Head Shoulders Finder
Indicator
436 downloads
Version 1.0, May 2025
Windows, Mac
5.0
Reviews: 1
Description
This indicator identifies Head and Shoulders and Inverted Head and Shoulders patterns by analyzing pivot highs and lows in price data. It plots lines, labels, and signals for potential trend reversals, triggering short conditions when the price crosses below the neckline (bearish) or long conditions when above (bullish). Traders can use these signals to enter short or long positions, combining with other analyses and risk management to optimize trading strategies.
Summary
AI summary
The Head Shoulders Finder is a technical indicator designed to detect Head and Shoulders and Inverted Head and Shoulders chart patterns by analyzing pivot highs and lows in price data. It visually marks these patterns with lines and labels on the price chart, highlighting potential trend reversal points. The indicator generates trading signals by identifying when the price crosses the neckline: a break below signals a bearish trend reversal suitable for short positions, while a break above indicates a bullish reversal for long positions. Traders can use these signals alongside other technical analyses and risk management strategies to inform entry decisions. This tool supports pattern recognition and signal plotting to assist in identifying potential trading opportunities based on classic reversal formations.
Indicator profile
Customer reviews
5.0
Reviews: 1
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Customer reviews
August 18, 2025
Automatically detects Head & Shoulders patterns, customizable visuals. Cons: No pattern reliability filter, no alerts, false signals on low TFs.
Discussion
FAQ
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