W Pattern Finder

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📊 W Pattern Finder

English:

This indicator automatically detects W-Patterns (Double Bottoms) following the HLHL structure and marks the last four crucial points on the chart.
Additionally, it draws the neckline, a Take Profit (TP) and a Stop Loss (SL) – including a Risk/Reward ratio.

✨ Features

* Automatic detection of W-Patterns (Double Bottoms)
* Draws the neckline and the last 4 key points
* Calculates and displays TP and SL levels (with adjustable RR ratio)
* Auto-Clear: All objects are removed once TP or SL is reached
* Fully customizable colors & widths for pattern, TP and SL lines
* Tolerance filter for lows to improve clean pattern recognition
* Visual marking of the W-pattern directly in the chart

⚙️ Settings

* Pivot Length → controls sensitivity of pattern detection
* Line color & width for the pattern
* Individual colors and widths for TP and SL lines
* Risk/Reward Ratio (RR) freely adjustable
* Tolerance (%) for deviation of lows

📈 Use Case

This indicator is especially useful for chart technicians & pattern traders who trade W-formations (Double Bottoms).
With the automatic calculation of TP & SL, it becomes instantly clear whether a trade is worth taking.

⚠️ Disclaimer:
This indicator is not financial advice. It is intended for educational and analytical purposes only.
Use it in trading at your own risk

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Phát hành các Ghi chú

W & M Pattern Finder 2.0 (Double Top / Double Bottom)

The W & M Pattern Finder 2.0 automatically detects Double Bottom (W) and Double Top (M) reversal formations directly on the chart.
It uses pivot analysis, tolerance filtering and neckline validation to highlight high-quality setups. Optional Take Profit (TP), Stop Loss (SL) and a detailed statistics panel are included.


✅ Features

* Automatic detection of Double Bottom (W) & Double Top (M)

* Dynamic neckline as entry trigger

* Optional candle close confirmation

* Automatic TP/SL calculation based on risk-to-reward

* Adjustable Risk/Reward Ratio (RRR)

* Full pattern visualization (structure lines & labels)

* Real-time statistics:

* detected patterns
* TP hits
* SL hits
* invalidated setups

* Optional history mode (keep old patterns visible)

* Deleted patterns can be faded for visual tracking


🧠 Logic

The indicator evaluates:

* Pivot structure sequences
* Symmetry tolerance (% deviation between highs/lows)
* Neckline break confirmation
* SL invalidation before confirmation

Pending patterns may become invalid if price violates the stop level.


🎯 TP & SL

* W (Double Bottom):
TP above the neckline, SL below lowest pivot
* M (Double Top):
TP below the neckline, SL above highest pivot

Risk/Reward Ratio is fully configurable.


📊 Live Statistics (per pattern type)

* Total
* TP hits
* SL hits
* Invalidated

All statistics are separated for M & W patterns.


⚙️ Inputs

* Pivot length
* Risk/Reward Ratio (RRR)
* Tolerance (%)
* Show TP/SL
* Neckline close confirmation
* History mode On/Off
* Fade deleted patterns
* Table position


🕵️ Ideal For

* Reversal traders
* Pattern-based strategies
* Swing trading
* Intraday setups


⚠️ Disclaimer

This indicator does not provide financial advice.
All signals are for educational and analytical purposes only.

Trading financial markets involves significant risk:

* past performance does not guarantee future results
* losses can occur at any time

Use at your own responsibility.
The author is **not liable** for financial losses or damages.

Always consider:

* market structure
* volatility
* volume context
* news events


⭐ Tip

Combine with volume confirmation or trend filters for stronger signal quality.


Good luck and trade safely! 🚀