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Horns Pattern Identifier

By LuxAlgoJun 13, 2022

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Horns Pattern Identifier automates the detection of regular and inverted horn patterns and plots the two levels that make them tradeable: a confirmation line and a take-profit target derived from established pattern measurement rules. Horns belong to the family of rare reversal patterns cataloged in Bulkowski's chart-pattern research: low-frequency formations built from twin price spikes that most eyes skip straight past, which is exactly why automated detection earns its keep.

How to Trade the Horns Pattern Identifier?

  • The connecting line: joins the two horns of a detected pattern, marking the formation itself on the chart.
  • Dotted confirmation level: nothing is signaled until price breaches this line. When it does, a label prints the bias, bullish or bearish.
  • Dashed take-profit line: the measured objective for the confirmed pattern, giving each detection a predefined target rather than an open-ended hope.

The confirmation-first design is the point. Because horns are subtle and easy to misjudge by eye, the indicator withholds its bullish or bearish call until price actually commits through the confirmation level, so a formation on its own is never treated as a signal.

Horns Pattern Identifier Settings

  • Threshold: the maximum slope allowed for the line connecting the two horns. Higher values accept steeper, more irregular formations and detect more patterns; lower values keep only clean, level horns at the cost of fewer detections.

Frequently Asked Questions

Free indicator

Get free access to this indicator on the platforms below.

TradingView
NinjaTrader
MetaTrader 4/5
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