Display Filters
There are a few indicator parameters, namely Max Shared Legs, Minimize Pattern Overlap and Hide Inside Patterns, that directly impact the patterns that you will see on your chart. What these parameters do is fairly straightforward but you need to understand how they can impact the pattern display.
•Max Shared Legs: This controls how many pattern swing points (i.e., where the O, X, A, B, C, D labels are drawn) that can be shared between patterns. If any two patterns overlap, and if they currently share more than the allowed number of swing points, then the first pattern found/drawn will be kept and the newer one will be discarded. The default value for this parameter is 3, meaning that up to three swing points can be shared between patterns. You can select a value between 0 and 4.
•Minimize Pattern Overlap?: When checked, this will prevent any new patterns from being drawn unless the first point of the new pattern is at least past the C point of the prior pattern. This can reduce pattern clutter and prevent those situations where multiple similar patterns are created in the same general vicinity.
•Hide Inside Patterns?: When checked, this will hide any patterns that are currently inside the boundaries of a larger pattern. This is simply cosmetic and is intended to reduce pattern clutter in the chart.
 Minimize Pattern Overlap turned off |
 Minimize Pattern Overlap turned on |
There are a few other settings that can impact the number (and size) of patterns that you will see, or that will modify the pattern display:
•Min Pattern Length: This determines the smallest allowable pattern based on length in bars. The default is 30 bars (meaning that a pattern must be at least 30 bars in length). You can select a value between 20 and 100. By adjusting Min Pattern Length and Max Pattern Length you have absolute control over the size of the patterns that the indicator will display.
•Max Pattern Length: This determines the largest allowable pattern based on length in bars. The default is 300 bears (meaning that a pattern must be less than or equal to 300 bars in length). You can select a value between 100 and 1000. Note that this setting can impact the performance of the indicator and may lead to TradingView timeout errors if a very large length setting is selected. By adjusting Min Pattern Length and Max Pattern Length you have absolute control over the size of the patterns that the indicator will display.
•Mute Overlapping Patterns?: In situations where two or more patterns overlap (i.e., the end point of pattern "A" is past the first point of pattern "B") you can end up with zone lines from two or more patterns displayed in the same general vicinity. If this option is turned on it will turn off the zone lines for the older, encroaching patterns and will also display them in a higher transparency so that they are not as distracting. This is purely a cosmetic option meant to help reduce pattern clutter. The default value is unchecked.
•Hide Old Zone Lines?: This is another purely cosmetic option. If this option is checked it will turn off zone lines for all but the most current pattern. The default value is unchecked.
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Note: The Minimize Pattern Overlap and Max Shared Legs settings discussed above applies only to Confirmed patterns. In other words, any Pending pattern will be displayed (by the chart patterns indicator as well as the watchlist) even if it violates the overlap and/or shared leg rules. This is done so that you at least are aware of a possible pattern and will have the opportunity to turn off the Minimize Pattern Overlap setting OR adjust your number of shared legs should you decide you want to trade this pattern. |
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