Consolidation and Head and Shoulders Scanner

Introduction

The Consolidation & Head and Shoulders Scanner is a powerful TradingView indicator designed to identify and track consolidation patterns and Head and Shoulders (H&S) patterns in real-time. This tool helps traders spot potential breakout opportunities and reversals by scanning multiple symbols and timeframes simultaneously. The indicator provides visual alerts and a table to display the status of detected patterns, making it easier to make informed trading decisions.

Supported Patterns

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Consolidation and Range Pattern

Identifies consolidation zones (ranges) where the price is moving sideways, signaling potential breakouts.

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Head and Shoulders Pattern

Detects both traditional (bearish) and inverse (bullish) Head and Shoulders patterns, which are key reversal patterns.

Features

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Multi-Symbol Scanning

Scan up to 40 symbols simultaneously to monitor multiple assets and timeframes for pattern detection.

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Customizable Settings

Fine-tune pattern detection parameters, risk-reward ratios, and visualization options to match your trading strategy.

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Alert System

Set up custom alerts for pattern formation, breakouts, and confirmations across multiple symbols.