Asc triangle
A flat top over a rising floor across the last 100 closes, a coil traders often read as bullish.
The indicator draws two lines from the highest and lowest closing prices of the last 100 one-minute bars, about 1 hour 40 minutes. It then checks how each line moved over the last 20 bars: the top must have moved by no more than the epsilon tolerance, up or down, and the floor must have risen by more than it. Both checks must pass on the same bar, and the top must sit above the floor, which is nearly always true.
How to read it
- Markers sit on the candles where the pattern holds, so read them against the price.
- A run of markers means the top has stopped moving while the floor keeps climbing, so price is coiling under a ceiling.
- A marker is not a breakout. Traders usually act on a break above the flat top, and this indicator does not check for one.
What it outputs
- Ascending triangle
- Marks each bar where the 100-bar top is flat and the 100-bar floor is rising over the last 20 bars.
When it fires
On each bar where both slope checks pass together. At defaults, on the SPY sample, it was true on about 8% of one-minute bars, and new runs started about 4.6 times a day.
Settings
- Epsilon
- The percent tolerance for both slope tests over 20 bars. Raising it lets the top drift further but needs a steeper rise in the floor. Lowering it requires a nearly flat top, while a small rise in the floor is enough.
Pitfalls
- Both lines use closing prices, not the bar highs and lows. A rising floor can just be an old low aging out of the 100-bar window, not a higher low printed.
- Eps is a percent over 20 bars and cuts both ways. The catalog's 'lower is stricter' holds for the flat top only; a lower eps makes the rising-floor test easier to pass.
- It tests shape only, with no breakout check, and at defaults it is common rather than rare.