Reversal Patterns Collection:Invertad Hammer and Shooting StarScript contains Inverted Hammer and Shooting Star models. User can select period for candle size calculation (for distinguish short and long candles), on/off highlighting of pattern candles.
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Reversal Patterns Collection:HaramiScript contains pattern Harami. User can select period for candle size calculation (for distinguish short and long candles), on/off highlighting of pattern candles.
Reversal Candlestick Pattern With Trend IndentifierThis script help to identified popular candlestick pattern combined with trend identifier.
Most script only focus on criteria of the pattern. Such as how much the length of the body compared to previous candle etc.
Besides criteria of the candle, this script also considered the trend into the logic.
For example bullish engulfing is a bullish reversal signal, which is only valid in a down trend.
To identified trend, I'm using RSI. Normally, RSI less than 50 is considered a down trend, and RSI greater than 50 is considered up trend. In this script, you can customize the criteria of how much RSI is up trend and down trend.
Default value RSI >= 55 is up trend, RSI <= 45 is down trend.
Your feedback and suggestion is welcome.
Supported pattern:
White Marubozu (wm)
Black Marubozu (bm)
Hammer (h)
Hanging Man (hm)
Inverted Hammer (ih)
Shooting Star (ss)
Bullish Engulfing (e)
Bearish Engulfing (e)
Tweezer Bottom (tb)
Tweezer Top (tt)
Three White Soldiers (tws)
Three Black Crows (tbc)
Morning Star (ms)
Evening Star (es)
Three Inside Up (tiu)
Three Inside Down (tid)
Reference:
babypips.com
Reversal Knockout v1.1\ Reversal Knockout v1.1 — User Manual \
Reversal Knockout is a technical indicator designed to detect potential price turning points using a dual approach: a reversal logic with bar coloring and a combined sequence of setups, countdowns, and exhaustion patterns.
\ What does this indicator do?\
\ Colors candles\ based on the relationship between two smoothed moving averages (T3).
\ Identifies overextension conditions\ based on a sequence of 9 consecutive closes aligned with price direction.
\ Confirms exhaustion\ if, after that setup, 13 follow-through conditions (countdown) are met.
\ Highlights special signals called “Knockouts”\ , which represent strong potential reversal scenarios.
\ Candle Coloring\
Candles are automatically colored to make trend and potential reversal points visually easier to interpret:
🔵 Bull Trend: User-defined color (default light blue)
🔴 Bear Trend: User-defined color (default light red)
🟡 Bullish Reversal: When price crosses below the slower average (default yellow)
🟡 Bearish Reversal: When price crosses above the slower average (default yellow)
This logic is based on the relationship between two T3 moving averages (one fast, one slow), calculated with a customizable smoothing factor.
\ Setup and Countdown Logic\
Setups (9):
A bullish setup forms if the price closes below the close from 4 bars earlier for 9 consecutive candles.
A bearish setup forms if the price closes above the close from 4 bars earlier for 9 consecutive candles.
When the ninth close is completed, a green “9” (buy) or purple “9” (sell) is displayed.
Countdowns (13):
After a setup, a follow-through phase begins.
If 13 additional conditions are met (price < low\ for buys or > high\ for sells), a purple “13” is shown, signaling potential exhaustion.
\ Knockout: Explosive Reversal Potential\
The indicator also identifies special reversal patterns called \ Knockout\ .
These signals appear when, in addition to a “9”, the price shows technical excess behavior near key support or resistance zones:
Knockout ▲ (buy): Appears below the candle when a buy signal is detected with specific downside pressure conditions.
Knockout ▼ (sell): Appears above the candle when a sell signal is detected with upside pressure conditions.
These signals stand out as high-probability reversal opportunities.
\ Usage Recommendations\
The indicator is designed to work on any timeframe, but it is recommended to use it alongside market structure and volume analysis.
“Knockout” signals may be used as high-probability trend change alerts, especially after a “13”.
Can be combined with momentum indicators and moving averages for greater effectiveness.
REVERSAL INDICATOR - TE REVVINDTHE REVVIND TOOL helps you IDENTIFY & TRADE REVERSALS in the live market.
This indicator uses a completely different strategy than TE RECAT to highlight the reversals.
Rules are similar to that of RECAT TOOL with the only difference that in REVVIND, the candles formed adjacent to the DAY/LOW candles can/must be considered as well.
HOW TO USE:
AFTER YOU APPLY THE SCRIPT.
1. WAIT FOR THE FORMATION BLUE/YELLOW COLOURED BARS NEAR DAY HIGH/LOW.
Accuracy is highest when the REVERSALS are caught near DAY HIGH/LOW. I would suggest you to work only on near-DAY HIGH/LOW candles.
Do not jump into the trade. Wait for the candle to close.
2. BLUE represents the start of a BEARISH TREND or simply "SELL SIGNAL".
YELLOW represents the beginning of a BULLISH TREND or simply "BUY SIGNAL".
3. If the BLUE candle is formed at/near DAY HIGH.
SELL below it's LOW with DAY HIGH as Stoploss. (Keep some BUFFER).
If the YELLOW candle is formed at/near DAY LOW.
BUY above it's HIGH with DAY LOW as Stoploss. (Keep some BUFFER).
4. TARGET
Risk : Reward = 1:1
Trail Stoploss for 1:2, 1:2.5, 1:3
FOR ACCESS - SEND ME A PRIVATE MESSAGE (DETAILS IN SIGNATURE)
AS PER TRADINGVIEW POLICY PLEASE DON'T ASK FOR ACCESS IN THE COMMENT SECTION.
Reversal Zones [UAlgo]🔶Description:
"Reversal Zones " aims to identify potential reversal zones in price movements. The indicator provides visual signals on the chart, indicating potential overbought and oversold conditions based on the calculated values. It offers traders insights into possible turning points in the market, aiding in decision-making processes regarding entry and exit points.
🔶Key Features:
Bollinger Bands Percentile (BB Percentile):
Bollinger Bands Percentile is utilized in this script to gauge the current price position relative to its recent volatility. By calculating the percentile rank of the current price within the Bollinger Bands, traders can identify extreme price levels. This assists in recognizing potential overbought or oversold conditions, where price may be due for a reversal.
Choppiness Index (CI):
The Choppiness Index is employed here to measure the market's trendiness or choppiness. By evaluating the efficiency of the price movement, CI helps traders determine whether the market is trending or consolidating.
Commodity Channel Index (CCI):
The Commodity Channel Index is integrated into this script to capture price momentum. CCI quantifies the relationship between the current price, a moving average, and standard deviation. Traders use CCI to identify overbought or oversold conditions and potential trend reversals.
By averaging and smoothing these values, traders can obtain a clearer picture of potential turning points in the market. The final smoothed combination signal aims to reduce noise and provide more reliable insights.
🔶Disclaimer:
Please note that this script is provided for informational and educational purposes only and should not be considered as financial advice.
Trading in financial markets involves risk, and past performance is not necessarily indicative of future results.
Users should conduct their own research and analysis or consult with a qualified financial advisor before making any investment decisions based on this indicator.
The creators of this script are not liable for any losses incurred from trading activities.
Reversal Money Flow Indicator (RMFI)
This indicator is for tracking trend following of altcoins movement based on asset movement (RMFI, Reversal of Money Flow Indicator)
RMFI is specialized for the cryptocurrency market and can detect asset movement when altcoins, which previously showed similar price momentum as Bitcoin, begin to move independently
I have made many efforts to predict the independent volatility of altcoins that do not follow the price momentum of Bitcoin by modifying trading strategies and searching for patterns, but have faced many inefficiencies and disappointments. The time I spent constantly trying to simplify elements to consider between indicators according to the market conditions led me to create something truly innovative t I believe.
As the Market Cap of cryptocurrency has recently increased, liquidity has also increased, allowing for the classification of more patterns. Instead of considering many complex indicators, I focused on a single indicator to obtain clearer signals and were able to increase the reliability of patterns.
RMFI is not accurate in finding the reversal of independent momentum of all 8,000 altcoins (as of 2021), it is ideal for assets with slightly higher liquidity.
Education on all indicator functions will be provided through separate videos in my Telegram community space (refer to Instructions), and I would like to regularly research with users to provide better trading discoveries.
Introduction: It is very easy to read. The basic setting shows a divided view of positive and negative values, which is useful for finding independent trend reversals of altcoins. There are colors that need to be continuously watched, colors that indicate high possibility of trend reversal, and colors that indicate the start of trend reversal.
'Orange : indicates a monitoring signal
Sky blue : indicates an attempt of trend reversal after sufficient pressure
Green : Approaching independent trend reversal
Yellow : indicates a sudden trend reversal
Pink : overheating
Red : Weakness starts
I will explain the functions of RMFI indicator through below following chart.
'Orange candlesticks indicate a signal that assets are starting to move to the specific altcoin, while the blue candlesticks indicate that the asset movement has progressed enough to try for an independent trend reversal (It is not always the case that blue candles will be followed by 'orange candles in a specific order)
The green candles indicate that altcoin is nearing independent trend reversal, which is a BUY signal. The yellow candles indicate that, even though sufficient asset movement has not been confirmed, it is a signal for following the trend as the trend reversal has begun.
The green and yellow candles' signals must be evaluated by user. The first evaluation is to check that movement is sufficient by looking at the minus area's columns and blue columns. Additional details will be provided through a separate video in my Telegram community space (refer to Instructions)
*Buy signal evaluation (Sky blue) : Columns indicating trend reversal, which should be blue, is 'orange, indicating that assets are still in transit
*Buy signal evaluation (Green candle) : Blue column and green candle
*Buy signal evaluation (Yellow candle) : 'Orange column, indicating assets in transit and accumulation, is not visible, but minus area columns (blue) are confirmed and Columns cross into the plus area, indicating the start of a strong uptrend
Signals generated in the sequence of 'orange, blue, green, yellow are not always in order and can occur in the form of two signals or a single signal. I will explain further by looking at other example charts.
It is not the case that the candles' signals send a buy signal in all cases. However, by monitoring columns, user can identify when the trend is reversing and make good trades.
As previously explained, it is important for the user to pay attention to the changes in columns (ongoing : 'Orange columns / near completion of asset movement : Blue columns) when evaluating signals after a buy signal. Below is an example chart and detailed information on signal interpretation is provided in a separate video.
Pink candles indicate that assets that were previously inflow through altcoins are now being leaked. Signal of pink color implies that the upward trend may gradually decrease and price adjustments could occur. Red candles, on the other hand, indicate the start of a bearish momentum.
"Life dedicated to giving the best for the loved ones" Wishing luck to traders.
Expressing gratitude to all.
Reversal Finder by nnamWhat does this indicator do?
In short, this indicator looks for patterns using Relative Directional Strength and plots potential Reversal Areas on the chart. Candlesticks are shaded by a Gradient. This gradient is based on whether or not the market is currently experiencing a positive or negative sentiment.
In the screenshot below you can see that the market is experiencing positive sentiment, but also shows areas of possible resistance and reversal. The example shows the 1 minute timeframe which is very volatile and can show inconsistent results due to inherent volatility. It is recommended to trade the 15min timeframe or higher.
In the screenshot below we see the candle colors are varied with regards to shading. As moves become "stronger" in a particular direction, the candle colors actually switch from standard red/green to Pink and Yellow. This usually indicates an Oversold or Overbought condition.
In the example below, you can see that if an overbought condition no longer exists and the direction of the movement changes, a plotted arrow and line appear on the chart. This indicates a "potential" resistance or support area and "possibly" a reversal in price. (during strong trends, these are usually simple pullback areas and not reversals).
As seen in the screenshot below, an option to extend the lines is included (disabled by default in the settings). Turning this option ON allows the trader to better visualize potential resistance / support areas on the chart by extending the lines to the right.
Used in conjunction with other indicators, this indicator becomes a powerful confirmation tool for your arsenal.
Many settings are fully customizable including gradient color, bar color, line width etc.
I hope you enjoy the indicator and... HAPPY TRADING!
Reversal Opportunity📌 Indicator Description – Reversal Opportunity 🎯
🔍 General Overview
The Reversal Opportunity indicator is designed to identify ideal conditions for Reversal Trading, but it does not provide trade entry signals. Instead, it helps traders determine whether the market conditions are favorable for a potential reversal.
It is specifically designed for traders who execute Reversal trades (Long or Short) and want a clear indication of whether the market is currently suitable for such setups.
💡 What does this indicator do?
- Identifies strong momentum before a reversal (a sharp upward or downward move).
- Detects momentum slowdown (decreasing volume and smaller candles).
- Checks if the RSI is at an extreme level (above 70 or below 30), indicating potential overbought or oversold conditions.
- Displays a table at the top center of the screen with the following key data:
- Are the conditions for a reversal met?
- Is there a slowdown in momentum?
- Is RSI at an extreme level?
- Was there strong uptrend momentum before a possible Short Reversal?
- Was there strong downtrend momentum before a possible Long Reversal?
⚙️ How Does the Indicator Work?
The indicator displays a table in the center of the screen, updating every 5 candles to indicate whether the market conditions are ideal for a reversal trade.
📊 Main Status Row:
- ✔ Ideal Reversal Setup → Conditions for a reversal trade are met (not a trade recommendation).
- ✖ Not Ideal → Reversal conditions are not met; it may be better to wait.
📌 Key Criteria Displayed in the Table:
1. ⚠️ Momentum Slowdown
- Yes → Momentum is weakening (a good sign for reversal trades).
- No → The market is still moving strongly, and a reversal might not be ready yet.
2. 📈 RSI Extreme
- Yes → RSI is above 70 (overbought) or below 30 (oversold), indicating a potential reversal.
- No → RSI is still in a normal range, suggesting that waiting for further confirmation might be wise.
3. 📊 Uptrend Momentum Before Reversal
- Yes → There was a strong uptrend over multiple consecutive candles, potentially setting up for a Short Reversal.
- No → No strong upward momentum was detected, meaning conditions for a Short Reversal may not be ideal.
4. 📉 Downtrend Momentum Before Reversal
- Yes → There was a strong downtrend over multiple consecutive candles, potentially setting up for a Long Reversal.
- No → No strong downward momentum was detected, meaning conditions for a Long Reversal may not be ideal.
🛠️ How to Use the Indicator?
- If "✔ Ideal Reversal Setup" appears, there is a high probability of a market reversal – use your personal entry strategy for further confirmation.
- If Momentum Slowdown = Yes, RSI Extreme = Yes, and strong momentum occurred beforehand, this is an ideal setup for a reversal trade.
- If any conditions are missing ("No"), it may be better to wait for further confirmation instead of entering too early.
- The indicator does NOT provide trade entries! Use your existing trading system for confirmation before entering a trade.
👥 Who Is This Indicator For?
- Reversal traders (entering against the current trend after a strong move).
- Intraday traders looking for reversal trades at extreme market levels.
- Technical traders who rely on Price Action and Volume for trade setups.
⚠️ Disclaimer:
This indicator does not recommend trade entries but provides insight into market conditions. The trader is responsible for risk management and decision-making.
It is best used in combination with additional confirmations such as reversal candles, Order Flow, Bookmap, or Volume Profile to improve accuracy.
🚀 The indicator is ready to use – add it to TradingView and get instant feedback on whether the market is ideal for a Reversal trade!
Reversal pickerIs a tool used to determine market reversals, this tool is built of RSI and Moving Averages. Main aim of this tool is to help make market analysis easier by catching market reversal zones and alerting traders and investors about the market reversing and whether they should buy or sell.
What the tool do
- The tool catches market reversals
- The tool draw new support and resistance line for that period
- The tool alert you whether to buy or sell
How to use the tool
- Sell below resistance line and buy above support line
- The labels will guide you whether to buy or sell
- By default a red line is a resistance line and a green line is a support line
- By default a red label tells you to place a sell position and a green label tells you to place a buy position
Reversal MagictrendThis indicator combine multiple indicator in one pine script : Main indicator is Exponential Moving Average (EMA), Commodity Channel Index (CCI), Average True Range (ATR), Crossover Signal & Alert.
1)
For Exponential Moving Average (EMA) have 5 type :
EMA 7 : Green Color (Transparent)
EMA 21 : Red Color (Transparent)
EMA 34 : Orange Color (Faint)
EMA 50 : Purple Color (Transparent)
EMA 90 : Aqua Color (Faint)
Trendband / Background Color in between EMA line :
EMA 7 Cross up EMA 21 : Green
EMA 7 Cross down EMA 21 : Red
EMA 21 Cross up EMA : Yellow
Crossover Signal :
EMA 7 Cross up EMA 21 = Golden Cross : Blue Diamond
EMA 7 Cross down EMA 21 = Death Cross : Red Diamond
Example :
2)
Commodity Channel Index (CCI) :
Have background color : Green for positive value
CCI Signal = Anchor / Hook
- As a signal of reversal. Strong reversal when appear on weekly chart
Example :
Weekly :
Daily :
I am inspired from : www.tradingview.com
Check out his indicator here :
3)
Average True Range (ATR) as Supertrend
Green (Start) New Start for uptrend
Red (End) New Start for downtrend
Also Add on value for each signal.
Example :
I am inspired from : www.tradingview.com
Check out his Supertrend here :
4)
For this indicator, user have option to turn on / off :
- Previous Signal as a backtest
- Previous Trend as a backtest
- ATR to make chart more clean.
Reversal Candlestick Pattern Detector// Name: Reversal Candlestick Pattern Detector
// Condition:
// 1-up move: last n candles, 3/5 move higher; and/or the last is the highest in past n bars
// 2-down move: last n candles, 3/5 move lower; and/or the last is the lowest in past n bars
//
// Show Bullish reversal pattern in down move; Show Bearish reversal pattern in up move;
//
//Reversal candlestick patterns:
//1. Hammer/Shooting Star,
//2. Engulfing,
//3. Morning/Evening Star,
//4. Harami, --Also Harami could be used in continuation (Rally based Rally/Drop based Drop);
//5. Piercing/Dark Cloud cover,
//6. Hook Reversal
//7. Breakaway Gap, or Gap Crosses SMA8, SMA50. This is for un-filled Gap only. low >high or high <Low
Reversal Bar RecognizerThis script recognizes some specific reversal bars(different kinds of pin bars) and plot arrow on chart to determine the next possible move. It uses a basic algorithm to find only the best reversal bars not all of them. It can also be used to setup alerts on TradingView when these bars show up.
Reversal off EMASimple script find when a probable reversal will start. When price moves sharply away from the 13 EMA a BUY/SELL signal will pop up. Scripted to work on 5m 1h, 4h, and daily chart. But it doesn't work on all charts. Not sure why. I'm a forex trader and use this on NZDUSD. It doesn't give too good results on the JPY charts. I think its a fairly good reversal indicator. It definitely doesn't catch them all, and if there is a strong bearish or bullish impulse it doesn't work too well. But with all indicators, you need other conformations when to get in and when to get out. Hope it helps someone.
Reversal rehersal v1This indicator was designed to identify potential market reversal zones using a combination of RSI thresholds (shooting range/falling range), candlestick patterns, and Fair Value Gaps (FVGs). By combining all these elements into one indicator, it allow for outputting high probability buy/sell signals for use by scalpers on low timeframes like 1-15 mins, for quick but small profits.
Note: that this has been mainly tested on DE40 index on the 1 min timeframe, and need to be adjusted to whichever timeframe and symbol you intend to use. Refer to the backtester feature for checking if this indicator may work for you.
The indicator use RSI ranges from two timeframes to highlight where momentum is building up. During these areas, it will look for certain candlestick patterns (Sweeps as the primary one) and check for existance of fair value gaps to further enhance the hitrate of the signal.
The logic for FVG detection was based on ©pmk07's work with MTF FVG tiny indicator. Several major changes was implemented though and incorporated into this indicator. Among these are:
Automatically adjustments of FVG boxes when mitigated partially and options to extend/cull boxes for performance and clarity.
Backtesting Table (Experimental):
This indicator also features an optional simplified table to review historical theoretical performance of signals, including win rate, profit/loss, and trade statistics. This does not take commision or slippage into consideration.
Usage Notes:
Setup:
1. Add the indicator to your chart.
2. Decide if you want to use Long or Short (or both).
3. If you're scalping on ie. 1 min time frame, make sure to set FVG's to higher timeframes (ie. 5, 15, 60).
4. Enable the 'Show backtest results' and adjust the 'Signals' og 'Take profit' and 'Stop loss' values until you are satisfied with the results.
Use:
1. Setup an alert based on either of the 'BullishShooting range' or 'BearishFalling range' alerts. This will draw your attention to watch for the possible setups.
2. Verify if there's a significant imbalance prior to the signal before taking the trade. Otherwise this may invalidate the setup.
3. Once a signal is shown on the graph (either Green arrow up for buys/Red arrow down for sells) - you should enter a trade with the given 'Take profit' and 'Stop loss' values.
4. (optional) Setup an alert for either the Strong/Weak signals. Which corresponds to when one of the arrows are printed.
Important: This is the way I use it myself, but use at own risk and remember to combine with other indicators for further confluence. Remember this is no crystal ball and I do not guarantee profitable results. The indicator merely show signals with high probability setups for scalping.
Reversal Pivot PointsThis indicator aims to identify price levels where price action has quickly reversed from. These "pivots" establish major levels where major liquidity is located. Unlike standard support and resistance levels, when price breaks below or above a pivot, these pivots disappear from the chart. Comes with various customization features built to fit all.
Features
Pivot Timeframe: Identify and plot pivots from one specific timeframe and see it from all lower timeframes
Pivot left/right bar limit: A feature aimed at preventing false pivots identification
Remove On Close (ROC): Feature to only remove pivots once price close under it
ROC Timeframe: The timeframe the script uses to determine if the candle closed under the level
Wait For Close: Will only remove the pivot after the current candle closes
Line Extension Type: The extension of the line. None - extends line to current time, left - only extends line to the left, right - only extends line to the right, both - extends line both directions
Line Offset: How much to offset (in bars) the line and label from the current candle
Line Type: The style of line when plotted. Solid (─), dotted (┈), dashed (╌), arrow left (←), arrow right (→), arrows both (↔)
Display Level: Whether to or not to display the price of the pivot
Display Perfect Level: Whether to or not to display levels where price perfectly rejected off of
Alerts: Creates an alert when a level has been crossed
How to trade
1. Pivots can be traded to or from. The stock market (market makers) will tend to "chase" liquidity in order to fill orders at better averages. This allows us retail traders to to participate alongside these moves to these pivots. Once price action hits a pivot, it can do two things: break the pivot and continue or bounce off it. We can participate alongside these bounces after confirmation of a reversal (doji, volume, etc). These bounce plays are high risk as it's generally 50-50, but the risk to reward is typically also very high, making them very valuable to take.
2. Typically, the market is a fluid environment and should be "natural," so perfect things (manmade and filled with liquidity) should not occur. With this knowledge, we can expect these perfect levels, "PDT/PDB," to break as they are not natural occurrence and have heavy liquidity on and above/below them. We can trade to these levels and expect them to break/sweep if price action comes near them again.
Reversal Top Bottom HunterThis indicator is designed to detect buying and selling opportunities in financial markets by tracking peak and bottom points to identify potential reversal points, providing investors with potential entry and exit signals.
How It Works?
Peak and Bottom Definition: The indicator calculates the highest (peak) and lowest (bottom) prices for specified periods. These values form the basis of the signal triggering mechanism.
User Settings: Users can adjust the lookback period for identifying the peak and bottom points as well as the number of bars within which the conditions for buy or sell signals need to be met. This customization allows for greater flexibility and adaptation to different trading styles and market conditions.
Buy Signal: If the previous candle's lowest price equals the lowest bottom value over the specified period and other conditions are met (such as the previous high being lower than the one before it, and the closing price being higher than the previous opening price), a buy signal is generated. The buy signal is valid within a specified confirmation period and is triggered when the closing price is higher than the referenced high.
Sell Signal: If the previous candle's highest price equals the highest peak value over the specified period and other conditions are met (such as the previous low being higher than the one before it, and the closing price being lower than the previous high), a sell signal is generated. The sell signal is also valid within the specified confirmation period and is triggered when the closing price is lower than the referenced low.
Visual Signals
Buy Signal: Represented by a green triangle and displayed below the candle.
Sell Signal: Represented by a red triangle and displayed above the candle.
Alerts
The indicator includes alert conditions to inform users when buy and sell signals are generated. These alerts are triggered when a signal is produced within the defined confirmation period.
Conclusion
This indicator helps investors identify potential buying and selling points in the market. However, it is important to consider other market conditions and technical analysis tools before making any investment decisions. The customizable settings for the confirmation period and the number of bars for condition checks make this indicator adaptable to various market scenarios.
This indicator was inspired by the work of the analyst @TuncerSengoz.
Reversal finderThis script is used to visually highlight candles which may signal a reversal following a false break of a support or resistance level.
Inputs are:
Lookback period: look for the highest high and the lowest low of the prior x bars.
SMA length: used for a simple moving average of the range (high minus low) of the prior x bars.
Range multiple: used to filter out signals for any bars with a range smaller than the average range of the preceding bars (determined by SMA length above) e.g. a range multiple of 2 will only show signals for bars with a range twice of that of the average range of the preceding bars.
Range threshold: used to filter signals for bars both the open and close of the bar are at the extreme end of the bar e.g. a threshold setting of 33% will only show buy signals for bars which open and close within the upper 1/3rd of the bar’s high/low range (vice versa for sell signals). This helps highlight, for example, bars with a high which exceeds resistance in a current range but which close back inside the range.
Highlight signal bars?: This will highlight bars with a buy signal in green, sell signal bars in red, and all other bars in grey. The script was designed for use with a dark background, so you will need to play around with the bar colours in the style settings to suit your preferences.
Settings used in the example chart are not the default – they are lookback: 5, SMA length: 20, range multiple: 1.2, range threshold: 33%.
Enjoy!
Reversal SignalsUsed to find reversal points.
Like any other indicators use it with confluence as opposed to blindly following the signals.
For crypto I've found this works best for 1hr and 4hr charts.
Reversal Closing Pricelong = (low < low and close > close )
short = (high > high and close < close )
Reversal Assistant V1Uses a combination of MACD, money flow index and a combination of EMA's to indicate possible reversal bars