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Scanner Settings

Detection Settings​

  • Consolidation Size: Adjust the size of the consolidation patterns (e.g., small or large patterns).
  • Min. Touch Points: Set the minimum number of touch points required for a valid consolidation pattern.
  • Tolerance: Adjust the tolerance level for pattern detection (lower values result in more accurate patterns).
  • Head and Shoulders Size: Set the size of the Head and Shoulders patterns.
  • Use Straight Neckline: Enable this option to use a straight neckline for Head and Shoulders calculations.

Trade Management​

  • Use Significant Breakouts: Enable this option to only consider significant breakouts based on a tolerance threshold.
  • Min. Risk-Reward Ratio: Set the minimum risk-reward ratio for trade entries.
  • Take Profit Levels: Define TP1, TP2, and TP3 targets based on the pattern's price range.

Alert Settings​

  • Consolidation Pattern Active: Receive alerts when a consolidation pattern is detected.
  • Consolidation Breakout: Receive alerts when a breakout occurs (confirmed or unconfirmed).
  • Head and Shoulders Pattern Active: Receive alerts when a Head and Shoulders pattern is detected.
  • Head and Shoulders Breakout: Receive alerts when a breakout occurs (confirmed or unconfirmed).

Visualization​

  • Location: Choose where the table is displayed on the chart (e.g., Top Right, Middle Center).
  • Text Size: Adjust the size of the text in the table (e.g., Small, Large).
  • Display Exchange Names: Choose whether to show full exchange names or just the symbol names.

Tips for Effective Use​

  • Adjust Settings: Fine-tune the settings to match your trading style and the specific assets you are trading.
  • Monitor Multiple Timeframes: Apply the scanner to different timeframes to identify patterns across short-term and long-term charts.
  • Set Alerts: Use alerts to stay informed about potential trading opportunities without constantly monitoring the chart.

Troubleshooting​

  • Scanner Not Loading: If the scanner does not display properly, try deleting it from the chart and re-adding it. Alternatively, switch to a different timeframe or refresh the TradingView page.
  • Timeout Issues: If you encounter timeout issues, reduce the number of symbols being scanned or increase the calculation limit in the settings.