Three & Four Bar Reversal PatternThree & Four Bar Reversal Pattern identifies short-term reversal candlestick setups directly on your chart, based on a strict closing-price confirmation rather than just wick penetration — making signals more reliable for intraday and swing trading decisions.
WHAT IT DETECTS
3-Bar Reversal
A classic three-candle reversal:
Bullish: two consecutive bearish candles followed by a bullish candle that closes above the high of the first bearish candle.
Bearish: two consecutive bullish candles followed by a bearish candle that closes below the low of the first bullish candle.
Requiring the close (not just the wick) to break the reference level filters out weaker, unconfirmed reversal attempts.
4-Bar Reversal (optional)
An extended version of the pattern for setups where the reversal takes one extra candle to confirm:
Two small same-direction candles, followed by a transition candle in the opposite direction, followed by a large breakout candle whose body exceeds the combined body size of the previous three candles, and whose close breaks through the high/low of the first candle.
Built-in logic prevents a 4-bar signal from overlapping with an already-completed 3-bar signal on the same candles, so you don't get redundant markers on the chart.
FEATURES
Independent toggles for bullish and bearish signals
Customizable colors for bullish/bearish markers
Optional 4-bar pattern detection, clearly distinguished from 3-bar signals with on-chart labels ("3" / "4")
Configurable reference line (style: solid/dashed/dotted, adjustable width) marking the breakout level
Built-in alert conditions for all four signal types (bullish/bearish, 3-bar/4-bar)
HOW TO USE
Add the indicator to your chart.
Watch for triangle markers below/above candles — these mark confirmed reversal closes.
Enable "4-Bar Pattern Detection" in settings if you also want the extended 4-candle version.
Set alerts on any of the four conditions to get notified in real time.
NOTES
This tool is designed to highlight potential reversal setups, not to generate standalone buy/sell signals. Always combine it with your own risk management, trend context, and confluence factors (support/resistance, volume, higher-timeframe structure, etc.). Past patterns do not guarantee future results. Indicator
Regression-Aligned Candlestick Architect [MarkitTick]💡 The Regression-Aligned Candlestick Architect is an advanced, institutional-grade technical analysis instrument engineered to seamlessly fuse structural market context with precise, deterministic candlestick morphology. Rather than presenting isolated, noisy signals, this indicator operates as a holistic market mapping system. It dynamically identifies changes in market character (CHoCH), anchors statistical regression channels to these pivotal structural nodes, and overlays a rigorously filtered, strength-tiered candlestick pattern recognition engine. This tool empowers analysts to visualize the exact mathematical relationship between micro-level price action anomalies and macro-level statistical deviations.
● ✨ Originality and Utility
Standard candlestick recognition tools often suffer from a fatal flaw: signal noise. By identifying every single pattern across the chart regardless of context, they overwhelm the analyst with false positives. This indicator revolutionizes pattern detection by introducing a multi-dimensional filtering matrix.
Contextual Awareness: Patterns are cross-referenced against a dynamic Simple Moving Average (SMA) baseline, ensuring that continuation patterns are only validated when aligned with the prevailing macroeconomic trend.
Hierarchical Strength Matrix: Patterns are not treated equally. They are mathematically scored and classified into five distinct strength tiers, from baseline indecision to highly reliable structural anomalies.
Anchored Statistical Modeling: Instead of static support and resistance lines, this tool maps volatility using an anchored Linear Regression Channel (LRC) that resets automatically upon validated structural breaks (CHoCH), providing an evolving map of fair value and extreme deviation.
Institutional Automation Ready: Built-in webhook templates format high-conviction signals directly into actionable JSON payloads, bridging the gap between discretionary charting and algorithmic execution.
● 🔬 Methodology and Concepts
The architecture of this script relies on a confluence of three primary mathematical and logical engines.
• Quantitative Pattern Recognition
The core engine deconstructs each individual candlestick into absolute mathematical variables: body size, total high-low range, upper shadow ratio, and lower shadow ratio. By applying rigid algorithmic tolerance thresholds (e.g., Dojis strictly requiring a body-to-range ratio of less than 5%), the script actively eliminates subjective interpretation.
• The Strength Stratification System
The indicator systematically grades market geometry into five actionable categories:
Strength 1 (Indecision): Identifies market equilibrium phases and compression (e.g., Doji, Spinning Tops).
Strength 2 (Weak Signals): Early signs of exhaustion that require further context (e.g., Hanging Man, Inverted Hammer).
Strength 3 (Moderate Confirmations): Standard two-candle reversal structures (e.g., Harami, Piercing Line, Dark Cloud Cover).
Strength 4 (Strong Confirmations): High-conviction multi-candle configurations (e.g., Engulfing setups, Morning/Evening Stars, Marubozu).
Strength 5 (Extreme Conviction): Rare, highly reliable setups signaling massive structural imbalances (e.g., Three White Soldiers, Breakaway Gaps).
• Structural CHoCH and LRC Anchoring
The script continuously scans for localized Pivot Highs and Pivot Lows using customizable look-left and look-right parameters. When the price closes beyond the most recent opposing pivot node, a Change of Character (CHoCH) is registered. This event immediately triggers the recalculation of the Linear Regression Channel, anchoring the starting point to the critical pivot and projecting statistical deviation bands forward to track the new trend's trajectory.
● 🎨 Visual Guide
The interface is meticulously designed with a 3D holographic aesthetic to ensure clarity without cluttering the primary price action.
• Candlestick Labels and Holographic Colors
Indigo Glass (Strength 1): Muted, translucent tones denoting indecision and market pauses without demanding immediate attention.
Cyber Blue & Violet (Strength 2 & 3): Intermediate colors highlighting developing reversals or moderate continuation patterns.
Neon Mint (Bullish Strength 4-5): Bright, high-contrast markers indicating strong bullish dominance (e.g., BE+, 3WS), plotted below the bar.
Hot Pink (Bearish Strength 4-5): Intense, high-visibility markers warning of severe bearish pressure (e.g., BE-, 3BC), plotted above the bar.
Cyber Gold (Special/Exhaustion): Reserved strictly for profound trend exhaustion signatures, such as the Three Line Strike configuration.
To learn more about Candlestick patterns, access the following link:
Quantitative Analysis of Algorithmic Candlestick Pattern
• Linear Regression Channel Bands
Active LRC: Displays a Neon Cyan midline representing the mean regression. Soft Cyan and Deep Azure dashed and dotted lines represent the first and second standard deviation bands respectively, filled with translucent gradient shading to represent volatility zones.
Historical LRC: Previous channels are preserved in deep Magenta and Blue-Violet hues. This allows the analyst to review past structural behavior, momentum shifts, and how price transitioned between volatility states.
● 📖 How to Use
This indicator is optimized for confluence trading. Discretionary traders should look for optimal alignment between the LRC boundaries and high-tier candlestick patterns.
Define the Structural Boundary: Observe the active Neon Cyan LRC. Determine if the current micro-trend is contained safely within the inner standard deviation bands or if it is stretching into extreme statistical anomaly (touching or piercing Band 2).
Wait for Signal Convergence: A standalone pattern is interesting, but confluence is key. A Strength 4 (Neon Mint) Bullish Engulfing pattern occurring exactly at the lower boundary (Band 2) of an ascending LRC presents an exceptionally high-probability mean-reversion or trend-continuation setup.
Automate Execution: Utilize the built-in alert system to capture the exact entry price alongside dynamically calculated ATR-based Stop Loss and Take Profit levels when a tier 4 or 5 pattern confirms.
Adapt to Trend Shifts: If a CHoCH occurs, the channel will instantly snap to the new trajectory. Immediately shift your directional bias and await new pattern formations that align with the updated regression mean.
● ⚙️ Inputs and Settings
The indicator provides granular control over internal parameters, allowing adaptation to varying asset classes and timeframes.
• General & Strength Filters
Max Patterns to Display: Limits historical label rendering to keep the chart performant and visually clean.
Show Only Trend-Appropriate Patterns: A critical toggle that forces the engine to ignore counter-trend signals by filtering outputs through the internal SMA logic.
Strength Toggles (S1 - S5): Allows the user to independently enable or disable specific tiers. Professional traders often disable tiers 1-3 to focus exclusively on high-probability tier 4 and 5 formations.
• Current Anchored CHoCH LRC
Pivot Left/Right Bars: Dictates the sensitivity of the Change of Character detection. Higher numbers require major macro swings to shift the channel, while lower numbers tightly track micro-structure fluctuations.
Band Multipliers (1 & 2): Adjusts the mathematical standard deviation widths of the regression channel. Defaulted to standard 1.0 and 2.0 deviations.
• Webhook Execution Configuration
Action Strings: Define custom text identifiers (e.g., 'long', 'closeshort') that will be injected into the automated JSON payload when high-strength signals or CHoCH events trigger on a confirmed bar close.
● 🔍 Deconstruction of the Underlying Scientific and Academic Framework
The analytical depth of this script is heavily grounded in established statistical mathematics and heuristic geometric modeling.
• Statistical Modeling via Ordinary Least Squares (OLS)
The dynamic Linear Regression Channel is derived using the Ordinary Least Squares method. The script iteratively loops through the dynamically anchored period (from the algorithmic CHoCH trigger to the current bar index) to calculate the line of best fit. It computes the summation of price coordinates, calculating the slope and y-intercept to minimize the sum of the squared residuals.
Furthermore, the indicator calculates the population standard deviation of these residuals (errors) to project the outer variance bands. In a normally distributed financial dataset, approximately 68% of price action should remain within Band 1, and 95% within Band 2. When price forcefully breaches Band 2, it statistically indicates an unsustainable momentum extreme, shifting the probability matrix heavily toward imminent mean-reversion.
• Quantitative Candlestick Heuristics
Traditional Japanese Candlestick theory relies heavily on qualitative visual assessment. This indicator transforms it into a rigorous quantitative science. By expressing wicks, shadows, and true bodies as strict fractional ratios of the total period variance, the algorithm entirely removes psychological bias. For instance, an Engulfing pattern is not merely determined by a visual overlap; the internal logic mathematically validates that the current open and close parameters completely eclipse the previous period's boundaries, while simultaneously verifying that the absolute body size explicitly exceeds the prior via comparative array lookbacks. Furthermore, advanced configurations like the 'Three Line Strike' necessitate the sequential tracking of four independent vector arrays to confirm precise exhaustion geometry and statistical anomaly.
⚠️ Disclaimer
All provided scripts and indicators are strictly for educational exploration and must not be interpreted as financial advice or a recommendation to execute trades. I expressly disclaim all liability for any financial losses or damages that may result, directly or indirectly, from the reliance on or application of these tools. Market participation carries inherent risk where past performance never guarantees future returns, leaving all investment decisions and due diligence solely at your own discretion. Indicator
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TechniTrend: CandleMetrics🟦 Overview
The TechniTrend: CandleMetrics Indicator is a powerful tool designed to give traders an in-depth analysis of candlestick structures. This indicator allows users to identify potential reversal points, trend continuations, and other crucial market behaviors by examining key ratios between candle components—such as body, shadow, and overall range—alongside volume conditions. The advanced filtering options offer flexibility for both novice and experienced traders, enabling tailored setups to suit different trading strategies.
🟦 Key Features
🔸Customizable Ratios: Set thresholds for Body-to-Range, Shadow-to-Range, Upper Shadow-to-Range, and Lower Shadow-to-Range ratios.
🔸Volume-Based Filters: Integrate volume conditions to strengthen the reliability of signals.
🔸Flexible Conditions: Choose whether filters should work independently or in combination, allowing for precise pattern identification.
🔸Visual Markers: Mark potential signals with a distinct background color and symbols on the chart.
🔸Alerts: Receive notifications for each selected condition, ensuring you never miss an opportunity.
🟦 How It Works
The CandleMetrics Indicator operates by analyzing the relationship between different components of each candlestick, combined with volume data to determine the strength of signals. Here’s a detailed breakdown of each feature:
🔸 Body to Range Ratio:
This filter compares the size of the candle's body to its total range (from high to low).
Example Setting: If you’re interested in spotting candles with small bodies relative to their total range, you might set the Body-to-Range Ratio to “Less than 0.3.”
🔸 Shadow to Range Ratio:
This examines the combined size of both shadows (upper and lower) relative to the entire candle range.
Example Setting: Use a Shadow-to-Range Ratio set to “More than 0.8” to find candles with significant wick lengths, suggesting market indecision.
🔸 Upper Shadow to Range Ratio:
This filter assesses the proportion of the upper shadow (wick) in relation to the candle’s full range.
Example Setting: “Less than 0.05” can help identify situations where the upper shadow is minimal, indicating strong downward pressure.
🔸 Lower Shadow to Range Ratio:
It measures the lower shadow compared to the entire candle range.
Example Setting: “More than 0.7” is useful for detecting potential rejection patterns at lower prices, hinting at a possible bullish reversal.
🔸 Volume Filter:
Integrates volume data to verify the reliability of each candle pattern.
Example Setting: Apply a Volume Filter Length of 100 with an SMA type to smooth volume data over a longer period, filtering out short-term noise and focusing on significant volume shifts.
🟦 Combining Filters
The indicator offers an option to Combine Filters. When this setting is enabled, all selected conditions must be met simultaneously for a candle to be marked. If disabled, each condition functions independently, allowing more flexibility in detecting diverse patterns.
🟦 Examples & Use Cases
🔸Example 1: Spotting Reversal Opportunities
I used the following configuration to find potential bullish reversals:
Upper Shadow to Range Ratio: “Less than 0.05” – Looking for candles with almost no upper shadow.
Lower Shadow to Range Ratio: “More than 0.7” – Highlighting candles with a significant lower shadow.
Volume Filter Length: 100 with SMA.
This setup effectively highlights candles where price rejection is happening at lower levels, suggesting a potential trend reversal to the upside.
🔸Example 2: Detecting Market Uncertainty
If you want to focus on candles showing market hesitation, try:
Shadow to Range Ratio: “More than 0.85” – Emphasizing long-wick candles that could indicate indecision.
Disable Combine Filters to allow flexibility, marking any candle meeting the above criteria.
🟦 Detailed Explanation of Each Option
Here’s a clear and concise breakdown of each option for a better understanding:
1. Body to Range Ratio
Purpose: This ratio shows how significant the candle's body is compared to its overall range. A smaller body-to-range ratio can indicate a potential reversal if the market appears indecisive.
How to Use: Increase the ratio to filter for stronger trend candles; decrease it to identify reversal or indecision candles.
2. Shadow to Range Ratio
Purpose: This filter captures the size of both shadows relative to the candle's total range. A larger ratio often points to market hesitation, while a smaller ratio suggests a decisive move.
How to Use: Adjust this filter to focus on candles with long wicks (indecision) or short wicks (decisiveness).
3. Upper Shadow to Range Ratio
Purpose: Helps to identify candles with strong downward moves by focusing on the upper wick length. A small upper shadow can imply sellers' dominance.
How to Use: Lower the ratio to detect candles with minimal upward rejection.
4. Lower Shadow to Range Ratio
Purpose: Targets candles with strong buying pressure by analyzing the lower shadow. A larger lower shadow may indicate a bullish reversal.
How to Use: Increase the ratio to spot rejection candles with significant lower shadows.
5. Volume Filter
Purpose: Adds a volume component to verify the validity of each candlestick pattern. Higher-than-average volume often signifies the strength of a move.
How to Use: Adjust the filter length and type to smooth out volume fluctuations based on your trading timeframe.
🟦 Indicator Alerts
Each filter has its own alert configuration, enabling traders to stay updated on market conditions that meet their selected criteria. You can customize alerts to trigger whenever a condition is met, helping to manage trades even when away from the screen. Indicator
Trading Session TemplateDescription:
The Trading Session Template Indicator is a powerful script that allows traders to customize their own trading session time range on a chart. With this indicator, you have the flexibility to define specific hours during which you prefer to focus your trading activities. The example chart showcases the New York session hours, but you can easily adapt it to any desired time range based on your trading strategy and preferences.
Key Features:
Customizable Trading Session: The indicator empowers you to define your own trading session time range, tailored to your preferred market sessions or specific trading hours. This flexibility ensures that the indicator aligns with your unique trading strategy.
Highlighted Trading Session: When a new trading day begins, the script automatically scans for the specified time range. Once the first candle within the range begins printing, the background color of the chart is highlighted, indicating the beginning of the trading session. When the last candle within the range is closed, the background color returns to normal.
Focus on Specific Market Sessions: This indicator is particularly useful for traders who prefer to trade certain market sessions or specific hours during the day. By customizing the trading session, you can better align your trading activities with specific market conditions and trading opportunities.
Candle Pattern Detection: The indicator includes the ability to detect candle patterns such as Doji, Engulfing, Hammer, and Shooting Star. You can activate the desired candle patterns and set up alerts for them. When an alert is triggered, indicating the formation of a specific candle pattern, you can further analyze the market and make informed trading decisions.
ATR Filter: The indicator offers an ATR (Average True Range) filter to limit noise and focus on candle patterns with a size comparable to the ATR. You can set a minimum and maximum size for a candle compared to the ATR. This helps you filter out smaller or larger candles that may not align with your trading preferences.
Stop Loss (SL) and Take Profit (TP) Levels: When a candle pattern is detected, based on the ATR, the indicator can display suggested Stop Loss and Take Profit levels. This feature provides additional guidance for risk management and potential profit targets.
User-Friendly Interface: The indicator provides a user-friendly interface with adjustable settings and switches for customization. Tooltips are available to guide you through the various options and configurations, making it easy to adapt the indicator to your trading style and preferences.
Note:
The Trading Session Template Indicator is designed for timeframes lower than 1D. It does not plot any information on timeframes of 1D and higher.
Disclaimer:
The Trading Session Template Indicator is provided for informational and educational purposes only. Trading in the financial markets involves risk, and you should only trade with funds that you can afford to lose. The indicator's past performance is not indicative of future results. Always conduct your own research and due diligence before making any investment decisions. The creator of this indicator shall not be held responsible for any losses or damages incurred from the use of this indicator. Indicator
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Candles Colored Green/Red According To Buy & Sell PressureCANDLES COLORED GREEN OR RED ACCORDING TO BUY & SELL PRESSURE
This indicator paints each candle green, red or blue depending on whether the buy/sell pressure for that candle is bullish, bearish or neutral.
***TURN OFF NORMAL CANDLE COLORS***
For this script to show properly on the chart, make sure you go to chart settings(gear icon in top right corner) and in the symbol tab, uncheck body, borders and wick.
***HOW TO USE***
When the directional movement index indicator shows more buying pressure than selling pressure, the candle will appear lime green. This indicates bullish buying pressure.
When the directional movement index indicator shows more selling pressure than buying pressure, the candle will appear red. This indicates bearish selling pressure.
When the directional movement index indicator shows the same amount of buy and sell pressure, the candle will appear blue. This indicates neutral buy/sell pressure.
Use the color changes to see if there is more buying or selling to pinpoint reversals and understand current market buying. Wait to enter or exit positions until the candles turn the opposite color.
***MARKETS***
This indicator can be used as a signal on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES***
This DMI color coded candlestick indicator can be used on all timeframes.
***TIPS***
Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are our Auto Fibonacci, Directional Movement Index, Color Coded Buy & Sell Pressure Volume Profile, Auto Support And Resistance and Money Flow Index in combination with this Buy & Sell pressure Candle indicator.
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