TradingView expands its collection of automatic chart patterns by adding Cup and Handle and Inverted Cup and Handle.
A cup and handle is a trend continuation pattern, which is a U-shaped trend correction – a cup and another smaller move right after it, a handle. The handle can also be U-shaped or can appear as a trend line. It is believed that after the break of the handle, the price will go more in the direction of the trend at least by the height of the cup.
Like the other TradingView auto patterns, the new indicators analyze the previous 600 bars. They have all the functions of the other patterns and are listed under “All Chart Patterns”.
To add patterns to the chart, go to the “Indicators, Metrics and Strategies” menu, in the “Technical” section, in the “Patterns” tab.
The new indicators are in beta testing and are only available to users with Premium memberships or higher.