V Shaped Pattern Indicator?

[Tony909]

Is there an indicator that can detect potential V shaped patterns, e.g. dramatic buying and selling? I have searched everything possible with a focus on volume to no avail.

 

[Tony909]

How would you be able to determine that a chart is going to form a potential V shaped pattern?

The problem is, that there is no way to pinpoint the bottom of the V.
Most of the studies on this forum make the attempt to define the bottom of the V using the 'low'.
But then "low" goes lower. OOps, the scripts will erase that one and then paint the new low and make that the bottom of your V. Starts to look good, starts to get a nice-looking V. You decide to make entry.
But nope. The bottom falls out, the V crumbles. That V is erased. The low goes lower,
The V starts to form way below the loss you accumulated.

Most traders, eventually, learn to not trade on repainted signals.
But if you want to try, there are many studies to assist you in your quest:
https://usethinkscript.com/search/1...1&c[nodes][0]=3&c[title_only]=1&o=replies&g=1

The above zigzag links, attempts to predict V shaped patterns.
All the false zigzags get erased, and then they go back in history and paint the perfect v-shape long after it happened.

No, there is no way to make V-shape scripts not repaint.
Because there is no way to know the bottom of the V-shape until well-after it has formed, and past, and it is now forming the subsequent repainting V.

@MerryDay Thank you for the lead into Zig_Zag indicators and the warning concerning the repainting. I will test this one.

https://usethinkscript.com/threads/...ncl-qqe-non-repainting-for-thinkorswim.12546/

 

[MerryDay]

Is there an indicator that can detect potential V shaped patterns, e.g. dramatic buying and selling? I have searched everything possible with a focus on volume to no avail.

How would you be able to determine that a chart is going to form a potential V shaped pattern?

The problem is, that there is no way to pinpoint the bottom of the V.
Most of the studies on this forum make the attempt to define the bottom of the V using the 'low'.
But then "low" goes lower. OOps, the scripts will erase that one and then paint the new low and make that the bottom of your V. Starts to look good, starts to get a nice-looking V. You decide to make entry.
But nope. The bottom falls out, the V crumbles. That V is erased. The low goes lower,
The V starts to form way below the loss you accumulated.

Most traders, eventually, learn to not trade on repainted signals.
But if you want to try, there are many studies to assist you in your quest:
https://usethinkscript.com/search/1...1&c[nodes][0]=3&c[title_only]=1&o=replies&g=1

The above zigzag links, attempts to predict V shaped patterns.
All the false zigzags get erased, and then they go back in history and paint the perfect v-shape long after it happened.

No, there is no way to make V-shape scripts not repaint.
Because there is no way to know the bottom of the V-shape until well-after it has formed, and past, and it is now forming the subsequent repainting V.