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Intraday BUY/SELL & AUTO SL (5-min timeframe only) by chaitu50c)

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Intraday BUY/SELL & AUTO SL (5-min timeframe only) by chaitu50c

This indicator provides intraday traders with BUY/SELL reversal signals and automated SL (Stoploss) tracking, based on a 3-candle reversal block logic — designed to work exclusively on the 5-min timeframe.

Key Features:
• 3-Candle Reversal Logic — Signals are generated when a defined 3-candle reversal pattern is detected (body-close breakout).
• Current Session Only — All signals and SL lines are valid only for the current session and automatically reset at session start.
• BUY/SELL Signal Labels — Visual ▲ and ▼ labels mark valid reversal signals on the chart.
• Dynamic Auto SL Lines — Plots dashed SL lines based on the reversal block's low/high.
• SL HIT Tracking — If SL is broken, the line stops extending and a ‘SL HIT’ label is displayed at the midpoint of the SL line.
• Adjustable Visual Settings — Customize signal label size, SL line width, colors, and more.
• Clean & Lightweight — Optimized for intraday use without cluttering the chart.

How to Use:
You can trade this indicator in two ways:

1. Direct Signal Entry — Take a BUY or SELL trade when a valid ▲/▼ reversal signal forms.
2. SL HIT Re-entry — If an existing SL line is broken and ‘SL HIT’ appears, you can optionally take an opposite side trade in the direction of the SL HIT.

Example:
A BUY signal is generated and an SL line is plotted below.
If price breaks the SL (SL HIT appears), you may consider entering a SELL trade at that point — as it indicates weakness.

Important Notes:
• Works only on 5-min timeframe — Set your chart to 5-min for correct behavior.
• Designed for intraday trading — all signals and SL levels reset at session start.
• Does not carry signals between sessions.
• SL lines and HIT labels provide a clear and simple visual aid for trade management.



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Notas de Lançamento
This update improves clarity and control of reversal signals for 1-min and 5-min intraday traders:
This intraday reversal tool works best on 1-minute and 5-minute charts. It detects 3-candle reversal patterns and plots a BUY or SELL signal once the breakout happens.
Once a signal is triggered, the same type will not repeat until its stoploss is hit.
If another condition forms while the signal is still active, a "+1" label is shown instead of a new arrow.
Automatic stoploss lines and SL HIT alerts are included.

Notas de Lançamento
🆕 Changes Made Today:
Buy/Sell Alerts Added

You can now set alerts to get notified whenever a new buy or sell signal appears on the chart.

SL HIT Label Position Updated

The "SL HIT" label is now shown on the left side to avoid overlapping with candles and keep the chart clean.

Notas de Lançamento
Update Summary for "Intraday BUY/SELL & AUTO SL by chaitu50c"

This update introduces several powerful enhancements to improve signal accuracy, SL reliability, and market context awareness:

Engulfing Candle Logic Added

New BUY/SELL signals based on bullish and bearish engulfing patterns are now included alongside existing reversal logic.

SL Line Refinement

SL lines now begin precisely from the bar where the stoploss level was originally formed, rather than from where it was revealed.

Pinbar (Hammer/Inverted Hammer) Detection Integrated

Pinbar-based pressure zones are now detected using wick/body deviation and standard deviation filtering.

These pressure zones are used to draw dynamic support and resistance levels.

Dynamic Support & Resistance Management

Support and resistance lines formed by pinbars are automatically limited to the most recent 3 each.

Older levels are hidden and automatically revealed when market price validates them again.

This keeps the chart clean and focused on relevant zones.

These improvements maintain backward compatibility with the existing logic while adding greater context, precision, and reliability to the signals and stoploss system.

Aviso legal

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