The Hexad Pattern Recognition in TradingView
Coding a Hexad Candlestick Pattern Scanner in TradingView
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Candlestick patterns are a great addition to market analysis. Some may even consider them vital in research and trading. This article presents the Hexad pattern and shows how to code a scanner in TradingView that detects it.
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The Hexad Pattern
Candlestick charts are among the most famous ways to analyze the time series visually. They contain more information than a simple line chart and have more visual interpretability than bar charts.
The Hexad pattern is a six-candlestick contrarian configuration. The general shape is a few stabilizing candles.
The bullish Hexad is composed of three bullish candlesticks that follow three bearish candlesticks with the last candlestick having a close higher than the high of the first candlestick. The following Figure shows a theoretical illustration of the bullish Hexad.
The bearish Hexad is composed of three bearish candlesticks that follow three bullish candlesticks with the last candlestick having a close lower than the low of the first candlestick. The following Figure shows a theoretical illustration of the bearish Hexad.
