Triple bottom pattern: three tests, then confirmation

Define the three tests before drawing the pattern

Label the lows L1, L2 and L3 in time order, with H1 between L1 and L2 and H2 between L2 and L3. A custom detector needs rules for selecting those swings. The following specification is illustrative; its thresholds are not TradingView defaults or measured optimal settings.

• A fixed 0.5-unit tolerance changes meaning across instruments. A percentage or volatility-scaled tolerance is a different model and needs its own denominator and tests.
• For a repeatable first version, evaluate the latest three qualifying lows. Do not skip a failed middle low simply because an older combination looks better.
• A 5% decline filter does not prove an established downtrend. It makes this example context rule measurable; another definition changes which candidates qualify.

Work through one candidate without moving its neckline

Assume these hypothetical prices pass the prior-decline filter and the pivot checks above. Lows occur at bar 10 = 100.0, bar 22 = 100.3 and bar 34 = 99.9. The intervening highs are 106.0 at bar 16 and 105.0 at bar 28. The low spread is 0.4, both intervals are 12 bars, and the saved neckline N is 106.0.

• The breakout condition is previous close at or below N and current completed close above N. Allow the confirmation bar itself if that condition passes.
• If the crossing happened before L3 became available, do not assign a signal to that earlier bar. This example requires a fresh crossing after eligibility.
• After creating the candidate, retain its prices and bars. A later high cannot quietly change N from 106 to a more convenient level.

A failed third test can invalidate the shape

Change only the third low in the hypothetical example from 99.9 to 98.8. The spread is now 100.3 minus 98.8, or 1.5 units. That exceeds the 0.5-unit tolerance, so the detector rejects the three-low candidate even if price subsequently rebounds. A later rally does not retroactively make the rejected structure valid.

• TradingView documents a Failed status when price goes below the last bottom before reaching its target. The custom close-based failure rule above is a separate choice.
• A wick through support followed by recovery can fit another hypothesis. Calling it a sweep does not exempt it from a detector rule that rejects a low below support.
• Any trading version also needs order timing, exits, position sizing and costs. A pattern event alone is not a complete strategy.

Compare a triple bottom with a double bottom and a range

The number of tests describes the geometry; it does not establish a ranking of signal quality. A range can contain three support touches without producing an upward breakout. Use the same swing and tolerance definitions when comparing candidates.

Record detection time separately from the low

TradingView documents 5/5 pivots in its built-in triple-bottom indicator; In Progress mode can show an unconfirmed third bottom. Its repainting documentation also explains why a pivot drawn on an old candle can become visible only after later candles confirm it. A historical drawing therefore does not prove that an alert was available at that low.

• In the custom three-right-bar example, the low at 34 becomes usable at the close of 37. Store both timestamps, then store the breakout at 39 separately.
• Review the same symbol, timeframe and rules one completed bar at a time. Preserve rejected candidates and failed signals instead of displaying only surviving patterns.
• Before using generated code, inspect the pivot selection, tie handling, invalidation order and event timestamps. Syntax success cannot verify those choices.
• Keep unconfirmed previews visually distinct from confirmed events. Waiting for a chart close addresses intrabar changes, but does not remove every source of repainting.