EasyTradingSignals

ETS DeMarker Reversals

This script is based on scarf's "DeMarker with Highlights" and adds dots indicating where a possible reversal could occur, as well as a zones that can help you identify consolidation areas. This script also adds smoothing to decrease false signals so that the indicator is more reliable to signal reversal zones.

It is also very useful in determining divergence in price compared to the indicator, especially when you look at price action compared to the DeMarker indicator.

When the indicator is between 40 and 60, there is a good chance that price will respond by moving sideways and consolidating, above and below those levels, the market tends to start trending.

I hope this helps you to trade better!

Doing what I can to help people trade better. Past performance doesn't guarantee future results. Trade at your own risk. This is not financial advice, it is personal opinion, I'm not a financial adviser. I may have a stake in what I write about.
Open-source script

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.

Disclaimer

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