The Heikin-Ashi Chart Identifier is an indicator that checks if the current chart uses Heikin-Ashi candles. It tracks matched candles where open equals the average of previous open and close, and verifies no gaps between bars. When conditions match, it display
Indicator · Pine Script v5 · On the chart
Rise/Fall of Three Methods
A candlestick pattern detector for the rising and falling three methods setup on a five-candle window.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code53
Settings0inputs
LicenceMIT
Last update1 year ago28 Mar 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
53 lines of Pine Script v5 from rise-fall-of-three-methods.txt, published under MIT. Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © acryptomanqk
//@version=5
indicator("Rise/Fall of Three Methods", overlay = true)
firstCandleOpen = open[4]
firstCandleClose = close[4]
lastCandleOpen = open
lastCandleClose = close
currCandleOpen = open
currCandleClose = close
isValid = false
// If the last candle is bullish
if lastCandleClose > lastCandleOpen
for i = 1 to 3
currCandleOpen := open[i]
currCandleClose := close[i]
// If one of the candles is bullish then its invalidated
if currCandleClose > currCandleOpen
isValid := false
break
if lastCandleOpen < currCandleOpen and lastCandleClose > currCandleOpen and firstCandleOpen < currCandleClose and firstCandleClose > currCandleClose
isValid := true
else
isValid := false
break
// If the last candle is bearish
else
for i = 1 to 3
currCandleOpen := open[i]
currCandleClose := close[i]
// If one of the 3 candles is bearish then its invalidated
if currCandleClose < currCandleOpen
isValid := false
break
if lastCandleOpen > currCandleOpen and lastCandleClose <= currCandleOpen and firstCandleOpen >= currCandleClose and firstCandleClose < currCandleClose
isValid := true
else
isValid := false
break
alertcondition(isValid, "Three Method Alert", "Three Method Detected on {{ticker}}")
bgcolor(isValid ? color.new(color.blue, 30) : na)
Overview
For a bullish final candle it checks that the three candles before it are bearish and sit within the range of the first candle, and for a bearish final candle it does the reverse. When the pattern is found the bar background turns blue and an alert condition fires. It has no inputs and gives no stop or target. The final candle must close before the signal is valid.
- Five-candle continuation pattern detection
- Bullish and bearish variants
- Background highlight on detection
- Alert condition
Details
Published by
DaHuska on GitHub
Code credit
acryptomanqk, as written in the script's header
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Candlestick patterns
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
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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