McDonald's Pattern
February 3, 2022
TradingView asked, we delivered. This script fits a cubic Bezier curve using tops/bottoms in order to approximate a McDonald's pattern, a popular meme pattern in the crypto trading community.
TradingView asked, we delivered. This script fits a cubic Bezier curve using tops/bottoms in order to approximate a McDonald's pattern, a popular meme pattern in the crypto trading community.
Traditionally the McDonald's pattern is described by an M pattern with deep retracement (> 50%), forming a McDonald's logo.
Settings
Length: Sensitivity of tops/bottoms detection. The method does not make use of pivot points , using rolling maximums/minimums instead.
Use First Bar As Vertex: Use the price and bar index of the last bar as vertex .
Usage
The script fits Bezier curves using specific tops/bottoms as control points. When the distance between tops and bottoms values is relatively small, the user can more easily identify the pattern.
A score is shown on the top right of the chart, aiming to return how close the returned pattern is to the original logo.
A regular Mcdonald's pattern would return a red background, while an inverted pattern would return a green one.
