Candlestick Pattern Entries with Stop, Target, and Trailing Controls

Summary

This script defines configurable bullish and bearish candlestick pattern signals, including engulfing candles, harami, piercing line and dark cloud cover, morning and evening stars, belt holds, and several multi-candle formations. Each pattern can be enabled or disabled. The visible rules inspect candle opens, closes, highs, and lows across several bars to identify the formations; the selected pattern set is intended to drive strategy entries. The script also includes configurable stop-loss, take-profit, and trailing-stop values, along with a trading-session filter.

The supplied excerpt ends partway through the pattern definitions, so it does not show the complete entry and exit logic or how every pattern maps to a position. Although the page lists a strategy report, no report results or market-specific evidence are included here. Pattern rules depend on exact candle relationships and may produce different signals across instruments and timeframes. The risk controls are configurable, but their values and effectiveness are not evaluated in the available text.

Key ideas

• The script recognizes multiple bullish and bearish candlestick patterns using multi-bar price relationships.
• Each listed pattern has a setting that allows it to be enabled or disabled.
• Stop-loss, take-profit, trailing-stop, and trading-session settings are provided.
• The available excerpt is incomplete and does not establish the full entry and exit behavior.
• No performance results or validation across markets and timeframes are supplied.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.