Megaphone Patterns Indicator

I would like to request the addition of a Megaphone Pattern (Broadening Formation) indicator to the platform’s charting tools.

Overview:
The Megaphone Pattern is a technical formation characterized by expanding price swings, where the market forms a sequence of higher highs and lower lows. This results in two diverging trendlines, creating a broadening structure that reflects increasing volatility and market indecision.

Core Functionality Requirements:

• Automatically detect and highlight Megaphone patterns on price charts

• Identify and validate at least:

  • Two consecutive higher highs

  • Two consecutive lower lows

• Draw:

  • An upper resistance trendline connecting highs

  • A lower support trendline connecting lows

• Ensure the trendlines are diverging (broadening formation)

Customization Options:

• Pivot/swing sensitivity (to control how highs and lows are detected)

• Minimum number of required touchpoints (e.g., 4–6 pivots)

• Time range or lookback period

• Option to enable/disable real-time pattern detection

Optional Enhancements:

• Volume-based confirmation (e.g., increasing volume during expansion)

• Breakout alerts when price exits the pattern

• Visual highlighting (shaded region within the pattern)

• Multi-timeframe detection support

Use Case:
This indicator would help traders identify periods of increasing volatility and potential breakout scenarios, improving both discretionary and systematic trading strategies.

Thank you for considering this feature.