Documentation
5. Chart Patterns
- Created
- Jun 5, 2026
- Updated
- Jun 5, 2026
Chart-pattern detectors find classic price formations automatically and draw them on the price pane, complete with the breakout line, a projected target, and a stop. Add them from the indicator picker like any other study.
Patterns detected
The library ships ten patterns in two families:
- Continuation — Bull Flag, Bear Flag, Bull Pennant, Bear Pennant.
- Reversal — Double Top, Double Bottom, Triple Top, Triple Bottom, Head & Shoulders, Inverse Head & Shoulders.
A flag is a consolidation bounded by two roughly parallel trendlines leaning against the prior move; a pennant is a consolidation bounded by two converging trendlines that narrow to an apex. Double/triple tops and bottoms use a horizontal neckline, while head-and-shoulders uses a five-pivot structure with a sloped neckline.
They follow the standard technical-analysis definitions. A separate study, Williams Fractal, marks individual fractal pivots and is also listed under the Patterns category in the picker.
Inputs
Continuation patterns (flags and pennants) share these inputs:
| Input | Default | Meaning |
|---|---|---|
| Pivot legs | 5 | The 5/5 pivot window that anchors the poles. |
| Min pole move % | 20 | Minimum sharp move for a valid pole. |
| Max pole bars | 20 | Look-back for the start of the pole. |
| Min consolidation bars | 3 | Shortest consolidation accepted. |
| Max consolidation bars | 15 | Longest consolidation searched. |
| Max retrace % | 60 | Deepest pullback allowed, as a % of the pole. |
| Flag channel deviation % | 15 | Parallel tolerance (flags only). |
Double and triple tops/bottoms share their own inputs:
| Input | Default | Meaning |
|---|---|---|
| Pivot legs | 5 | The 5/5 pivot window that anchors the extremes. |
| Tops match tolerance % | 5 | Max % difference across the matching tops/bottoms. |
| Min pattern height % | 3 | Minimum neckline-to-extreme height, as a % of price. |
| Max pattern width | 120 | Maximum bars spanned by the matching extremes. |
Styling
Each pattern study exposes style options: Color, Width, Show target / stop, and Show labels. Toggle the target and stop lines off if you only want the pattern outline.
Next steps
You have covered indicators. Move on to backtesting.
Next: Backtesting Overview