Quasar-61 › SPX (S&P 500 (SPY ETF)) · 4h
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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 |
|---|---|---|---|---|
| T1 | Oct 21, 05:30 PM | Oct 21, 05:30 PM | 0 | 774.44 |
| N | Oct 23, 01:30 PM | Oct 23, 01:30 PM | 3 | 758.68 |
| T2 | Oct 28, 05:30 PM | Oct 28, 05:30 PM | 10 | 773.36 |
| BRK | Oct 30, 01:30 PM | Oct 30, 01:30 PM | 758.68 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- NecklineOct 21, 05:30 PM · 758.68 → Oct 29, 05:30 PM · 758.68
- ResistanceOct 21, 05:30 PM · 774.44 → Oct 28, 05:30 PM · 773.36
This pattern's track record
On the 4h chart
56%
Target reached after breakout
- Breakout rate
- 48%
- Reached half the target
- 77%
- Average time to target
- 7.2 days
- Cases
- 55 resolved cases
All timeframes
62%
Target reached after breakout
- Breakout rate
- 52%
- Reached half the target
- 79%
- Average time to target
- 7.9 days
- Cases
- 275 resolved cases
What is this pattern?
After an advance, two peaks form at about the same level. The low between them is the trigger; a close below it targets a move equal to the peak-to-trough height.
A close above the peaks invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.