๐Ÿ” A Simple Visual Tool for Spotting Spikes, Second Legs โ€” and Now, Counter-Trend Reversals!

Iโ€™ve been building a set of visual tools to help day traders read price action faster, cleaner, and with less noise.

One of the more useful tools in the kit has been the 3 Consecutive Same-Colour Bars script โ€” what I call the 3CSC.

Link here: https://www.tradingview.com/script/9YdxpJ7C-Zen-3CSC-bars-V1/

https://www.tradingview.com/script/9YdxpJ7C-Zen-3CSC-bars-V1/

Itโ€™s simple: it highlights when you get 3 (or more) consecutive bull or bear bars. Thatโ€™s often a sign of strong momentum โ€” useful for spotting:

  • โšก Opening spikes
  • ๐Ÿ” Second legs
  • ๐Ÿ“ˆ Persistent pressure that leads to breakouts

๐Ÿ”„ New: Counter-Trend Filter

In this latest update, Iโ€™ve added an optional setting to help you study reversal setups.

โœ… When enabled, the script will only highlight 3-bar sequences that move against the EMA20 trend:

  • ๐ŸŸฉ Bullish sequences that form below the EMA
  • ๐ŸŸฅ Bearish sequences that form above the EMA

This helps isolate:

  • Potential exhaustion moves
  • Failed breakout attempts
  • The early stages of a counter-trend reversal

The EMA is fully transparent by default โ€” so it doesnโ€™t clutter your chart, but it still works behind the scenes to shape context.


โš™๏ธ Extra Options

For deeper analysis, youโ€™ve also got optional filters:

  • โœ… Require each bar to close beyond the high/low of the previous bar (adds confirmation strength)
  • โœ… Highlight price gaps for identifying urgency or vacuum moves

All settings are toggleable, so you can tailor the view to your own style and focus.


๐Ÿง  Why This Matters

This is not a signal tool.

Itโ€™s a study tool.

Use it to:

  • ๐Ÿงช Research spike behavior at different times of day
  • ๐Ÿ”ฌ Track which counter-trend moves get follow-through
  • ๐Ÿ“ธ Build a screenshot archive of patterns you’re learning
  • ๐Ÿ““ Refine your playbook by seeing clean, repeatable pressure structures

The goal isnโ€™t to tell you what to do โ€” itโ€™s to show you whatโ€™s happening.

Less noise. More insight.


๐Ÿ“Œ Link to script: https://www.tradingview.com/script/9YdxpJ7C-Zen-3CSC-bars-V1/
Tim F


Leave a comment

I’m Tim

Welcome to Zen Trading Tech.

I’m a Aussie day trader and I post trading tips, practice drills, and indicators that helped my trading get to a professional level.

Everything here is to help train the eyes and hands to trade better. If it helped me I’ll post it for others. Hope you enjoy!