Raschke Patterns: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

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

Raschke Patterns flags Turtle Soup and Turtle Soup plus one false breakouts of a prior extreme, 80-20 bars, inside bars, failed inside-bar breakouts, outside up and down bars, NR4 and NR7 contractions, and unfilled-gap reversals. An ADX-and-EMA setup marks pullbacks to a moving average after a strong trend. Toggles, lookbacks, ATR width, ADX threshold, and EMA length control which patterns and drawings appear, including markers, boxes, swept levels, and a legend. Signals use the bar close and can change until that bar closes.

Turtle Soup and Turtle Soup plus one false-breakout markers
Inside bar, failed breakout, and NR4/NR7 contraction detection
ADX pullback to EMA after a strong trend
Boxes, swept-level lines, candle highlights, and legend
Per-pattern toggles and alerts

Details

Published by

TradersPost on GitHub

Type

Indicator, Pine Script v6

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)

File

projects/raschke-patterns.pine

Repository

github.com/TradersPost/pinescript-agents. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Turtle Soup	`bool`	`true`	`enTS`
Turtle Soup +1	`bool`	`true`	`enTSP`
80-20 Bar	`bool`	`true`	`en8020`
Inside Bar	`bool`	`true`	`enInside`
FIB (failed inside bar)	`bool`	`true`	`enFID`
Outside Up/Down (ODUP/ODDN)	`bool`	`true`	`enOD`
NR4	`bool`	`true`	`enNR4`
NR7	`bool`	`true`	`enNR7`
Bar Gap Reversal	`bool`	`true`	`enGap`
Holy Grail	`bool`	`true`	`enHG`
Turtle Soup Lookback (bars)	`int`	`20`	`tsLookback`
Turtle Soup: require prior extreme is older	`bool`	`true`	`tsRequireOld`

Show all 37 settings

Setting	Type	Default	Variable
min bars since prior extreme	`int`	`4`	`tsMinBarsAgo`
80-20: require wide range	`bool`	`true`	`wide8020`
range > ATR x	`float`	`1.5`	`wideMult`
ATR Length	`int`	`14`	`atrLen`
Inside Bar: breakout buffer (% of box)	`float`	`5.0`	`ibBreakBufPct`
Gap: bars unfilled before reversal	`int`	`3`	`gapLookback`
Gap: max bars to track	`int`	`15`	`gapMaxBars`
Holy Grail: ADX/DI length	`int`	`14`	`adxLen`
Holy Grail: ADX threshold	`float`	`30.0`	`adxThresh`
Holy Grail: EMA length	`int`	`20`	`emaLen`
Show Markers	`bool`	`true`	`showMarkers`
Recolor Contraction Bars (NR/Inside)	`bool`	`true`	`showCandleColor`
Highlight Signal Bars (plotcandle)	`bool`	`true`	`usePlotcandle`
Show Boxes (inside / gap zones)	`bool`	`true`	`showBoxes`
Show Lines (swept levels)	`bool`	`true`	`showLines`
Show Holy Grail EMA	`bool`	`true`	`showEMA`
Show Legend	`bool`	`true`	`showLegend`
Legend Position	`string`	`Top Right`	`legendPos`
Monochrome (gray shades)	`bool`	`false`	`monoMode`
Bullish	`color`	`#2962ff`	`bullColorIn`
Bearish	`color`	`#ff9800`	`bearColorIn`
Contraction (NR4/NR7)	`color`	`#4aa3a3`	`contractColorIn`
Inside Bar	`color`	`#574b90`	`insideColorIn`
Fire alert() on any enabled pattern	`bool`	`true`	`alertOn`
Log events to Pine Logs	`bool`	`true`	`logEvents`

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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