Nova-56 › USDJPY (US Dollar / Japanese Yen) · 4h
Inverse 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 15, 12:00 PM | Oct 15, 12:00 PM | 0 | 157.501 |
| N1 | Oct 19, 08:00 PM | Oct 19, 08:00 PM | 26 | 158.602 |
| H | Oct 23, 12:00 AM | Oct 23, 12:00 AM | 45 | 156.069 |
| N2 | Oct 28, 04:00 PM | Oct 28, 04:00 PM | 79 | 158.336 |
| RS | Oct 30, 08:00 AM | Oct 30, 08:00 AM | 89 | 156.972 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- NecklineOct 15, 12:00 PM · 158.733 → Nov 1, 08:00 AM · 158.225
This pattern's track record
On the 4h chart
56%
Target reached after breakout
- Breakout rate
- 78%
- Reached half the target
- 72%
- Average time to target
- 27.2 days
- Cases
- 63 resolved cases
All timeframes
50%
Target reached after breakout
- Breakout rate
- 69%
- Reached half the target
- 67%
- Average time to target
- 27.3 days
- Cases
- 209 resolved cases
What is this pattern?
The mirror image of head and shoulders. A close above the neckline confirms it; the target projects the head-to-neckline distance up from the breakout.
A close below 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.