Cygnus-52 › USDJPY (US Dollar / Japanese Yen) · 1h
Head and Shoulders
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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 |
|---|---|---|---|---|
| LS | Oct 27, 11:00 PM | Oct 27, 11:00 PM | 0 | 158.044 |
| N1 | Oct 28, 08:00 AM | Oct 28, 08:00 AM | 9 | 157.657 |
| H | Oct 28, 06:00 PM | Oct 28, 06:00 PM | 19 | 158.336 |
| N2 | Oct 29, 02:00 AM | Oct 29, 02:00 AM | 27 | 157.620 |
| RS | Oct 29, 01:00 PM | Oct 29, 01:00 PM | 38 | 158.118 |
| BRK | Oct 30, 12:00 AM | Oct 30, 12:00 AM | 157.574 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- NecklineOct 27, 11:00 PM · 157.676 → Oct 29, 11:00 PM · 157.576
This pattern's track record
On the 1h chart
36%
Target reached after breakout
- Breakout rate
- 56%
- Reached half the target
- 62%
- Average time to target
- 2.9 days
- Cases
- 36 resolved cases
All timeframes
28%
Target reached after breakout
- Breakout rate
- 62%
- Reached half the target
- 49%
- Average time to target
- 13.9 days
- Cases
- 169 resolved cases
What is this pattern?
A left shoulder, a higher head and a right shoulder near the left one. The line through the lows between them is the neckline. A close below it projects the head-to-neckline distance down from the breakout point.
A close above the right shoulder invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.