2-Pivot Falling Bullish Wedge by StockTraderChia

This indicator specializes in identifying high-conviction bullish reversals by combining geometric price patterns with float-based volume analysis. Unlike standard wedge detectors, it focus on "No-Lag" entries by calculating the real-time slope of the descending resistance line and requiring a price breakout above the specific Pivot High level to confirm momentum. Its most unique feature is the Relative Volume Turnover filter, which prevents "fakeouts" by ensuring a signal only triggers when a significant percentage of the stock's tradable float has changed hands on the breakout bar. This makes it particularly effective for trading low-float "runners" and IPOs where understanding the relationship between volume and available supply is critical for predicting a sustained trend reversal.
 
How the Indicator Works
1. Pattern Detection
The script uses a 4-point pivot sequence to identify a "Falling Bullish Wedge." It specifically looks for a tightening price range where both the highs and lows are trending downward, but the downward slope of the highs is steeper than that of the lows.
 
2. No-Lag Entry Trigger
Instead of waiting for a candle to close, the script calculates the real-time slope of the upper resistance line. A "Possible Long" signal triggers immediately when:
Price breaks above the descending resistance line.
Price is higher than the PH2 (the second pivot high) level.
The bar's volume exceeds a user-defined percentage of the total float.
 
3. The "Trap" Level
Momentum Confirmation: While the wedge's descending resistance line shows a breakout from the pattern, the PH2 level represents the most recent local peak within that wedge. Requiring a break above this level ensures the stock isn't just drifting sideways but has actual bullish conviction to overcome previous selling pressure.
Preventing "Fakeouts": In many "traps," price breaks a trendline only to immediately reverse. By making the PH2 a secondary requirement for the "Possible Long" signal, the script filters out weak breakouts that fail to clear the last significant high.
Short Squeeze Potential: If the price clears the PH2 level, traders who went short at that pivot are effectively "trapped" and may be forced to cover their positions, providing additional fuel for the upward move
 
4. Float-Based Filtering
A unique feature is its focus on Relative Volume Turnover. It fetches the symbol's free float (or allows for a manual override) and only signals a breakout if the specific breakout candle has enough "effort" (volume) behind it relative to the total shares available.
 
5. Dynamic Visual HUD
It includes a custom Heads-Up Display (HUD) at the bottom of the chart that tracks:
Entry Price: The exact price where the breakout was detected.
Real-time P/L: Both the raw price difference and the percentage gain/loss since the entry.
Float Metrics: Displays the float size and the percentage of the float traded on the signal bar.
Color-Coded Wedges: Each new wedge detected is assigned a unique color from a cycle to make them easy to distinguish on the chart.
Real-Time HUD: A sleek table at the bottom of your screen displays the Entry Price, current P/L % of the short, and the Free Float stats for the stock.
 
6. Customization
The code includes a Mobile Layout Mode to shrink the UI for phone users and allows users to toggle between Regular Trading Hours (RTH) and Extended Hours data for detection.
 
 
How you will receive this purchase via e-mail (please check junk mail if you do not see it):
1. You will receive a zip file which contains two files:
2-Pivot Falling Bullish Wedge by StockTraderChia.txt
How to install and use 2-Pivot Falling Bullish Wedge by StockTraderChia.pdf
 
 
Full Disclaimer, Terms of Use, and No-Refund Policy
By purchasing, downloading, or using this "2-Pivot Falling Bullish Wedge by StockTraderChia" Pine Script (the "Indicator"), you are agreeing to the following terms and conditions.
 
Please read this disclaimer carefully before using the Indicator.
1. Risk Disclosure and "As-Is" Status
The Indicator provided is for educational and informational purposes only. It is not intended as financial advice, solicitation, or a recommendation to buy or sell any stock, security, or cryptocurrency.
No Guarantees of Profit: Stock trading involves substantial risk of loss and is not suitable for every investor. There is no guarantee that the use of this Indicator will result in profits or prevent losses.
Use at Your Own Risk: The user accepts full responsibility for all trading decisions, analysis, research, prices, charts, and market interpretations that they make while using this Indicator. The creator and seller of this script bear no responsibility for your trading outcomes.
Data Reliability: The Indicator relies on third-party data sources (TradingView, financial data providers). The creator cannot guarantee the accuracy, completeness, or timeliness of this underlying data.
 
2. Limitation of Liability
The Creator of this script cannot be sued for your usage of the indicator.
To the maximum extent permitted by applicable law, the creator and seller shall not be liable for any direct, indirect, incidental, special, consequential, or exemplary damages, including but not limited to, damages for loss of profits, data, or other intangible losses, resulting from:
The use or the inability to use the Indicator;
The costs of procurement of substitute goods and services;
Any decisions made or action taken by you based on the information provided by the Indicator.
 
3. No Refund Policy
There are no refunds available for the purchase of this Indicator.
All sales are final. Due to the nature of digital goods and intellectual property (Pine Script source code), once the product is delivered or downloaded, we are unable to process any refunds, returns, or exchanges. By purchasing this Indicator, you acknowledge and agree to this no-refund policy.
 
4. Acceptance of Terms
Your purchase and use of the "2-Pivot Falling Bullish Wedge by StockTraderChia" constitute your express acceptance of all terms detailed in this disclaimer. If you do not agree with these terms, do not purchase or use the Indicator.