OPEN-SOURCE SCRIPT

Key Reversal Down Backtest

A key reversal is a one-day trading pattern that may signal the reversal of a trend.
Other frequently-used names for key reversal include "one-day reversal" and "reversal day."
How Does a Key Reversal Work?
Depending on which way the stock is trending, a key reversal day occurs when:
In an uptrend -- prices hit a new high and then close near the previous day's lows.
In a downtrend -- prices hit a new low, but close near the previous day's highs
WARNING:
- For purpose educate only
- This script to change bars colors.
backtestKEYkeyreversalkeyreversaldownKRDreversalTrend Analysis

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 publication is governed by House rules. You can favorite it to use it on a chart.

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