Consolidation and H&S Multi-Symbol Scanning
Learn how to effectively use TRN's multi-symbol scanning capabilities to monitor multiple markets simultaneously for consolidation and Head and Shoulders patterns.
Setting Up Symbol Scanning​
Adding Symbols to Scanner​
- Access indicator settings via the gear icon
- Navigate to the "Symbols" section
- Enable desired symbols with checkboxes
- Add up to 20 symbols for concurrent monitoring
Choose symbols with similar volatility and trading characteristics for more consistent pattern detection.
Pattern Monitoring Dashboard​
Understanding Pattern Status​
The scanner provides real-time status updates through an intuitive dashboard:
| Status | Description |
|---|---|
| ACTIVE | Pattern currently forming |
| UP | Bullish breakout in progress |
| DN | Bearish breakout in progress |
| UP CONF | Confirmed bullish breakout |
| DN CONF | Confirmed bearish breakout |
| FAILED | Pattern failed to confirm |
The scanner operates on your selected TradingView timeframe, ensuring pattern detection aligns with your trading perspective.
FAQ​
Does adding more symbols affect scanner performance?​
The scanner is optimized to handle up to 20 symbols with minimal impact on performance. However, for best results, focus on your most traded symbols.
Can I scan different timeframes simultaneously?​
The scanner operates on the currently selected timeframe. To monitor multiple timeframes, you'll need separate chart windows with the indicator applied.
How do I get notified of pattern formations?​
Set up custom alerts through the alerts to receive notifications for pattern formations and breakouts across all monitored symbols.