Cygnus-52 › USDJPY (US Dollar / Japanese Yen) · 1h
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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 30, 11:00 AM | Oct 30, 11:00 AM | 0 | 156.972 |
| N | Oct 31, 12:00 AM | Oct 31, 12:00 AM | 13 | 157.659 |
| T2 | Oct 31, 02:00 PM | Oct 31, 02:00 PM | 27 | 157.024 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- NecklineOct 30, 11:00 AM · 157.659 → Nov 1, 12:00 PM · 157.659
- ResistanceOct 30, 11:00 AM · 156.972 → Oct 31, 02:00 PM · 157.024
This pattern's track record
On the 1h chart
52%
Target reached after breakout
- Breakout rate
- 60%
- Reached half the target
- 74%
- Average time to target
- 3.8 days
- Cases
- 81 resolved cases
All timeframes
63%
Target reached after breakout
- Breakout rate
- 56%
- Reached half the target
- 79%
- Average time to target
- 9.2 days
- Cases
- 279 resolved cases
What is this pattern?
After a decline, two troughs form at about the same level. The high between them is the trigger; a close above it targets a move equal to the trough-to-peak height.
A close below the troughs invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.