OPEN-SOURCE SCRIPT
9th and 5th Candle Pattern - High/Low Break Logic
I implemented a Pine-Script (TradingView, v5) indicator that looks at a 9-candle window and marks the two patterns you described, with a clear, tweakable interpretation so it’s useful immediately on your chart.
My interpretation (keeps things deterministic & chart-friendly):
We treat the current bar as the 9th candle and look back 8 bars (so the 5th candle is close[4] / open[4]).
Pattern A (5th green):
If candle #5 is bullish (close[4] > open[4]) AND none of the next 4 candles (6,7,8,9 → offsets [3,2,1,0]) have a low below candle #5 low (i.e. that low was not broken), AND the 6th candle (offset 3) made a higher high than candle #5, then the script places a label/arrow on the 6th candle saying a bullish continuation / "up possible" signal.
Pattern B (5th red):
If candle #5 is bearish (close[4] < open[4]) AND within the next 4 candles the high moved above candle #5 high (i.e. price attempted to reverse), then the script places a label/arrow on the 9th (current) candle indicating a possible high / reversal by the 9th.
You can tweak the number of look-ahead candles or the strictness easily in the code comments.
My interpretation (keeps things deterministic & chart-friendly):
We treat the current bar as the 9th candle and look back 8 bars (so the 5th candle is close[4] / open[4]).
Pattern A (5th green):
If candle #5 is bullish (close[4] > open[4]) AND none of the next 4 candles (6,7,8,9 → offsets [3,2,1,0]) have a low below candle #5 low (i.e. that low was not broken), AND the 6th candle (offset 3) made a higher high than candle #5, then the script places a label/arrow on the 6th candle saying a bullish continuation / "up possible" signal.
Pattern B (5th red):
If candle #5 is bearish (close[4] < open[4]) AND within the next 4 candles the high moved above candle #5 high (i.e. price attempted to reverse), then the script places a label/arrow on the 9th (current) candle indicating a possible high / reversal by the 9th.
You can tweak the number of look-ahead candles or the strictness easily in the code comments.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.