PROTECTED SOURCE SCRIPT
High probability reversal detector
It is my pleasure to share this indicator with you. It serves me every day in my trading. This scrypt identifies candlesticks with a high probability of trend reversal.
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Bearish candlesticks turn dark red and bullish candlesticks turn dark green.
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The candlesticks of indecision turn white.
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In any case, it is crucial to understand how it got there. Is the trend starting to run out of steam (are they getting smaller on the way there)? Are we in a support/resistance zone, at a trend line or at an interesting Fibonacci retracement? Are we near the 50 or even 200 SMA (as everyone watch these levels). Always wait for a trend reversal confirmation candle. This candle must come fairly quickly (1 to 5 candles max) otherwise the reversal thesis no longer holds.I favor bullish reversals if we are above the 200 SMA and bearish ones if below the 200 SMA.
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I hope you enjoy this tool as much as I do. Feal free to drop a comment. Let's make some big money now!
Script protegido
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script protegido
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.