INVITE-ONLY SCRIPT

NASDAQ W-Pattern Screener

15
Indicator Overview
This Pine Script detects classical W-patterns (double bottoms) in financial markets, providing visual alerts and scan capabilities for potential bullish reversal opportunities.

Key Features
  • Pattern Detection: Identifies valid W-pattern formations
  • Customizable Sensitivity: Adjustable pivot lookback period and tolerance
  • Visual Alerts: Green "W" labels below price bars
  • Screener Compatibility: Outputs binary signal for scanner use
  • Price Alerts: Triggers notifications when patterns form


Input Parameters:

Parameter Default Description
Pivot Lookback Bars 5 Number of bars to check for pivot formation
Trough Tolerance % 2.0 Maximum % difference between trough lows

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