lordpepe

LordPepe Hard Reversal

What's Crackin?

New Features:
  • - New Settings Menu/Layout (better labeled)
  • - Binary Signals - produces long/short/long/short etc signals (stop-loss not ready yet)
  • - Stochastic Signals (higher time frames, 1 - 4HR - produces a signal on LL (lowest low) crossover of stochastic (k, d) over 1000 and 500 bars ago, and does so with HH (highest high)
  • - VWAP Moving Averages (experimental) - See if you can get anything out of it. Basically strong uptrends form when the price is over certain colored moving averages. They are controlled by VWAP's slope smoothed with moving averages of different periods.

How to use:
  • - Settings that are chosen are a lookback period of 10 bars and 10 signals of exhaustion, where exhaustion is set to count when close is > close for bull bars ago and close < close for bear. This means a reversal can be around the corner. If the market uses it as
  • resistance, take trades at or near it and also for support. If the price breaks through, close your trade and wait.
  • - Use higher timeframes or experiment with "HH/LL over what Period?" parameters
  • - If you have binary set to true and price breaks s/r get out, I'll add a stop-loss feature soon, to alert you automatically
  • - Don't use too many indicators at once, there's a lot and I'll add more as time goes on

How does it work?:


There are two different types of signals this script can produce.


#1: close > close OR close < close
bull count = 0
bear count = 0
If the close of this bar is greater than ( bearish ), or less than ( bullish ), a certain number of bars back our settings are 4 bars back (you can change this), start adding +1 to the correlating signal.
e.i.
So, if we get a close higher than the close 4 bars ago add 1 to the "BEAR" variable, and do this until we reach a magic number, 10 (this can be changed).

Now we want to produce a signal when the "BEAR" variable is 10 AND the HIGH of this bar is higher than the highest high over 10 bars ago (this can be changed). <--- Important because it's like a swing length, you can keep high ( 40 , or mess around with it) for longer signals or shorter (10, etc) for faster signals.


#2: Works best on 1-6hr time frames
lowestLow1k = lowest(k, 1000) <-- Lowest "K" variable over 1000 bars
crossover(k, d) and d < lowestLow1k + 10 <----- This is + 10 for bullish and - 10 for bearish

When the momentum of the stochastic variable k's moving average is crossing k, and it's under the lowest low over 1000 bars back + or - 10 ( stochastic scale is 0-100), produce a signal.

You can see this signal is produced if you add a stochastic indicator with parameters (8, 3, 3) to your chart as well as this indicator.


Good luck and happy trading. Nothing in this is financial advice, please use this indicator at your own risk. If you do well with this indicator know it was ultimately up to you to press the button to buy, I take no credit.



















Notas de Lançamento:
  • The settings that come with this indicator are tuned for 4hr BITCOIN candles, please adjust the "SWING LENGTH", if you go to lower time frames, higher.
Notas de Lançamento:
  • Added bar colors and changed characters
  • T - take profit, B - bottom
  • Yellow bars - Highest volume over x (25) bars. You can change this
Notas de Lançamento: Chart update
Notas de Lançamento:
  • Changes the VWAP moving averages to exponential moving averages
  • Added colored bars to indicate bullish and bearish price
Notas de Lançamento: New Feature:
  • Bar colors to indicate trends (can be turned off in settings)
Notas de Lançamento:
  • Minor settings menu changes to make it more readable

The settings in the picture are (100, 10, 4) on 1m chart
If you have good time frame settings comment them below for others to use!
Notas de Lançamento: Automatic Settings "Choose Settings For Me" is now functional.
  • Settings will now automatically update based on the timeframes you are currently on. They have settings for timeframes (1, 5, 15, 30, 60, 120, 180, 240, D, W, M)
  • This option is enabled by default and when disabled the default setting is a swing length of 10 and candle exhaustion settings at 10.
  • Now there should be fewer signals. MAKE SURE TO CONFIRM TRENDS ON HIGHER TIME FRAMES PLEASE!
Notas de Lançamento: Number of Signals Feature Finished
  • Finiashed "# of Signals" function. Now you can switch through 4 preset settings for all timeframes "Moderate", "Fast", "Yeet", and "Custom".
  • This will change the swing length for each signal for different types of traders.
  • I'll be working on the binary signals feature more.
Notas de Lançamento: Minor bug fix
Notas de Lançamento: Minor Bugs
  • Removed the "Choose Settings for Me" because it does that by default and custom settings are under "# of Signals"
  • Use the "Custom" if you want to change the settings for how many bars to check and over what swing length. This is easier to understand if you look at the source code for the signals. I have commented on what they do. :)
Script de código aberto

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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