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Birdies

By LuxAlgoSep 19, 2024

Birdies is an indicator on Vela, our next-generation charting platform, written in Pine Script®.

Static chart image

Birdies takes an unusual route to support and resistance zones: rather than drawing straight lines, it fits a circle between the most recent swing high and swing low and extracts a curved segment from it. The projection resembles a bird (hence the name), and its wing boundaries act as dynamic levels that issue visual breakout signals. An optional Origine line connects the first and latest swing for clarity.

How to Trade the Birdies?

  • Wing breakouts: a close through the active wing curve is the trigger; raise Buffer (Multiple of ATR) above its default of 0 to also require clearing an ATR-based buffer, so shallow pokes don't count.
  • Color fill for bias: the fill between patterns tracks trend shifts. Set the Birdy style to None and trade from fill colors alone on a minimal chart.
  • Birdy + Top: a Birdy style option that joins the two wingtips with a horizontal line at the swing price, marking a level of interest; completed Birdies frequently align with pullback areas and key levels.
  • Left Wing: shows only the pattern's left half for an alternative breakout interpretation.

Birdies Settings

  • Swing Length: the observation period for swing detection. Higher values build patterns from longer-term swing levels.
  • Minimum X-Distance: the fewest bars allowed between consecutive swings.
  • Minimum Y-Distance: the separation a new swing must achieve from its predecessor, measured against the ATR, before it is accepted.
  • Buffer (Multiple of ATR): extra room a breakout must travel beyond the pattern before a signal validates.
  • Calculated Bars: limits how many bars are evaluated to keep processing fast.
  • Style toggles: bullish/bearish pattern visibility and colors, buffer zone display, color fill, and the Origine line.

Frequently Asked Questions

Free to use

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Also works on

TradingView
Original indicatorBuilt in-house by LuxAlgo
All 19 S/R Zone indicators

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