by webcrack4· code credited to Trendoscope Pty Ltd, Trendoscope®
Auto Chart Patterns Trendoscope automatically identifies and plots technical chart patterns on the main price chart using multi-depth ZigZag pivot calculations.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Auto Chart Patterns Trendoscope detects various geometric formations including channels, wedges, and triangles across rising, falling, or non-directional trends. Traders can filter specific pattern types, adjust ZigZag depth parameters, configure maximum pivot points, and set tolerance thresholds for error and flat slope deviations. Pattern overlays are rendered directly on the chart using polylines and line objects to assist with structure analysis.
Multi-depth ZigZag pivot pattern detection
Automated drawing of channels, wedges, and triangles
Customizable error and flat slope threshold settings
Pattern filtering by trend direction and structure type
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
openSource
source
open
openSource
highSource
source
high
highSource
lowSource
source
low
lowSource
closeSource
source
close
closeSource
useZigzag1
bool
true
useZigzag1
zigzagLength1
int
8
zigzagLength1
depth1
int
55
depth1
useZigzag2
bool
false
useZigzag2
zigzagLength2
int
13
zigzagLength2
depth2
int
34
depth2
useZigzag3
bool
false
useZigzag3
zigzagLength3
int
21
zigzagLength3
Show all 40 settings
Setting
Type
Default
Variable
depth3
int
21
depth3
useZigzag4
bool
false
useZigzag4
zigzagLength4
int
34
zigzagLength4
depth4
int
13
depth4
Number of Pivots
int
5
numberOfPivots
Error Threshold
float
20.0
errorThresold
Flat Threshold
float
20.0
flatThreshold
Last Pivot Direction
string
both
lastPivotDirection
Verify Bar Ratio
bool
true
checkBarRatio
barRatioLimit
float
0.382
barRatioLimit
Avoid Overlap
bool
true
avoidOverlap
Repaint
bool
false
repaint
Channels
bool
true
allowChannels
Wedge
bool
true
allowWedges
Triangle
bool
true
allowTriangles
Rising
bool
true
allowRisingPatterns
Falling
bool
true
allowFallingPatterns
Flat/Bi-Directional
bool
true
allowNonDirectionalPatterns
Expanding
bool
true
allowExpandingPatterns
Contracting
bool
true
allowContractingPatterns
Parallel
bool
true
allowParallelChannels
Ascending
bool
true
allowUptrendChannel
upTrendChannelLastPivotDirection
string
both
upTrendChannelLastPivotDirection
Descending
bool
true
allowDowntrendChannel
downTrendChannelLastPivotDirection
string
both
downTrendChannelLastPivotDirection
Ranging
bool
true
allowRangingChannel
rangingChannelLastPivotDirection
string
both
rangingChannelLastPivotDirection
Rising
bool
true
allowRisingWedgeExpanding
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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