Custom Cancel Size Pattern

Objective:

This TradingView indicator identifies a specific 3-candle pattern based on candle size (measured using True Range) and highlights the third candle (or later) when the pattern is complete.


---

The 3-Candle Pattern Logic:

1. Candle 1 (two candles ago)

Its True Range (TR) must be greater than the current Average True Range (ATR).

This means it's a relatively large candle — we're looking for strong movement here.



2. Candle 2 (one candle ago)

Its TR must be less than the ATR.

This suggests a "cooling off" or a smaller move.



3. Candle 3 (the current candle)

Its TR must be at least 2 times bigger than Candle 2's TR.

This means a breakout or strong move again, following the smaller candle.





---

What the Indicator Does:

Detects this 3-candle pattern as new candles form.

Highlights the third candle (the current one) with a green color and a label beneath it that says "Pattern".

Optionally colors the bar green (you can customize this if you want a different visual style).



---

What You’ll See on the Chart:

When the conditions are met:

A green bar (if bar coloring is enabled).

A label below the bar that says “Pattern” appears under the third candle.