Rigel-74 › XRPUSD (XRP / US Dollar) · 4h
Falling Wedge
Drag to rotate, scroll to zoom.
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 |
|---|---|---|---|---|
| L1 | Oct 18, 04:00 PM | Oct 18, 04:00 PM | 0 | 1.2562 |
| H2 | Oct 21, 04:00 PM | Oct 21, 04:00 PM | 18 | 1.3992 |
| L3 | Oct 24, 12:00 PM | Oct 24, 12:00 PM | 35 | 1.2546 |
| H4 | Oct 28, 12:00 AM | Oct 28, 12:00 AM | 56 | 1.3444 |
| L5 | Oct 30, 12:00 AM | Oct 30, 12:00 AM | 68 | 1.2002 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- ResistanceOct 18, 04:00 PM · 1.4252 → Oct 31, 08:00 PM · 1.3112
- SupportOct 18, 04:00 PM · 1.2650 → Oct 31, 08:00 PM · 1.2006
This pattern's track record
On the 4h chart
48%
Target reached after breakout
- Breakout rate
- 82%
- Reached half the target
- 62%
- Average time to target
- 9.3 days
- Cases
- 187 resolved cases
All timeframes
41%
Target reached after breakout
- Breakout rate
- 84%
- Reached half the target
- 59%
- Average time to target
- 14.1 days
- Cases
- 722 resolved cases
What is this pattern?
Highs and lows both fall, but highs fall faster so the channel narrows. A close above the upper line usually targets the area where the wedge began.
A close below the last low invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.