double bottom scan

I’m thinking a good one would be the following: A bottom or top can be two prices that less than 0.5% of each other (customizable for low/high volatility stocks), so 1.77 and 1.78 would be considered a double bottom. Candles between permitted should be customizable as an input value well because it depends on the time frame. On a daily chart, two candles right after each other at 1.45 is a very profitable play, so you can set a stop loss at 1.44. I would say instead of the amount of candles between, it should be the time between the candles, like 30 minutes minimum to make a double bottom (or maybe instead of time, 30 1 min candlesticks minimum), because anything less than that usually is more volatility than an actual double bottom/top. I don’t understand what you mean by one top/bottom higher/lower than the other. I think the top/bottom should be within 0.5% by default. When it comes to identifying noteworthy double bottoms, you can set a minimum price peak like 2%. For example, if price hits a bottom of 2, then shoots up at least 2% to 2.04 or more (2% of 2 is 2.04), and then bottoms again at like 1.99, then that is a double bottom. However, it if hits bottom of 2, only peaks up to like 2.02 (1% peak), and then goes back down to 2 or 1.99, then it is close to a consolidation than a double bottom. I think 2% peak minimum is a good default. I think I answered all your questions, so it would be great if you can help create this scan, but if I didn’t answer your questions. Please ask me. I’ve coded before so I know what to look for for questions, but I’m not too familiar with Thinkscript like setting a minimum time between candles for a filter like this, so it would be helpful from an expert.

At this time there are a wide variety of built-in patterns available in the scan engine on Thinkorswim. Among the list are "Double Bottom", "Double Top", "Triple Bottom" and "Triple Top". These patterns are also available at the charting level. Complete with user adjustable settings.

@Pete Hahn I only see one double bottom pattern in ToS, and it's not very customizable? There's no scan filter or study filter for it, just a pattern, and it doesn't let you look at the source code or customize any of the settings I mentioned in the first paragraph. Please see this screenshot: https://i.imgur.com/yDdwx4x.png

Well this is far too complex a solution for something I would publish in the Q&A forum. We'll just have to get by with the built-in tools that Thinkorswim provides for pattern filters.