The Master Candle Pattern Recognition in TradingView

Coding a Master Candle Pattern Scanner in TradingView

Candlestick patterns are a great addition to market analysis. Some may even consider them vital in research and trading. This article presents the Master Candle pattern and shows how to code a scanner in TradingView that detects it.

The Master Candle 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 Master Candle pattern is composed of seven candlesticks where the first one englobes the next five candlesticks before the last one exits either from the upside or the downside.

The following Figure shows a theoretical illustration of a bullish Master Candle pattern.

The following Figure shows a theoretical illustration of a bearish Master Candle pattern.