W Pattern Finder

📊 W Pattern Finder

English:

This indicator automatically detects W-Patterns (Double Bottoms) following the HLHL structure and marks the last four crucial points on the chart.
Additionally, it draws the neckline, a Take Profit (TP) and a Stop Loss (SL) – including a Risk/Reward ratio.

✨ Features

* Automatic detection of W-Patterns (Double Bottoms)
* Draws the neckline and the last 4 key points
* Calculates and displays TP and SL levels (with adjustable RR ratio)
* Auto-Clear: All objects are removed once TP or SL is reached
* Fully customizable colors & widths for pattern, TP and SL lines
* Tolerance filter for lows to improve clean pattern recognition
* Visual marking of the W-pattern directly in the chart

⚙️ Settings

* Pivot Length → controls sensitivity of pattern detection
* Line color & width for the pattern
* Individual colors and widths for TP and SL lines
* Risk/Reward Ratio (RR) freely adjustable
* Tolerance (%) for deviation of lows

📈 Use Case

This indicator is especially useful for chart technicians & pattern traders who trade W-formations (Double Bottoms).
With the automatic calculation of TP & SL, it becomes instantly clear whether a trade is worth taking.

⚠️ Disclaimer:
This indicator is not financial advice. It is intended for educational and analytical purposes only.
Use it in trading at your own risk