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_SECTION_BEGIN("H&S");
/*for a Short description of Head & Shoulders Pattern you may see at
http://www.chartpattern.com/head_sholuders.html
http://www.chartpatterns.com/headandshoulderschartsstocks.htm
etc.
Paste the formula in Automatic Analysis AND Explore for n last quotations,
n=1.
Paste the same formula in Indicator Builder AND select scaling Automatic.
H&S points AND respective neckline is painted yellow, inverted H&S is light
blue.
H&S is considered as a bearish formation, confirmed after the neckline
breakout.
Inverted H&S is considered as a bullish formation, confirmed after the neckline
breakout.
Sensitivity is calibrated at the per=5 line. Increasing per makes the formula
less sensitive.
The last shoulder should be less than back=50 days ago AND the distance between
shoulders should be less than inter=100 days. 
 
Formula:*/
x = Cum(1);
per = 15;
back=50;
inter=100;
s11=H;s12=L;
 
// Volume filter
VFilter = Param( "Volume MA filter", 1000, 50000, 500000, 100000 );
Timeframe = Interval(2);
//Plot(MA(C,3),"MAC",colorYellow);
// Adjust for weekly if necessary
if( Timeframe == "5-day" || Timeframe == "Weekly" ) {
  VFilter  = VFilter * 5;
}
Pfilter = 1;
Vok = MA(V,10)>Vfilter;
Pok = MA(C,10)>pfilter;
 
/* H & S */
pR = PeakBars( s11, per, 1 ) == 0;
endt1= LastValue(ValueWhen( pR, x, 1 ));
medt1=LastValue(ValueWhen( pR, x, 2 ));
startt1=LastValue(ValueWhen( pR, x, 3 ));
dt1=endt1-startt1;
C1=x==endt1 OR x==medt1 OR x==startt1;
endR = LastValue(ValueWhen( pR, s11, 1 ) );
medR=LastValue(ValueWhen( pR, s11, 2 ) );
startR = LastValue( ValueWhen( pR, s11, 3  ));
Filter1=medR>endR AND medR>startR AND abs(startR-endR)<0.02*(startR+endR) AND
dt1<inter AND endt1>LastValue(x)-back AND V[endt1]<V[medt1] AND
V[endt1]<V[startt1];
MaxGraph=10;Graph1=C;Graph1Style=64|styleNoTitle;GraphXSpace=5;
/*H&S Neck Line*/
Aper=medt1-startt1;bper=endt1-medt1;
La=  LastValue(ValueWhen(x==medt1,LLV(L,Aper)));
Lb=LastValue(ValueWhen(x==-1+endt1,LLV(L,bper)));
Fa=L==La AND x>startt1 AND x<medt1;
Fb=L==Lb AND x>medt1 AND x<endt1;
endt= LastValue(ValueWhen( Fb, x ));
startt=LastValue(ValueWhen( Fa, x ));
dtS =endt-startt;endS = Lb;startS = La;
aS = (endS-startS)/dtS;bS = endS;
trendlineS = aS * ( x  -endt ) + bS; 
Graph3 = IIf(Filter1 AND
x>startt-5,trendlineS,-1e10);Graph3BarColor=7;Graph3Name = "Bearish H&S";
/*Inverted H & S*/
tpR = TroughBars( s12, per, 1 ) == 0;
tendt1=LastValue(ValueWhen(tpr,x,1));
tmedt1=LastValue(ValueWhen(tpr,x,2));
tstartt1=LastValue(ValueWhen(tpr,x,3));
tdt1=tendt1-tstartt1;
C2=x==tendt1 OR x==tmedt1 OR x==tstartt1;
tendR = LastValue(ValueWhen( tpR, s12, 1 ) );
tmedR=LastValue(ValueWhen( tpR, s12, 2 ) );
tstartR = LastValue( ValueWhen( tpR, s12, 3  ));
Filter2=tmedR<tendR AND tmedR<tstartR AND
abs(tstartR-tendR)<0.02*(tstartR+tendR) AND tdt1<inter AND
tendt1>LastValue(x)-back AND V[endt1]<V[medt1] AND V[endt1]<V[startt1];
Graph1BarColor=IIf(C1 AND Filter1,7,IIf(C2 AND Filter2,10,1));
/*Inverted H&S Neck Line*/
tAper=tmedt1-tstartt1;tbper=tendt1-tmedt1;
Ha=  LastValue(ValueWhen(x==tmedt1,HHV(H,tAper)));
Hb=LastValue(ValueWhen(x==-1+tendt1,HHV(H,tbper)));
tFa=H==Ha AND x>tstartt1 AND x<tmedt1;
tFb=H==Hb AND x>tmedt1 AND x<tendt1;
Rendt= LastValue(ValueWhen(tFb, x ));
Rstartt=LastValue(ValueWhen( tFa, x ));
Rdt =Rendt-Rstartt;endR = Hb;startR = Ha;
aR = (endR-startR)/Rdt;bR = endR;
trendlineR = aR * ( x  -Rendt ) + bR; 
Graph4 = IIf(Filter2 AND
x>Rstartt-5,trendlineR,-1e10);Graph4BarColor=10;Graph4Name = "Bullish H&S";
 
Bear = pok AND vok AND Filter1 AND Cross(TrendlineS, C) ;
Bull = pok AND vok AND Filter2 AND Cross(C, TrendlineR);
PlotShapes(Bull*shapeHollowUpArrow,colorBlue, 0, Low, Offset = -12);
PlotShapes(Bear*shapeHollowDownArrow,colorRed, 0, High, Offset = -12);
 
Filter = Bull OR Bear;
NumColumns=2;
Column0=Filter1;
Column1=Filter2;
Column0Format=Column1Format=1.0;
Column0Name="H&S";
Column1Name="inv H&S";
_SECTION_END();

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