Strong Geometric Patterns Engine | ProjectSyndicate

The Strong Geometric Patterns Engine indicator automatically detects, validates, and grades nine classic chart patterns using an objective, non-repainting geometry engine to identify high-probability breakout opportunities. It confirms signals only upon a breakout close, projecting adaptive measured-move targets and structural stop-loss levels based on volatility.

Usage

The Usage section describes how the script can be used to identify and trade classic geometric structures. This tool is designed to eliminate the subjectivity of manual pattern drawing by requiring price to close beyond a specific trigger level before a signal is issued.

Pattern Detection and Execution

When a pattern is detected, it remains in a "pending" state. A signal only fires—and historical performance is only recorded—when price achieves a breakout close through the pattern's trigger level. This prevents the repainting issues common in standard ZigZag-based tools.

Risk Management

The tool automatically calculates three primary levels for every confirmed setup:

• Stop Loss (SL): Placed at structural invalidation points with an ADR-based buffer.
• Take Profit 1 (TP1): Set at a conservative fraction of the pattern's measured move.
• Take Profit 2 (TP2): Set at the full projected height of the pattern's measured move.

Quality Scoring

Every setup is assigned a quality score from 0–10 based on symmetry, convergence, and volume confirmation. Users can use these scores to filter for only the most robust setups.

Details

The script utilizes a non-repainting pivot engine to identify nine specific structures:

• Reversal Patterns: Head & Shoulders, Inverse Head & Shoulders, Double Top, and Double Bottom.
• Continuation/Consolidation Patterns: Ascending, Descending, and Symmetrical Triangles, as well as Rising and Falling Wedges.

The engine calculates targets using "Measured Moves," which adapt to the specific height of the pattern identified. These targets are further bounded by the 10-day Average Daily Range (ADR) to ensure that profit targets remain realistic relative to current market volatility. A comprehensive dashboard provides real-time win rates for TP1 and TP2 across all nine pattern types for the specific asset and timeframe being viewed.

Settings

Detection

• Pivot Length: Sets the lookback period for identifying swing highs and lows.
• Equal-Level Tolerance % ADR: Determines how much deviation is allowed for "equal" tops or bottoms.
• Swing-Slope Threshold % ADR: Controls the sensitivity for identifying sloped lines in triangles and wedges.
• Min/Max Pattern Width: Filters patterns based on the number of bars they span.
• Triangle/Wedge Converge Frac: Defines the required rate of convergence for wedge and triangle patterns.

Targets

• TP1/TP2 Multipliers: Adjusts the distance of take-profit levels relative to the measured move.
• Measured-Move Floor/Cap: Sets minimum and maximum boundaries for targets based on ADR.
• SL Buffer (x ADR): Adds a volatility-based cushion to the structural stop loss.

Dashboard & Display

• Patterns: Toggle visibility for specific pattern categories (H&S, Doubles, Triangles, Wedges).
• Show Historic Levels: Enables or disables the display of past trade setups on the chart.
• Dashboard Text Size: Adjusts the scale of the statistical performance table.

FAQ

How do I interpret the Quality Score? The score (0-10) represents the geometric "perfection" of the pattern. Higher scores indicate better symmetry between shoulders or more consistent convergence in triangles.

Why did a pattern disappear before a signal fired? If the pattern's structural integrity is violated or if price moves too far in the opposite direction before a breakout occurs, the pending setup expires to prevent trading invalid structures.

How do I get access to this indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.