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
38 lines of Pine Script v5 from candlesticks/tweezer_top_bottom.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
Tweezer Top/Bottom Pattern checks for matching bar highs or lows across consecutive candles while filtering out doji or weak candles based on user-defined threshold percentages. Trend direction prior to the pattern is confirmed using a customizable lookback period. Upon detecting a pattern, the script highlights the participating bars with custom bar colors and plots labeled arrow markers above or below the price candles to signal potential reversal setups.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Show Tweezer Top
bool
true
showTweezerTop
Show Tweezer Bottom
bool
true
showTweezerBottom
Lookback Period
int
5
lookbackPeriod
Doji Threshold (0.1 = 10%)
float
0.1
dojiThreshold
Weak Candle Threshold (0.30 = 30%)
float
0.30
weakCandleThreshold
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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