OPEN-SOURCE SCRIPT
4-Bar Reversal Pattern
📌 Title:
4-Bar Reversal Pattern — Multi-Candle Signal Detector
📄 Description:
The 4-Bar Reversal Pattern indicator is a powerful price action tool designed to detect significant market reversal signals based solely on candle structure — no moving averages or indicators involved.
🔍 What it does:
Identifies a unique 4-candle reversal setup:
Long Setup: After 3 consecutive bearish candles, a bullish candle breaks the range (higher high + lower low than the previous bar).
Short Setup: After 3 consecutive bullish candles, a bearish candle breaks the range (lower low + higher high than the previous bar).
Confirms signals only when the current candle closes, increasing signal reliability.
Displays visual labels ("BUY"/"SELL") directly on the chart.
Triggers alerts for long and short setups.
Includes a generic alert option to notify whenever any signal is detected (can be toggled on/off).
⚙️ Customizable Inputs:
Enable/disable generic alert
This indicator is ideal for:
Traders looking for clean, mechanical setups
Price action enthusiasts
Those who trade without lagging indicators
Use it on any timeframe, and combine it with your own filters (RSI, support/resistance, etc.) to refine entries.
Indicator born following the viewing of the following video:
youtube.com/watch?v=B8AKwSfpsHQ
4-Bar Reversal Pattern — Multi-Candle Signal Detector
📄 Description:
The 4-Bar Reversal Pattern indicator is a powerful price action tool designed to detect significant market reversal signals based solely on candle structure — no moving averages or indicators involved.
🔍 What it does:
Identifies a unique 4-candle reversal setup:
Long Setup: After 3 consecutive bearish candles, a bullish candle breaks the range (higher high + lower low than the previous bar).
Short Setup: After 3 consecutive bullish candles, a bearish candle breaks the range (lower low + higher high than the previous bar).
Confirms signals only when the current candle closes, increasing signal reliability.
Displays visual labels ("BUY"/"SELL") directly on the chart.
Triggers alerts for long and short setups.
Includes a generic alert option to notify whenever any signal is detected (can be toggled on/off).
⚙️ Customizable Inputs:
Enable/disable generic alert
This indicator is ideal for:
Traders looking for clean, mechanical setups
Price action enthusiasts
Those who trade without lagging indicators
Use it on any timeframe, and combine it with your own filters (RSI, support/resistance, etc.) to refine entries.
Indicator born following the viewing of the following video:
youtube.com/watch?v=B8AKwSfpsHQ
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。