//@version=5
indicator("Tri-Star - Bullish", shorttitle = "Tri-Star - Bull", overlay=true)
C_DownTrend = true
C_UpTrend = true
var trendRule1 = "SMA50"
var trendRule2 = "SMA50, SMA200"
var trendRule = input.string(trendRule1, "Detect Trend Based On", options=[trendRule1, trendRule2, "No detection"])
if trendRule == trendRule1
priceAvg = ta.sma(close, 50)
C_DownTrend := close < priceAvg
C_UpTrend := close > priceAvg
if trendRule == trendRule2
sma200 = ta.sma(close, 200)
sma50 = ta.sma(close, 50)
C_DownTrend := close < sma50 and sma50 < sma200
C_UpTrend := close > sma50 and sma50 > sma200
C_Len = 14 // ta.ema depth for bodyAvg
C_ShadowPercent = 5.0 // size of shadows
C_ShadowEqualsPercent = 100.0
C_DojiBodyPercent = 5.0
C_Factor = 2.0 // shows the number of times the shadow dominates the candlestick body
C_BodyHi = math.max(close, open)
C_BodyLo = math.min(close, open)
C_Body = C_BodyHi - C_BodyLo
C_BodyAvg = ta.ema(C_Body, C_Len)
C_SmallBody = C_Body < C_BodyAvg
C_LongBody = C_Body > C_BodyAvg
C_UpShadow = high - C_BodyHi
C_DnShadow = C_BodyLo - low
C_HasUpShadow = C_UpShadow > C_ShadowPercent / 100 * C_Body
C_HasDnShadow = C_DnShadow > C_ShadowPercent / 100 * C_Body
C_WhiteBody = open < close
C_BlackBody = open > close
C_Range = high-low
C_IsInsideBar = C_BodyHi[1] > C_BodyHi and C_BodyLo[1] < C_BodyLo
C_BodyMiddle = C_Body / 2 + C_BodyLo
C_ShadowEquals = C_UpShadow == C_DnShadow or (math.abs(C_UpShadow - C_DnShadow) / C_DnShadow * 100) < C_ShadowEqualsPercent and (math.abs(C_DnShadow - C_UpShadow) / C_UpShadow * 100) < C_ShadowEqualsPercent
C_IsDojiBody = C_Range > 0 and C_Body <= C_Range * C_DojiBodyPercent / 100
C_Doji = C_IsDojiBody and C_ShadowEquals
patternLabelPosLow = low - (ta.atr(30) * 0.6)
patternLabelPosHigh = high + (ta.atr(30) * 0.6)
label_color_bullish = input(color.blue, "Label Color Bullish")
C_TriStarBullishNumberOfCandles = 3
C_3DojisBullish = C_Doji[2] and C_Doji[1] and C_Doji
C_BodyGapUpBullish = C_BodyHi[1] < C_BodyLo
C_BodyGapDnBullish = C_BodyLo[1] > C_BodyHi
C_TriStarBullish = C_3DojisBullish and C_DownTrend[2] and C_BodyGapDnBullish[1] and C_BodyGapUpBullish
alertcondition(C_TriStarBullish, title = "New pattern detected", message = "New Tri-Star – Bullish pattern detected")
if C_TriStarBullish
var ttBullishTriStar = "Tri-Star\nA bullish TriStar candlestick pattern can form when three doji candlesticks materialize in immediate succession at the tail-end of an extended downtrend. The first doji candle marks indecision between bull and bear. The second doji gaps in the direction of the leading trend. The third changes the attitude of the market once the candlestick opens in the direction opposite to the trend. Each doji candle has a shadow, all comparatively shallow, which signify an interim cutback in volatility."
label.new(bar_index, patternLabelPosLow, text="3S", style=label.style_label_up, color = label_color_bullish, textcolor=color.white, tooltip = ttBullishTriStar)
bgcolor(ta.highest(C_TriStarBullish?1:0, C_TriStarBullishNumberOfCandles)!=0 ? color.new(color.blue, 90) : na, offset=-(C_TriStarBullishNumberOfCandles-1))
Overview
The indicator detects three consecutive doji candles following an established downtrend, determined by moving average trend rules (SMA 50, SMA 200, or disabled). When the pattern is recognized, it places a label beneath the price bar with detailed pattern tooltips and highlights the background across the pattern candles. Input settings allow users to select the trend detection rule and customize label colors. Built-in alert conditions trigger when a pattern forms.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Detect Trend Based On
string
trendRule1
trendRule
Label Color Bullish
color
color.blue
label_color_bullish
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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