OPEN-SOURCE SCRIPT
Updated Reflex
This script uses the highest high from the current time frame and 4990 period back.
Based on this value and considering that the price has a natural will to breakthrough it, retracments are calculated and draw.
The white line represents a possible next target the price will reach. The grren line the highest price from the current time frame and blue lines the retracemts where the price likely reacts as reflexes in a mirror.
Based on this value and considering that the price has a natural will to breakthrough it, retracments are calculated and draw.
The white line represents a possible next target the price will reach. The grren line the highest price from the current time frame and blue lines the retracemts where the price likely reacts as reflexes in a mirror.
Release Notes
Updating the indicator. Now it can be used for Forex Pairs.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.