Head & Shoulders (ShowMe)Analysis Techniques & Strategies
Head & Shoulders (ShowMe)
| Name | Expression | Default | Description |
| NeckSwStrength | Numeric | 2 | The strength of swing required for the neck portion of the H&S pattern |
| HnSSwStrength | Numeric | 2 | The strength of swing required for the head and shoulders portion of the H&S pattern |
| VertProportionLimit | Numeric | .33 | The maximum proportion difference between neckline and the head swing point |
| HiLo | Numeric | 1 | Used to indicate a Head and Shoulders top (+1) or bottom (-1) |
| ConfirmVolume | Numeric | 1 | When set to 1, will generate a message indicating if the volume behavior matches an H&S pattern; 0 to not display. |
| DrawNeckLine | Numeric | 1 | When set to 1, stores the conditional value allowing the appropriate trendline (the neckline) to be drawn on the chart; 0 to not display. |
| Color1 | Numeric | Yellow | The color used for the first Head & Shoulders text as well as the color used for the neckline. |
| Color2 | Numeric | Cyan | The color used for the second Head & Shoulders text as well as the color used for the neckline. |
| TextLabelFontSize | Numeric | 8.0 | Font size for the text labels. |
Head and Shoulders marks the formation of a Head & Shoulders pattern. If specified, a horizontal line will indicate the neckline of the pattern, while text objects will indicate the head and shoulders. If the neckline of the Head and Shoulder pattern is considered a resistance line, the bar marked indicates a possible breakout.
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