Home / Indicators / InRegi Butterfly
01
No manual measuring
B retracement, C depth and three PRZ measurements are checked automatically on every candle close.
02
See it before it completes
Live preview shows the potential B and C zones and the PRZ (D) while the pattern is forming.
03
One alert, then walk away
A "price touched PRZ" alert fires in real time, once per pattern.
How it works
| Swing points | Detected on closed candles and confirmed after a short delay, so points never appear in hindsight. |
| X–A measurement | Two options: classic (swing low/high to swing high/low) and Strong Momentum X–A — X at the start of a smooth, impulsive move. Both can produce a valid pattern — see Concepts. |
| Point B | 0.703–0.835 of XA (precise 0.786). B is measured from the wick; the wick must stay inside the zone. |
| Point C | At least the AB leg 38.2% retracement (C min); levels 0.5 · 0.618 · 0.707 · 0.786 · 0.886 |
| PRZ (point D) | 1.272 XA + BC extension + AB=CD 1.272 (optionally from two measurements). |
| Stop level | 1.414 XA (option 1.5) |
| Invalidation | Price touches 1.618 XA (a close beyond the 1.414 stop does not end the pattern) |
| Targets | 38.2% and 61.8% AD, measured from the actual D |
The Butterfly is an extension pattern: D completes beyond X. A strict B zone filters out structures that only look similar, and the PRZ needs three measurements to agree.
The stop level does not end the pattern — the invalidation level does. That gives you a clear distinction between "my stop was hit" and "this pattern is no longer valid".
Colours: Bullish #36F0D1 · Bearish #F11FA6 · PRZ gold · Stop Zone red
How to use
READY→IN PLAY→COMPLETEDorINVALIDATED
| Forming (live preview) | Potential B and C zones and the PRZ (D) shown before the pattern is confirmed. |
| READY | X–A–B–C is valid and the PRZ is projected. Wait for price. |
| IN PLAY | Price has touched the PRZ. D follows the furthest price inside the zone. |
| Completed | After the PRZ, price reached at least the 38.2% AD correction (PRZ respected). |
| Invalidated | A rule was broken (invalidation level touched, C beyond A…). Hidden by default — turn on "Show invalidated patterns" to see them with the reason. |
| Panel | PRZ, entry, SL, risk %, R:R. Optional Position projection (R:R), B→C and C→D projections. |
| Alert | Set frequency to "Once per bar". After an indicator update, delete and recreate the alert. |
Repainting & limitations
All pattern logic runs on closed candles only — no future data, no lookahead, no higher-timeframe requests. Below is every case where the drawing can still change, so nothing surprises you.
Can change after a candle closes
- Before C reaches C min, a deeper extreme in the B zone moves B.
- In READY, a close beyond C (before the PRZ) moves C and redraws the PRZ.
- In IN PLAY, D and the AD levels follow price deeper into the PRZ.
- Invalidated patterns are hidden by default.
- Old drawings are removed by "Number of recent patterns kept" (5) and TradingView limits.
Fixed
- X and A — once the swing is confirmed.
- B — once C min is reached.
- C — once the pattern is IN PLAY.
- Everything — after Completed / Invalidated.
Limits
- Any market and timeframe with OHLC data.
- Historical tests of the pattern as a mechanical strategy showed no statistical edge after costs. Use the zones for analysis, not as a standalone signal.
Settings
| Display | Completed ✓ · Invalidated ✗ · Live preview ✓ · Patterns kept: 5 |
| C levels | 0.382 · 0.5 · 0.618 · 0.707 · 0.786 · 0.886 ✓ — 0.414 / 0.941 optional |
| PRZ | PRZ from 2 measurements (off by default = 3 measurements) |
| AD levels | Main: 0.236 · 0.382 ✓ · 0.5 · 0.618 ✓ — Additional: 0.146 · 0.191 · 0.314 · 0.414 · 0.707 · 0.786 · 0.886 (optional) |
| Projections | Position projection (R:R) · B→C · C→D — off by default |