Nova-56 › USDJPY (US Dollar / Japanese Yen) · 4h
Rising Wedge
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Draw it on TradingView
No bar counting. Copy the Pine Script and paste it into TradingView; the pattern, breakout, target and invalidation lines are drawn on exactly these candles.
- 1.Copy the script and open the chart on TradingView.
- 2.Open the Pine Editor at the bottom, clear it and paste.
- 3.Click "Add to chart"; the drawings appear.
Swing points
| Point | Candle open (UTC) | UTC | Bar # | Price |
|---|---|---|---|---|
| H1 | Oct 23, 04:00 PM | Oct 23, 04:00 PM | 0 | 157.090 |
| L2 | Oct 25, 04:00 PM | Oct 25, 04:00 PM | 12 | 156.725 |
| H3 | Oct 27, 08:00 PM | Oct 27, 08:00 PM | 25 | 158.044 |
| L4 | Oct 28, 08:00 AM | Oct 28, 08:00 AM | 28 | 157.657 |
| H5 | Oct 28, 04:00 PM | Oct 28, 04:00 PM | 30 | 158.336 |
| BRK | Oct 29, 12:00 AM | Oct 29, 12:00 AM | 157.890 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- ResistanceOct 23, 04:00 PM · 157.081 → Oct 28, 08:00 PM · 158.336
- SupportOct 23, 04:00 PM · 156.027 → Oct 28, 08:00 PM · 157.832
This pattern's track record
On the 4h chart
32%
Target reached after breakout
- Breakout rate
- 76%
- Reached half the target
- 54%
- Average time to target
- 8.3 days
- Cases
- 202 resolved cases
All timeframes
36%
Target reached after breakout
- Breakout rate
- 79%
- Reached half the target
- 56%
- Average time to target
- 11.5 days
- Cases
- 797 resolved cases
What is this pattern?
Highs and lows both rise, but lows rise faster so the channel narrows. A close below the lower line usually targets the area where the wedge began.
A close above the last high invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.