypto, Forex, Indices
Ideal for traders who want fast, automated chart interpretation.