LSOB Pattern

#What you see

• A red half-circle with the label "LSOB" above a candle: a bearish pattern at a high.
• A green half-circle with the label "LSOB" below a candle: a bullish pattern at a low.

The colors are fixed; Line Color has no effect.

#How it works

Bearish pattern: the pattern candle trades above the most recent three-candle swing high, its high is above the highs of the candles before and after it, it is an up candle with a long upper wick, and the next candle closes below the pattern candle's open. The bullish pattern is the mirror image: a down candle that trades below the most recent swing low with a long lower wick, followed by a candle that closes above its open.

The label sits on the pattern candle, but it needs the following candle, so it appears one candle later.

#How to read it

The pattern describes a stop run that fails: price takes out the stops beyond a recent high (or low), cannot hold there and turns on the next candle. The extreme of the pattern candle is a natural reference for a stop, its body area for a retest. Use the pattern as a confirmation at levels you already watch – equal highs or lows, a higher-timeframe zone, a session high or low – rather than on every swing.

#Using it in strategies

LSOB Pattern is a visual tool: it has no outputs for the Trade Setup or for use indicator in WickScript. Swing Level Pattern finds the same candles and labels them "Level".

#Settings

Open the settings with the slider icon next to the indicator (Indicators, F3). Numeric settings can be swept as Step 1 / Step 2 parameters when you run a strategy.

#Inputs

#Styles

#Outputs

This indicator draws on the chart only – it has no values for Trade Setup gates or use indicator.