Candlestick Pattern Signals with Trend Filters and Stop Losses

Summary

This partial script presents a TradingView strategy that detects many named candlestick formations and can filter signals by the prevailing trend. The trend setting uses either the close relative to a 50-period simple moving average, the alignment of 50- and 200-period averages, or no trend filter. It also defines candle features such as body size, shadows, and doji structure, with switches for enabling individual patterns and selecting bullish, bearish, or both directions.

The visible strategy settings include initial capital and a configurable stop-loss input. However, the supplied document ends partway through the pattern list, so it does not show the complete entry and exit logic, how the stop is applied, or any full strategy report. It gives no usable performance results or comparison against a baseline. The code is therefore useful as an outline of rule-based candlestick classification and trend filtering, but not as evidence that the combined signals are profitable or robust.

Key ideas

• The strategy classifies candles using body, shadow, and range measurements.
• Users can select bullish patterns, bearish patterns, or both, and toggle individual formations.
• Trend filtering can use a 50-period average, the relationship between 50- and 200-period averages, or no filter.
• The visible settings include a configurable stop-loss input.
• The supplied excerpt is incomplete and provides no performance evidence.

Tags

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