Head & Shoulders S/R Regular

This is my take in Head & Shoulders (regular H&S)
The script will wait until a valid point E is found, which means A, C and E are alined

Then it will find the highest point between C - E -> Head (= D),
together with the highest point between A - C -> Left Shoulder (= B)

After this, the pattern is drawn, together with a 'trigger' area (E-G - E'-G' ~ 'Right shoulder area')

ONLY in this field, when a close is higher than E'-G', the figure will turn green, if lower than E-G, it will turn red, else, it will be blue

Settings:

Date range filtering
Here you can filter the patterns by setting the date period (for E)
Pivot Points -> Leftbars - Rightbars
min/max retrace AD -> E
Set the retracement for E (retracement A -> D -> E, here between 1.4 & 1.5)
% tolerance [L ~ R shoulder height]
Tolerance of Right shoulder height against Left shoulder height
0% (= the same relative height):

85% (-> now close isn't higher than E'-G' -> blue coloured):
min/max % [Left Shoulder ~ Head]
Sets the desired B height against D (here B is between 35-45% of D):
width R shoulder = L shoulder + x%
Sets the width of Right shoulder against Left shoulder
0% (nothing extra, just the same width as Left shoulder)

100% (Right shoulder area is double as large as the Left shoulder):

-70% (Right shoulder area much narrower than Left shoulder):
maximum visible patterns:
Set the maximum visible amount of patterns

This script uses one of the latest fantastic Pinescript features:
linefill[] and for ... in loop

Cheers!

Notas de prensa

Code improvement

Notas de prensa

update

Notas de prensa

update

Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.

fikira

Who are PineCoders?
tradingview.com/chart/SSP/yW5eOqtm-Who-are-PineCoders/

TG Pine Script® Q&A: t.me/PineCodersQA

- We cannot control our emotions,
but we can control our keyboard -

Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.

Script de código abierto

fikira

Who are PineCoders?
tradingview.com/chart/SSP/yW5eOqtm-Who-are-PineCoders/

TG Pine Script® Q&A: t.me/PineCodersQA

- We cannot control our emotions,
but we can control our keyboard -