OPEN-SOURCE SCRIPT
Strong Candlestick Patterns | ProjectSyndicate
Strong Candlestick Patterns automatically detects, scores, and highlights 25 classic Japanese candlestick patterns using an objective, non-repainting engine built on the teachings of Steve Nison. It confirms every pattern on the bar close, grades each setup 0–10 for quality, draws it as a clean color-coded zone with a name label and ★ star rating, and surfaces the most recent signal on every timeframe through a non-intrusive multi-timeframe scanner — turning subjective candle-reading into a quantifiable, repeatable process.
🕯️ 25-Pattern Detection — recognizes the full Nison family from raw geometry: Hammer, Hanging Man, Inverted Hammer, Shooting Star, Dragonfly / Gravestone / Long-Legged Doji, Bullish / Bearish Marubozu, Bullish / Bearish Engulfing, Bullish / Bearish Harami, Piercing Line, Dark Cloud Cover, Tweezer Top / Bottom, Bullish / Bearish Windows (gaps), Morning Star, Evening Star, Three White Soldiers, Three Black Crows, and Rising / Falling Three Methods.
🔒 Close-Confirmed, Non-Repainting — patterns are evaluated on confirmed candles only; the live bar waits for its close before committing, so signals, zones, and labels are stable and never redrawn after the fact.
⭐ 0–10 Quality Scoring — every setup is graded by blending five factors Nison stresses: textbook shape fit (40%), candle significance vs ATR (22%), trend-context strength (18%), volume confirmation (12%), and EMA confluence (8%). The result is shown as a ★ star meter with a numeric score and a WEAK / MODERATE / STRONG / ELITE tier, so you can instantly gauge conviction and filter for only the best.
🧭 Trend-Context Gating — reversal patterns fire only counter-trend and continuation patterns only with-trend (toggleable), enforcing the core rule that a pattern is meaningless without the right preceding trend.
🎨 Direction-Matched Zones & Labels — each pattern is boxed as a blue (bullish), orange-red (bearish), or gray (neutral) zone spanning its candles, with a clean name label and rating placed above bearish setups and below bullish ones for instant, clutter-free read.
📡 Multi-Timeframe Scanner Row — a non-repainting top dashboard shows the symbol plus eight fully configurable timeframes (M15 → D1 by default), each displaying the latest pattern and its bars-ago count, with fresh signals highlighted so you can spot multi-timeframe alignment at a glance.
✅ Advanced Quality-Control Filters — strong-only mode (default: ELITE 8+), direction filter, ATR-based minimum candle-size gate, per-pattern shape tolerances (doji body %, shadow multiple, engulfing/tweezer/star ratios), minimum bars between signals, and individual on/off toggles for all twelve pattern groups eliminate noise and over-signaling.
🔔 Comprehensive Alerts — a single rich alert() message (direction, pattern name, 0–10 score, symbol, timeframe, close) for automation, plus three individually selectable named conditions: Bullish Pattern, Bearish Pattern, and Elite Pattern (8+).
🔧 Fully Customizable — control trend EMA and lookback, volume average, zone padding and transparency, bullish/bearish/neutral colors, label and scanner text sizes, scanner position, and the per-timeframe set.
🎯 Why this is unique: Standard candlestick tools simply paint a name on a candle with no context or grading. This is an objective, fully-gated, non-repainting engine that recognizes 25 patterns from raw OHLC geometry, confirms each on the close, validates it against trend context and volume, grades its quality 0–10, and tracks it across eight timeframes — so you act only on the highest-conviction setups instead of every random wick.
🚀 Apply to Gold (XAUUSD), Forex, Crypto, Indices, and equities on any timeframe. The ATR-based, self-scaling logic adapts from M5 scalping to H4/Daily swing trading.
🎯 How to use this? Favor higher-star (STRONG/ELITE) setups that align with the higher-timeframe trend shown in the scanner row. Use the strong-only threshold to keep the chart sparse and focus on quality; loosen the shape tolerances if a pattern fires too rarely on a given asset, or tighten them to reduce noise.
⚠️ IMPORTANT NOTICE: This indicator identifies quality-graded candlestick signals; it should NOT be used as a standalone entry trigger. Always combine it with your own trading strategy, price-action analysis, key support/resistance levels, and sound risk management to confirm setups.
🕯️ 25-Pattern Detection — recognizes the full Nison family from raw geometry: Hammer, Hanging Man, Inverted Hammer, Shooting Star, Dragonfly / Gravestone / Long-Legged Doji, Bullish / Bearish Marubozu, Bullish / Bearish Engulfing, Bullish / Bearish Harami, Piercing Line, Dark Cloud Cover, Tweezer Top / Bottom, Bullish / Bearish Windows (gaps), Morning Star, Evening Star, Three White Soldiers, Three Black Crows, and Rising / Falling Three Methods.
🔒 Close-Confirmed, Non-Repainting — patterns are evaluated on confirmed candles only; the live bar waits for its close before committing, so signals, zones, and labels are stable and never redrawn after the fact.
⭐ 0–10 Quality Scoring — every setup is graded by blending five factors Nison stresses: textbook shape fit (40%), candle significance vs ATR (22%), trend-context strength (18%), volume confirmation (12%), and EMA confluence (8%). The result is shown as a ★ star meter with a numeric score and a WEAK / MODERATE / STRONG / ELITE tier, so you can instantly gauge conviction and filter for only the best.
🧭 Trend-Context Gating — reversal patterns fire only counter-trend and continuation patterns only with-trend (toggleable), enforcing the core rule that a pattern is meaningless without the right preceding trend.
🎨 Direction-Matched Zones & Labels — each pattern is boxed as a blue (bullish), orange-red (bearish), or gray (neutral) zone spanning its candles, with a clean name label and rating placed above bearish setups and below bullish ones for instant, clutter-free read.
📡 Multi-Timeframe Scanner Row — a non-repainting top dashboard shows the symbol plus eight fully configurable timeframes (M15 → D1 by default), each displaying the latest pattern and its bars-ago count, with fresh signals highlighted so you can spot multi-timeframe alignment at a glance.
✅ Advanced Quality-Control Filters — strong-only mode (default: ELITE 8+), direction filter, ATR-based minimum candle-size gate, per-pattern shape tolerances (doji body %, shadow multiple, engulfing/tweezer/star ratios), minimum bars between signals, and individual on/off toggles for all twelve pattern groups eliminate noise and over-signaling.
🔔 Comprehensive Alerts — a single rich alert() message (direction, pattern name, 0–10 score, symbol, timeframe, close) for automation, plus three individually selectable named conditions: Bullish Pattern, Bearish Pattern, and Elite Pattern (8+).
🔧 Fully Customizable — control trend EMA and lookback, volume average, zone padding and transparency, bullish/bearish/neutral colors, label and scanner text sizes, scanner position, and the per-timeframe set.
🎯 Why this is unique: Standard candlestick tools simply paint a name on a candle with no context or grading. This is an objective, fully-gated, non-repainting engine that recognizes 25 patterns from raw OHLC geometry, confirms each on the close, validates it against trend context and volume, grades its quality 0–10, and tracks it across eight timeframes — so you act only on the highest-conviction setups instead of every random wick.
🚀 Apply to Gold (XAUUSD), Forex, Crypto, Indices, and equities on any timeframe. The ATR-based, self-scaling logic adapts from M5 scalping to H4/Daily swing trading.
🎯 How to use this? Favor higher-star (STRONG/ELITE) setups that align with the higher-timeframe trend shown in the scanner row. Use the strong-only threshold to keep the chart sparse and focus on quality; loosen the shape tolerances if a pattern fires too rarely on a given asset, or tighten them to reduce noise.
⚠️ IMPORTANT NOTICE: This indicator identifies quality-graded candlestick signals; it should NOT be used as a standalone entry trigger. Always combine it with your own trading strategy, price-action analysis, key support/resistance levels, and sound risk management to confirm setups.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Institutional-desk research · 10+ yrs building trading algos stocks options FX
Algo systems for gold/FX traders · levels desk: Gold FX NQ ES JPN225
Private systems for serious traders
syndicate001.com
TG channel
Algo systems for gold/FX traders · levels desk: Gold FX NQ ES JPN225
Private systems for serious traders
syndicate001.com
TG channel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Institutional-desk research · 10+ yrs building trading algos stocks options FX
Algo systems for gold/FX traders · levels desk: Gold FX NQ ES JPN225
Private systems for serious traders
syndicate001.com
TG channel
Algo systems for gold/FX traders · levels desk: Gold FX NQ ES JPN225
Private systems for serious traders
syndicate001.com
TG channel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.