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Adaptive Trend Cloud + Smart Reversal Zones [@darshakssc]This indicator combines a volatility-adjusted trend cloud with RSI- and volume-based reversal signals to help traders visually spot potential trend continuation or reversal zones. It’s designed to look clean, colorful, and informative — great for both beginners and experienced traders looking for chart clarity and actionable insights. 🔍 How It Works 🔵 1. Trend Cloud 1. The cloud is created using a 34-period EMA as the base and adjusted with a 14-period ATR multiplier. 2. When price is above the EMA, the cloud turns green (bullish). 3. When price is below the EMA, it turns red (bearish). 4. A neutral gray tone shows when price is inside the cloud, signaling potential indecision. 🔁 2. Smart Reversal Signal Logic 1. Signals appear only when price enters the cloud zone, indicating a potential change in direction. 2. To confirm the reversal, the following conditions must also be met: 3. RSI is below 40 (for bullish reversals) or above 60 (for bearish reversals) 4. A volume spike occurs (1.8× the 20-bar volume average) 5. A cooldown of 10 bars between signals prevents overplotting 🎯 3. TP & SL Labels 1. When a valid buy or sell signal appears: 🎯 TP (Take Profit) is placed at 2× ATR distance 🛑 SL (Stop Loss) is placed at 1× ATR distance These levels are shown via chart labels for visual reference 🛎️ 4. Alerts 1. Built-in alerts trigger on: 🟢 Buy reversal signals 🔴 Sell reversal signals ✅ How to Use 1. Apply the indicator to any chart (works best on 5min–4h timeframes) 2. Look for the 🟢 Buy / 🔴 Sell labels when price touches the cloud 3. Use the visual TP/SL markers as reference zones — not financial advice 4. Combine with your own risk management, price action or confluence tools ⚙️ Customization Options 1. EMA & ATR lengths and multipliers 2. RSI and volume thresholds 3. Signal cooldown to reduce noise 4. Toggle TP/SL zones on or off ⚠️ Disclaimer This script is for educational purposes only and does not constitute financial advice. Always test on demo accounts and combine with your own trading system.
Pine Script® indicator
by darshakssc
9 EMA 75% HA Crossover + EMA ReversalThis script identifies potential trend reversal points using Heikin-Ashi candles and the 9-period Exponential Moving Average (EMA). A signal is generated only when: The 9 EMA reverses direction after a consistent trend (up or down). The EMA crosses into at least 75% of the Heikin-Ashi candle body. The highlighted candle must align with the reversal: Green candle for bullish reversal Red candle for bearish reversal This setup helps filter out weak signals by combining price structure, trend behavior, and candle color confirmation.
Pine Script® indicator
by tomsantonyv
Rally Base Drop SND Pivots Strategy [LuxAlgo X PineIndicators]This strategy is based on the Rally Base Drop (RBD) SND Pivots indicator developed by LuxAlgo. Full credit for the concept and original indicator goes to LuxAlgo. The Rally Base Drop SND Pivots Strategy is a non-repainting supply and demand trading system that detects pivot points based on Rally, Base, and Drop (RBD) candles. This strategy automatically identifies key market structure levels, allowing traders to: Identify pivot-based supply and demand (SND) zones. Use fixed criteria for trend continuation or reversals. Filter out market noise by requiring structured price formations. Enter trades based on breakouts of key SND pivot levels. How the Rally Base Drop SND Pivots Strategy Works 1. Pivot Point Detection Using RBD Candles The strategy follows a rigid market structure methodology, where pivots are detected only when: A Rally (R) consists of multiple consecutive bullish candles. A Drop (D) consists of multiple consecutive bearish candles. A Base (B) is identified as a transition between Rallies and Drops, acting as a pivot point. The pivot level is confirmed when the formation is complete. Unlike traditional fractal-based pivots, RBD Pivots enforce stricter structural rules, ensuring that each pivot: Has a well-defined bullish or bearish price movement. Reduces false signals caused by single-bar fluctuations. Provides clear supply and demand levels based on structured price movements. These pivot levels are drawn on the chart using color-coded boxes: Green zones represent bullish pivot levels (Rally Base formations). Red zones represent bearish pivot levels (Drop Base formations). Once a pivot is confirmed, the high or low of the base candle is used as the reference level for future trades. 2. Trade Entry Conditions The strategy allows traders to select from three trading modes: Long Only – Only takes long trades when bullish pivot breakouts occur. Short Only – Only takes short trades when bearish pivot breakouts occur. Long & Short – Trades in both directions based on pivot breakouts. Trade entry signals are triggered when price breaks through a confirmed pivot level: Long Entry: A bullish pivot level is formed. Price breaks above the bullish pivot level. The strategy enters a long position. Short Entry: A bearish pivot level is formed. Price breaks below the bearish pivot level. The strategy enters a short position. The strategy includes an optional mode to reverse long and short conditions, allowing traders to experiment with contrarian entries. 3. Exit Conditions Using ATR-Based Risk Management This strategy uses the Average True Range (ATR) to calculate dynamic stop-loss and take-profit levels: Stop-Loss (SL): Placed 1 ATR below entry for long trades and 1 ATR above entry for short trades. Take-Profit (TP): Set using a Risk-Reward Ratio (RR) multiplier (default = 6x ATR). When a trade is opened: The entry price is recorded. ATR is calculated at the time of entry to determine stop-loss and take-profit levels. Trades exit automatically when either SL or TP is reached. If reverse conditions mode is enabled, stop-loss and take-profit placements are flipped. Visualization & Dynamic Support/Resistance Levels 1. Pivot Boxes for Market Structure Each pivot is marked with a colored box: Green boxes indicate bullish demand zones. Red boxes indicate bearish supply zones. These boxes remain on the chart to act as dynamic support and resistance levels, helping traders identify key price reaction zones. 2. Horizontal Entry, Stop-Loss, and Take-Profit Lines When a trade is active, the strategy plots: White line → Entry price. Red line → Stop-loss level. Green line → Take-profit level. Labels display the exact entry, SL, and TP values, updating dynamically as price moves. Customization Options This strategy offers multiple adjustable settings to optimize performance for different market conditions: Trade Mode Selection → Choose between Long Only, Short Only, or Long & Short. Pivot Length → Defines the number of required Rally & Drop candles for a pivot. ATR Exit Multiplier → Adjusts stop-loss distance based on ATR. Risk-Reward Ratio (RR) → Modifies take-profit level relative to risk. Historical Lookback → Limits how far back pivot zones are displayed. Color Settings → Customize pivot box colors for bullish and bearish setups. Considerations & Limitations Pivot Breakouts Do Not Guarantee Reversals. Some pivot breaks may lead to continuation moves instead of trend reversals. Not Optimized for Low Volatility Conditions. This strategy works best in trending markets with strong momentum. ATR-Based Stop-Loss & Take-Profit May Require Optimization. Different assets may require different ATR multipliers and RR settings. Market Noise May Still Influence Pivots. While this method filters some noise, fake breakouts can still occur. Conclusion The Rally Base Drop SND Pivots Strategy is a non-repainting supply and demand system that combines: Pivot-based market structure analysis (using Rally, Base, and Drop candles). Breakout-based trade entries at confirmed SND levels. ATR-based dynamic risk management for stop-loss and take-profit calculation. This strategy helps traders: Identify high-probability supply and demand levels. Trade based on structured market pivots. Use a systematic approach to price action analysis. Automatically manage risk with ATR-based exits. The strict pivot detection rules and built-in breakout validation make this strategy ideal for traders looking to: Trade based on market structure. Use defined support & resistance levels. Reduce noise compared to traditional fractals. Implement a structured supply & demand trading model. This strategy is fully customizable, allowing traders to adjust parameters to fit their market and trading style. Full credit for the original concept and indicator goes to LuxAlgo.
Pine Script® strategy
by PineIndicators
Eroina Trend Reversal Indicator with ConfirmationsEroina Trend Reversal Indicator with Confirmations Overview (English): The Trend Reversal Indicator with Confirmations is designed to identify potential trend reversals by analyzing dynamic resistance and support levels. This script uses a robust confirmation system to reduce false signals, making it ideal for traders who seek disciplined, data-driven decisions. Key Features: • Dynamic Levels: Calculates resistance and support levels based on user-defined lengths. • Breakout Confirmation: Confirms trend reversals by validating price action over a specified number of candles. • Visual Cues: Displays “LONG” and “SHORT” signals directly on the chart, alongside resistance/support levels. • Customizable Parameters: Adaptable to different timeframes and market conditions. How It Works: 1. Resistance & Support Levels: • Resistance: Calculated as the highest high over the last N bars. • Support: Calculated as the lowest low over the last N bars. 2. Breakout Detection: • A resistance breakout occurs when the price closes above the resistance level. • A support breakout occurs when the price closes below the support level. 3. Confirmation Logic: • Signals are validated only if the price remains above/below the levels for a user-defined number of candles. 4. Entry Signals: • “LONG” signals indicate a confirmed breakout above resistance. • “SHORT” signals indicate a confirmed breakdown below support. Settings: • Resistance Length: Defines the number of candles used to calculate resistance levels. • Support Length: Defines the number of candles used to calculate support levels. • Confirmation Candles: Specifies how many candles are required to confirm breakouts. Usage: This indicator is ideal for identifying trend reversals and optimizing entry points. Combine it with volume analysis or other technical indicators to enhance accuracy. For example: • Use in conjunction with RSI to avoid overbought/oversold conditions. • Combine with moving averages to confirm the trend direction. Overview (Additional Language): (Your additional language description can go here after English, e.g., Russian, Spanish, etc.)
Pine Script® indicator
by Roksolana_Trach
2
Turtle Soup ICT Strategy [TradingFinder] FVG + CHoCH/CSD🔵 Introduction The ICT Turtle Soup trading setup, designed in the ICT style, operates by hunting or sweeping liquidity zones to exploit false breakouts and failed breakouts in key liquidity Zones, such as recent highs, lows, or major support and resistance levels. This setup identifies moments when the price breaches these liquidity zones, triggering stop orders placed (Stop Hunt) by other traders, and then quickly reverses direction. These movements are often associated with liquidity sweeps that create temporary market imbalances. The reversal is typically confirmed by one of three structural shifts : a Market Structure Shift (MSS), a Change of Character (CHoCH), or a break of the Change in State of Delivery (CISD). Each of these structural shifts provides a reliable signal to interpret market intent and align trading decisions with the expected price movement. After the structural shift, the price frequently pullback to a Fair Value Gap (FVG), offering a precise entry point for trades. By integrating key concepts such as liquidity, liquidity sweeps, stop order activation, structural shifts (MSS, CHoCH, CISD), and price imbalances, the ICT Turtle Soup setup enables traders to identify reversal points and key entry zones with high accuracy. This strategy is highly versatile, making it applicable across markets such as forex, stocks, cryptocurrencies, and futures. It offers traders a robust and systematic approach to understanding price movements and optimizing their trading strategies 🟣 Bullish and Bearish Setups Bullish Setup : The price first sweeps below a Sell-Side Liquidity (SSL) zone, then reverses upward after forming an MSS or CHoCH, and finally pulls back to an FVG, creating a buying opportunity. Bearish Setup : The price first sweeps above a Buy-Side Liquidity (BSL) zone, then reverses downward after forming an MSS or CHoCH, and finally pulls back to an FVG, creating a selling opportunity. 🔵 How to Use To effectively utilize the ICT Turtle Soup trading setup, begin by identifying key liquidity zones, such as recent highs, lows, or support and resistance levels, in higher timeframes. Then, monitor lower timeframes for a Liquidity Sweep and confirmation of a Market Structure Shift (MSS) or Change of Character (CHoCH). After the structural shift, the price typically pulls back to an FVG, offering an optimal trade entry point. Below, the bullish and bearish setups are explained in detail. 🟣 Bullish Turtle Soup Setup Identify Sell-Side Liquidity (SSL) : In a higher timeframe (e.g., 1-hour or 4-hour), identify recent price lows or support levels that serve as SSL zones, typically the location of stop-loss orders for traders. Observe a Liquidity Sweep : On a lower timeframe (e.g., 15-minute or 30-minute), the price must move below one of these liquidity zones and then reverse. This movement indicates a liquidity sweep. Confirm Market Structure Shift : After the price reversal, look for a structural shift (MSS or CHoCH) indicated by the formation of a Higher Low (HL) and Higher High (HH). Enter the Trade : Once the structural shift is confirmed, the price typically pulls back to an FVG. Enter a buy trade in this zone, set a stop-loss slightly below the recent low, and target Buy-Side Liquidity (BSL) in the higher timeframe for profit. 🟣 Bearish Turtle Soup Setup Identify Buy-Side Liquidity (BSL) : In a higher timeframe, identify recent price highs or resistance levels that serve as BSL zones, typically the location of stop-loss orders for traders. Observe a Liquidity Sweep : On a lower timeframe, the price must move above one of these liquidity zones and then reverse. This movement indicates a liquidity sweep. Confirm Market Structure Shift : After the price reversal, look for a structural shift (MSS or CHoCH) indicated by the formation of a Lower High (LH) and Lower Low (LL). Enter the Trade : Once the structural shift is confirmed, the price typically pulls back to an FVG. Enter a sell trade in this zone, set a stop-loss slightly above the recent high, and target Sell-Side Liquidity (SSL) in the higher timeframe for profit. 🔵 Settings Higher TimeFrame Levels : This setting allows you to specify the higher timeframe (e.g., 1-hour, 4-hour, or daily) for identifying key liquidity zones. Swing period : You can set the swing detection period. Max Swing Back Method : It is in two modes "All" and "Custom". If it is in "All" mode, it will check all swings, and if it is in "Custom" mode, it will check the swings to the extent you determine. Max Swing Back : You can set the number of swings that will go back for checking. FVG Length : Default is 120 Bar. MSS Length : Default is 80 Bar. FVG Filter : This refines the number of identified FVG areas based on a specified algorithm to focus on higher quality signals and reduce noise. Types of FVG filter s: Very Aggressive Filter: Adds a condition where, for an upward FVG, the last candle's highest price must exceed the middle candle's highest price, and for a downward FVG, the last candle's lowest price must be lower than the middle candle's lowest price. This minimally filters out FVGs. Aggressive Filter: Builds on the Very Aggressive mode by ensuring the middle candle is not too small, filtering out more FVGs. Defensive Filter: Adds criteria regarding the size and structure of the middle candle, requiring it to have a substantial body and specific polarity conditions, filtering out a significant number of FVGs. Very Defensive Filter: Further refines filtering by ensuring the first and third candles are not small-bodied doji candles, retaining only the highest quality signals. In the indicator settings, you can customize the visibility of various elements, including MSS, FVG, and HTF Levels. Additionally, the color of each element can be adjusted to match your preferences. This feature allows traders to tailor the chart display to their specific needs, enhancing focus on the key data relevant to their strategy. 🔵 Conclusion The ICT Turtle Soup trading setup is a powerful tool in the ICT style, enabling traders to exploit false breakouts in key liquidity zones. By combining concepts of liquidity, liquidity sweeps, market structure shifts (MSS and CHoCH), and pullbacks to FVG, this setup helps traders identify precise reversal points and execute trades with reduced risk and increased accuracy. With applications across various markets, including forex, stocks, crypto, and futures, and its customizable indicator settings, the ICT Turtle Soup setup is ideal for both beginner and advanced traders. By accurately identifying liquidity zones in higher timeframes and confirming structure shifts in lower timeframes, this setup provides a reliable strategy for navigating volatile market conditions. Ultimately, success with this setup requires consistent practice, precise market analysis, and proper risk management, empowering traders to make smarter decisions and achieve their trading goals.
Pine Script® indicator
by TFlab
6
[blackcat] L1 Swing Reversal█ OVERVIEW The script is an indicator that calculates and plots the L1 Swing Reversal, which involves smoothing price data and calculating a modified RSI to identify potential swing reversals in the market. It overlays columns representing the smoothed price data and a line for the adjusted RSI. █ LOGICAL FRAMEWORK The script begins by defining input parameters for customizable periods. It then calculates the typical price, derives components of the swing reversal indicator, smooths these components, and computes an adjusted RSI. The main sections include input parameter definitions, function definition, and plotting. The script flows data through calculations and logical operations to produce final plot values. █ CUSTOM FUNCTIONS Function: l1_swing_reversal This function calculates the L1 Swing Reversal indicators based on high, low, close, and open prices, along with three periods. It computes a smoothed price component and an adjusted RSI. Parameters: • high : High prices of the asset. • low : Low prices of the asset. • close : Close prices of the asset. • period_n : Period for the first component calculation. • period_m : Period for standard deviation and moving average calculations. • period_n1 : Period for RSI calculation. Return Values: • cc1_column_red : Red column values for the first component. • cc1_column_green : Green column values for the first component. • rsi : Adjusted RSI values. █ KEY POINTS AND TECHNIQUES The script uses several key Pine Script features such as the sma (simple moving average), stdev (standard deviation), max, abs, and ema (exponential moving average) functions. It also demonstrates the use of conditional operators to cap the column values at -100 and 100. The script’s structure is clear and follows best practices by encapsulating the main logic within a function and using descriptive variable names. █ EXTENDED KNOWLEDGE AND APPLICATIONS Potential modifications could include adding more sophisticated reversal signals based on the RSI and column values, or enhancing the visualization with additional plot types. This script could be used in scenarios where traders are interested in identifying potential swing reversals using a combination of smoothed price data and momentum indicators. Related Pine Script concepts include using barssince for counting bars since a condition, crossover and crossunder for detecting trend changes, and hline for adding horizontal lines to the chart.
Pine Script® indicator
by blackcat1402
3
Larry Conners Vix Reversal II Strategy (approx.)This Pine Script™ strategy is a modified version of the original Larry Connors VIX Reversal II Strategy, designed for short-term trading in market indices like the S&P 500. The strategy utilizes the Relative Strength Index (RSI) of the VIX (Volatility Index) to identify potential overbought or oversold market conditions. The logic is based on the assumption that extreme levels of market volatility often precede reversals in price. How the Strategy Works The strategy calculates the RSI of the VIX using a 25-period lookback window. The RSI is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is often used to identify overbought and oversold conditions in assets. Overbought Signal: When the RSI of the VIX rises above 61, it signals a potential overbought condition in the market. The strategy looks for a RSI downtick (i.e., when RSI starts to fall after reaching this level) as a trigger to enter a long position. Oversold Signal: Conversely, when the RSI of the VIX drops below 42, the market is considered oversold. A RSI uptick (i.e., when RSI starts to rise after hitting this level) serves as a signal to enter a short position. The strategy holds the position for a minimum of 7 days and a maximum of 12 days, after which it exits automatically. Larry Connors: Background Larry Connors is a prominent figure in quantitative trading, specializing in short-term market strategies. He is the co-author of several influential books on trading, such as Street Smarts (1995), co-written with Linda Raschke, and How Markets Really Work. Connors' work focuses on developing rules-based systems using volatility indicators like the VIX and oscillators such as RSI to exploit mean-reversion patterns in financial markets. Risks of the Strategy While the Larry Connors VIX Reversal II Strategy can capture reversals in volatile market environments, it also carries significant risks: Over-Optimization: This modified version adjusts RSI levels and holding periods to fit recent market data. If market conditions change, the strategy might no longer be effective, leading to false signals. Drawdowns in Trending Markets: This is a mean-reversion strategy, designed to profit when markets return to a previous mean. However, in strongly trending markets, especially during extended bull or bear phases, the strategy might generate losses due to early entries or exits. Volatility Risk: Since this strategy is linked to the VIX, an instrument that reflects market volatility, large spikes in volatility can lead to unexpected, fast-moving market conditions, potentially leading to larger-than-expected losses. Scientific Literature and Supporting Research The use of RSI and VIX in trading strategies has been widely discussed in academic research. RSI is one of the most studied momentum oscillators, and numerous studies show that it can capture mean-reversion effects in various markets, including equities and derivatives. Wong et al. (2003) investigated the effectiveness of technical trading rules such as RSI, finding that it has predictive power in certain market conditions, particularly in mean-reverting markets . The VIX, often referred to as the “fear index,” reflects market expectations of volatility and has been a focal point in research exploring volatility-based strategies. Whaley (2000) extensively reviewed the predictive power of VIX, noting that extreme VIX readings often correlate with turning points in the stock market . Modified Version of Original Strategy This script is a modified version of Larry Connors' original VIX Reversal II strategy. The key differences include: Adjusted RSI period to 25 (instead of 2 or 4 commonly used in Connors’ other work). Overbought and oversold levels modified to 61 and 42, respectively. Specific holding period (7 to 12 days) is predefined to reduce holding risk. These modifications aim to adapt the strategy to different market environments, potentially enhancing performance under specific volatility conditions. However, as with any system, constant evaluation and testing in live markets are crucial. References Wong, W. K., Manzur, M., & Chew, B. K. (2003). How rewarding is technical analysis? Evidence from Singapore stock market. Applied Financial Economics, 13(7), 543-551. Whaley, R. E. (2000). The investor fear gauge. Journal of Portfolio Management, 26(3), 12-17.
Pine Script® strategy
by EdgeTools
Butterfly Harmonic Pattern [TradingFinder] Harmonic Detector🔵 Introduction The Butterfly Harmonic Pattern is a sophisticated and highly regarded tool in technical analysis, utilized by traders to identify potential reversal points in the financial markets. This pattern is distinguished by its reliance on Fibonacci ratios and geometric configurations, which aid in predicting price movements with remarkable precision. The origin of the Butterfly Harmonic Pattern can be traced back to the pioneering work of Bryce Gilmore, who is credited with discovering this pattern. Gilmore's extensive research and expertise in Fibonacci ratios laid the groundwork for the identification and application of this pattern in technical analysis. The Butterfly pattern, like other harmonic patterns, is based on the principle that market movements are not random but follow specific structures and ratios. The pattern is characterized by a distinct "M" shape in bullish scenarios and a "W" shape in bearish scenarios, each indicating a potential reversal point. These formations are identified by specific Fibonacci retracement and extension levels, making the Butterfly pattern a powerful tool for traders seeking to capitalize on market turning points. The precise nature of the Butterfly pattern allows for the accurate prediction of target prices and the establishment of strategic entry and exit points, making it an indispensable component of a trader's analytical arsenal. Bullish : Bearish : 🔵 How to Use Like other harmonic patterns, the Butterfly pattern is categorized based on how it forms at the end of an uptrend or downtrend. Unlike the Gartley and Bat patterns, the Butterfly pattern, similar to the Crab pattern, forms outside the wave 3 range at the end of a rally. 🟣 Types of Butterfly Harmonic Patterns 🟣 Bullish Butterfly Pattern This pattern forms at the end of a downtrend and leads to a trend reversal from a downtrend to an uptrend. 🟣 Bearish Butterfly Pattern In contrast to the Bullish Butterfly pattern, this pattern forms at the end of an uptrend and warns analysts of a trend reversal to a downtrend. In this case, traders are encouraged to shift their trading stance from buy trades to sell trades. Advantages and Limitations of the Butterfly Pattern in Technical Analysis : The Butterfly pattern is considered one of the precise and stable tools in financial market analysis. However, it is always important to pay special attention to the advantages and limitations of each pattern. Here, we review the advantages and disadvantages of using the Butterfly harmonic pattern : The main advantage of the Butterfly pattern is providing very accurate signals. Using Fibonacci golden ratios and geometric rules, the Butterfly pattern identifies patterns accurately and systematically. (This high accuracy significantly helps investors in making trading decisions.) Identifying this pattern requires expertise and experience in technical analysis. Recognizing the Butterfly pattern might be complex for beginner traders. (Correct identification of the pattern necessitates mastery over geometric principles and Fibonacci ratios.) The Butterfly harmonic pattern might issue false trading signals. (Traders usually combine the Butterfly pattern with other technical tools to confirm buy and sell signals.) 🔵 Setting 🟣 Logical Setting ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition. Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern. Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk. Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period. 🟣 Genaral Setting Show : Enter "On" to display the template and "Off" to not display the template. Color : Enter the desired color to draw the pattern in this parameter. LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness. LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries. 🟣 Alert Setting Alert : On / Off Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar". Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Pine Script® indicator
by TFlab
1
Advanced Fully Reversed Candles with Reversed IchimokuThe "Advanced Fully Reversed Candles with Reversed Ichimoku" indicator is a sophisticated tool designed for traders who seek a unique perspective on market dynamics. This innovative indicator not only reverses the traditional candlestick chart but also inverts the Ichimoku Cloud components, providing a comprehensive view of the market's inverted behavior. Key Features: Reversed Candlestick Chart: The indicator recalculates the OHLC (Open, High, Low, Close) prices by reversing them along the price axis. This means that what typically would be an upward movement is displayed as a downward movement, and vice versa. This reversal provides an alternative view that can help traders identify hidden patterns and potential reversal points that might not be obvious on a standard chart. Reversed Ichimoku Cloud: All components of the Ichimoku Cloud indicator are recalculated based on the reversed price data. This includes: Tenkan-sen (Conversion Line): Reversed based on the highest and lowest prices over the specified period. Kijun-sen (Base Line): Reversed in a similar manner to the Tenkan-sen, providing a medium-term perspective on price trends. Senkou Span A (Leading Span A): Reversed to form one boundary of the Kumo (cloud), offering insight into future support and resistance levels. Senkou Span B (Leading Span B): Reversed to form the other boundary of the Kumo, complementing Senkou Span A. Chikou Span (Lagging Span): Reversed and plotted backward for additional confirmation of trend direction and strength. Dynamic Price Range Calculation: The indicator dynamically calculates the maximum and minimum prices over the last 500 bars (or the available range if fewer bars are present). This ensures that the reversal is always based on the most relevant data, providing accurate and up-to-date visualizations. Visual Enhancements: The reversed candlesticks are color-coded for easy interpretation: green for upward movements and red for downward movements, based on the reversed data. The Ichimoku Cloud is filled with semi-transparent colors to clearly distinguish between bullish and bearish conditions even in its reversed state. Debugging Aids: For transparency and accuracy, the indicator plots the maximum and minimum price lines used for the reversal calculations. This allows users to verify the internal workings of the indicator and ensure the reversal logic is correctly applied. Usage: This indicator is ideal for advanced traders and analysts who want to explore market behavior from an unconventional angle. By reversing both the candlestick chart and the Ichimoku Cloud, it provides a unique perspective that can uncover new trading opportunities and enhance market analysis. Customization: Users can customize the periods for the Tenkan-sen, Kijun-sen, and Senkou Span B, as well as the displacement for the Ichimoku Cloud. This flexibility allows traders to adapt the indicator to their specific trading strategies and timeframes. Conclusion: The "Advanced Fully Reversed Candles with Reversed Ichimoku" indicator is a powerful tool that transforms traditional market analysis. By inverting both price movements and key technical indicators, it opens up a new dimension of trading insights, helping traders to see the market in a completely different light. Parameters: Tenkan-sen period (default: 9) Kijun-sen period (default: 26) Senkou Span B period (default: 52) Displacement (default: 26) How to Apply: Add the script to your TradingView account via the Pine Editor. Customize the parameters according to your trading strategy. Analyze the reversed candlestick chart and Ichimoku Cloud to gain unique insights into market trends and potential reversal points.
Pine Script® indicator
by sayhibro
4
Enhanced Reversal DetectionScript Description: The "Enhanced Reversal Detection" indicator is a powerful tool designed to identify potential market reversals across various financial instruments. It incorporates a sophisticated algorithm that analyzes price action along with key technical indicators such as the Relative Strength Index (RSI), Bollinger Bands, and Moving Average (MA). How to Use: Adjustable Parameters: The indicator offers a range of adjustable parameters to cater to different trading preferences and market conditions. RSI Length: Adjusts the length of the RSI calculation to fine-tune sensitivity. Overbought Level: Sets the threshold for identifying overbought conditions on the RSI scale. Oversold Level: Sets the threshold for identifying oversold conditions on the RSI scale. Bollinger Bands Length: Determines the length of the Bollinger Bands calculation. Bollinger Bands Multiplier: Adjusts the standard deviation multiplier for the Bollinger Bands, influencing band width. Moving Average Length: Defines the length of the Moving Average calculation to capture trend direction. Min Bars Between Signals: Sets the minimum number of bars required between consecutive reversal signals. ADX Length: Adjusts the length of the Average Directional Index (ADX) calculation. ADX Threshold: Defines the threshold value for ADX, serving as a filter for reversal signals. Signal Generation: The indicator generates signals for both bullish and bearish reversals based on predefined criteria. A bullish reversal signal is triggered when the closing price exceeds the lower Bollinger Band and RSI falls below the oversold threshold. Conversely, a bearish reversal signal occurs when the closing price falls below the upper Bollinger Band and RSI surpasses the overbought threshold. Alerts: Traders can opt to receive alerts for bullish and bearish reversal signals, enabling them to stay informed of potential trading opportunities even when away from the platform. Publication Readiness: To ensure readiness for publication in the TradingView public library, the script has been meticulously crafted and documented: The code is extensively commented to provide clear explanations of parameters, calculations, and signal generation logic. Best coding practices have been followed to enhance readability and maintainability. Rigorous testing has been conducted to validate the accuracy and reliability of signal generation across various market conditions. The script adheres to TradingView's guidelines and policies for script publication, ensuring compliance with platform standards and user expectations. With its comprehensive features and user-friendly design, the "Enhanced Reversal Detection" indicator is poised to become a valuable asset for traders seeking to identify high-probability reversal opportunities in the financial markets.
Pine Script® indicator
by Algo_Systems
Trend Tide Oscillator [UAlgo]🔶 Description: The "Trend Tide Oscillator " is a technical analysis tool designed to identify potential trend reversals and overbought/oversold conditions in the market. It calculates an oscillator based on the Commodity Channel Index (CCI) and then applies smoothing techniques to provide a clearer view of market momentum. 🔶 Key Features: Oscillator Calculation : The indicator calculates an oscillator based on the Commodity Channel Index (CCI), which is a momentum-based oscillator used to identify overbought and oversold conditions. Smoothing : Smoothing techniques are applied to the oscillator to reduce noise and provide a clearer view of market momentum. This helps traders in identifying trends more effectively. Support and Resistance Zones : The indicator plots support and resistance zones based on the highest and lowest values of the oscillator over a specified lookback (default 50) period. These zones can help traders identify potential areas of price reversal. The indicator considers volatility when plotting the support and resistance zones. This aims to create more adaptable levels that account for fluctuating market conditions. Visualization : The indicator visually represents overbought and oversold conditions with shapes (⚠️), aiding traders in quickly identifying potential entry or exit points. Customization : Users can adjust parameters such as oscillator length, smoothing, and overbought/oversold levels, support and resistance lookbacks according to their trading preferences. 🔶 Disclaimer : This indicator is provided for informational and educational purposes only and should not be considered as financial advice. Trading in the financial markets involves risk, and users should conduct their own research and analysis before making any investment decisions.
Pine Script® indicator
by UAlgo
1
QQE Weighted Oscillator [LuxAlgo]The QQE (Quantitative Qualitative Estimation) Weighted Oscillator improves on its original version by weighting the RSI based on the indications given by the trailing stop, requiring more effort in order for a cross with the trailing stop to occur. 🔶 USAGE The QQE Weighted Oscillator is comprised of a smoothed RSI oscillator and a trailing stop derived from this same RSI. The oscillator can be used to indicate whether the market is overbought/oversold as well as an early indication of trend reversals thanks to the leading nature of the RSI. Using higher Factor values will return a longer-term trailing stop. Like with a regular RSI divergence can be indicative of a reversal. Further weighting will control how much "effort" is required for the trailing stop to cross the RSI. For example. For example, an RSI above the trailing stop will require a higher degree of negative price variations in order for a potential cross to occur when using higher weights. This can cause higher weightings to return more cyclical and smoother results. 🔶 SETTINGS Length: Length of the RSI oscillator. Factor: Multiplicative factor used for the trailing stop calculation. Smooth: Degree of smoothness of the RSI oscillator. Weight: Degree of weighting used for the RSI calculation.
Pine Script® indicator
by LuxAlgo
23
HyperTrend [LuxAlgo]The HyperTrend indicator aims to provide a real-time estimate of an underlying linear trend in the price. Support and resistance extremities are constructed from this estimate which can provide trade opportunities within the overall trend. Most tools that return lines on a chart are either subject to backpainting or repainting. We aimed to provide a reliable real-time method to estimate linear trends in the price, enhancing traders' decision making processes when it comes to trading trends in price, hence the term 'HyperTrend'. 🔶 USAGE Users can use the HyperTrend to easily determine the trend direction in the price, with an average sloping upward indicating an uptrend, and an average sloping downward indicating a downtrend. The channels upper extremity can act as a resistance, while the lower extremity can act as a support. Contact with candle wicks can signal timely reversals/retracements. Using a higher "Multiplicative Factor" value will return less frequent new channels, and is suitable to analyze longer-term trends. The slope settings on the other end allow us to control the slope of the returned channels, with higher values returning flatter results (similar to our previously posted predictive ranges). 🔹 Channel Average The channel average can return an estimate of the current (and future) trend in the price, the chart below shows an interval where a linear regression is displayed alongside the channel average: Unlike the linear regression, the average does not have any lookahead bias, this of course comes at the price of accuracy in most cases. Users can also use this average as a support or resistance. The breakout of a TC average that has been tested multiple times can be considered more significant in suggesting a trend reversal. 🔶 SETTINGS Multiplicative Factor: Control the allowed degree of deviation of the price from the average line. Higher values will return less frequent new channels. Slope: Controls the steepness of the returned lines. Higher values will return flatter results. Width %: Width percentage of the channel. Lower results will return narrower channels.
Pine Script® indicator
by LuxAlgo
33
Trend Reversal DetectionIntroducing the "Trend Reversal Detection" indicator, a sophisticated and user-friendly script that utilizes the PeacefulIndicators library to identify potential trend reversals in the market. This indicator is designed to help you stay ahead of market changes and enhance your trading analysis. The Trend Reversal Detection indicator offers the following features: Customizable input parameters, allowing you to adjust the Rate of Change (ROC) length, Moving Average (MA) length, and MA type (SMA, EMA, or WMA) according to your trading preferences and style. A visually intuitive display, using orange and blue markers to indicate potential trend reversals, making it easy to interpret the indicator's signals. The core functionality of the Trend Reversal Detection indicator is powered by the trendReversalDetection function from the PeacefulIndicators library, ensuring accurate and reliable reversal detection. To start using the Trend Reversal Detection indicator in your trading analysis, simply add the script to your chart and customize the input parameters as needed. We hope this script, built upon the PeacefulIndicators library, proves to be a valuable addition to your trading strategy.
Pine Script® indicator
by The_Peaceful_Lizard
1
Sushi Trend [HG]🍣 The Sushi Roll, a trading concept conceived at a restaurant by Mark Fisher. While the indicator itself goes by Sushi Trend, it is completely backed by the idea of Mark Fisher's Sushi Roll Reversal Pattern. No, it has nothing to do with raw fish, it just so happens that somebody was ordering sushi during the discussion of the idea, and that's how it got its name. 📝 Origin First mentioned in his book, The Logical Trader --- the idea of the Sushi Roll is to serve as an early warning system to identify reversals in the market. Fisher defines the pattern as a series of 10 bars, split into two different sections, seen as 5 and 5. In order for the pattern to be emitted, the 5 bars to the right must completely engulf the 5 bars to the left. It's not a super complex system and is in fact extremely simple to grasp. 📈 Supertrend Similarities Instead of displaying the pattern in the way Fisher meant for it to be portrayed (as seen in the photo above), I instead turned it into an indicator similar to that of Supertrend while also inheriting the same concepts from the pattern. I did this because the pattern itself has inconsistencies which can be quite noticeable when trading with it after a while. For example, these patterns can occur even during consolidating periods, and even though the pattern is meant to be recognized during trending markets, the engulfing bars can sometimes be left with indecisive directions. ➡️ The Result Here is the result, visualized to be better in a trending format. (The indicator will not contain the boxes.) While Fisher does mention the pattern to include 10 bars, you can actually use this pattern with any number of bars. At the end of the day, it's a concept derived from a discussion at a Japanese restaurant, and a pattern that has been around for years that has seen results. Due to this, I added an input option to control the series of bars for right-bar engulf detection. To reassure the meaning of the pattern --> "A series of 10 bars" means 5 left bars and 5 right bars. So if you want to check if 5 right bars are engulfing the previous 5 bars (as seen in the photo above), you would want to select 5 in the input settings. You can learn more about it from the following links Market Reversals and the Sushi Roll Technique The Logical Trader
Pine Script® indicator
by HoanGhetti
16
Trampoline DotsTrampoline Dots (Price Divergence) Higher Time Frame Price Divergence: Trampoline Dots serve as a "quick bounce" tool. These little dots will trigger whenever the higher aggregation MACD is above / below zero and the price is below / above the 50 period simple moving average. When these criteria are met, the price is usually under pressure of strong divergence, more often than not price will sharply reverse into the trend direction usually within the next few bars. The Use of The Trampoline Dots: This indicator can serve multiple ways. Obviously the main use case is the price divergence. These "dots" will not give you any precise & exact entry. But rather a zone of possible incoming reversal. There is no timing to it. All these dots will do is warn you about potential sharp reversal in the upcoming bars. It can be used by itself alone for sure, but the best way to utilize the dots is to use them in combination of other trend or momentum studies. The best signals are the ones that are within the larger time frame trend. Another great thing is that the visuals are really straight-forward and simple. It is either green dot or a red dot. Nothing more, nothing less. Also since the indicator is pretty small, it can be easily layered onto other studies as well which can create an additional confirmation for different patterns or setups. Which Time Frame Are Reliable? This indicator works on any time frame. But the most "stable" one is the daily & hourly time frame. My personal favorite is the hourly since these divergences can produce amazing entries in the daily trends (which are usually hidden on the daily chart). In the most aggresive trends, I like to see the green dots triggering around the 8 EMA and 13 EMA. Daily chart can show the daily and weekly (big divergences) that can take multiple days & weeks to resolve. Hope it helps.
Pine Script® indicator
by lnlcapital
Triple RSI strategyThis strategy is commonly used both in forex and stock markets for reversal trading. when the rsi line reaches and crosses simultaneously at 3 rsi setups i.e at 7, 14, and 21, a signal is generated. This strategy works best in 1-hour timeframe. It provides over 60 to 80 percent accuracy in 1-hour timeframe. In the stock market, this strategy provides an excellent entry point, if one is seeking small profits. One can expect to make around 10 to 50 pips in the forex market easily. However, I advise seeking support from price action from the lower timeframe in the forex market. I hope you like it. Follow for more strategies and scripts like this.
Pine Script® strategy
by Trade_by_DB
Average Daily Range (ADR) (Multi Timeframe, Multi Period)Average Daily Range (ADR) (Multi Timeframe, Multi Period, Extended Levels) Tips • Narrow Zones are an indication of breakouts. It can be a very tight range as well. • Wider Zones can be Sideways or Volatile. What is this Indicator? • This is Average Daily Range (ADR) Zones or Pivots. • This have Multi Timeframe, Multi Period (Up to 3 Levels) and Extended Target Levels. Advantages of this Indicator • This is a Leading indicator, not Dynamic or Repaint. • Helps to identify the reversal points. • The levels are more accurate and not like the old formulas. • Can practically follow the Buy Low and Sell High principle. • Helps to keep minimum Stop Loss. Who to use? • Highly beneficial for Day Traders • It can be used for Swing and Positions as well. What timeframe to use? • Any timeframe. When to use? • Any market conditions. How to use? Entry • Long entry when the Price reach at or closer to the Green Support zone. • Long entry when the Price retrace to the Red Resistance zone. • Short entry when the Price reach at or closer to the Red Resistance zone. • Short entry when the Price retrace to the Green Support zone. • Long or Short at the Pivot line. Exit • Use past ADR levels as targets. • Or use the Target levels in the indicator for breakouts. • Use the Pivot line as target. • Use Support or Resistance Zones as targets in reversal method. What are the Lines? Gray Line: • It the day Open or can be considered as Pivot. Red & Green ADR Zones: • Red Zone is Resistance. • Green Zone is Support. • Mostly price can reverse from this Zones. • Multiple Red and Green Lines forms a Zone. • These lines are average levels of past days which helps to figure out the maximum and minimum price range that can be moved in that day. • The default number of days are 5, 7 and 14. This can be customized. Red & Green Target Lines: • These are Target levels. What are the Labels? • First Number: Price of that level. • Numbers in (): Percentage change and Change of price from LTP (Last Traded Price) to that Level. General Tips • It is good if Stock trend is same as that of the Index trend. • Lots of indicators creates lots of confusion. • Keep the chart simple and clean. • Buy Low and Sell High. • Master averages or 50%.
Pine Script® indicator
by Arun_K_Bhaskar
103
Optimised RSI strategy for Reversals (by Coinrule)The most common way to use the RSI to spot a good buy opportunity is to check for values lower than 30. Unfortunately, the RSI can remain in oversold territory for long periods, and that could leave you trapped in a trade in loss. It would be appropriate to wait for a confirmation of the trend reversal. In the example above I use a short-term Moving Average (in this case, the MA9) coupled with an RSI lower than 40. This combination of events is relatively rare as reversal confirmations usually come when RSI values are already higher. As unusual as this setup is, it provides buy-opportunities with much higher chances of success. The parameters of this strategy would be: ENTRY: RSI lower than 40 and MA9 lower than the price TAKE PROFIT and STOP-LOSS with a ratio of at least 2. That means that if you set up a take profit of 3%, your stop-loss shouldn’t be larger than 1.5%. The advantage of this approach is that it has a high rate of success and allows you the flexibility of setting up the percentages of the take profit and stop-loss according to your preferences and risk appetite.
Pine Script® strategy
by Coinrule
Folded Relative Strength Index [CC]The Folded Relative Strength Index was created by Richard Poster (Stocks and Commodities July 2021 pg 21) and this indicator provides both trend strength but also momentum and of course reversal points using the overbought and oversold markers. If the indicator line is above the mid line then this shows upward momentum and when it falls below the midline then this means it is losing momentum. When the indicator rises above the signal line then this shows upward trend strength and vice versa. Buy when the indicator line turns green and sell when it turns red. Let me know if there are any other indicators you would like to see me publish!
Pine Script® indicator
by cheatcountry
ArcTan Oscillator [LuxAlgo]The following indicator is a normalized oscillator making use of the arc tangent sigmoid function (ArcTan), this allows to "squarify" the output result, thus visually filtering out certain variations originally in the oscillator. The magnitude of this effect can be controlled by the user. The indicator contains a gradient that shows the possibility of a reversal, with red colors indicating that a reversal might occur. Settings Length : Period of the oscillator Pre-Gain : Changes the amplitude of the oscillator before passing through the ArcTan function, this allows to amplify/reduce the "squarification" effect introduced by this function. In order to make it easier for the user, the setting is in a (-10,10) range, with negative values reducing the amplitude and positive one increasing it. Src : Source input of the indicator Usage The oscillator can be used to determine the direction of the trend by looking at its sign, if the oscillator is positive, market is up-trending, else down-trending, based on this usage the user might not be interested to look at every variations produced by the oscillator, this is where the hyperbolic tangent function and pre-gain setting can be useful, by using an high value of pre-gain the user will be able to only focus on the sign of the oscillator. Here pre-gain is set to 5, we can see that the oscillator is now easier to visualize. However, the use of sigmoid functions remove useful information for a trader that needs to find divergences, this is where using a negative value of the pre-gain setting will result useful. Here pre-gain is set to -5. The indicator makes use of a gradient to show potential reversals, this gradient is determined by the correlation between the oscillator and the price (this is a way to measure potential divergences). If the color is closer to red it means that a potential reversal might occur, it is possible to say in which direction price might go by looking at the sign of the oscillator, so if the gradient is red and the oscillator is negative price might rise. The gradient is not affected by the pre-gain setting.
Pine Script® indicator
by LuxAlgo
4
HTF Candlestick Patterns [TradingView] vX by DGTCandlesticks are graphical representations of price movements for a given period of time. They are commonly formed by the opening, high, low, and closing prices of a financial instrument. They have their origins in the centuries-old Japanese rice trade and have made their way into modern day price charting. It’s important to note that candlestick patterns aren’t necessarily a buy or sell signal by themselves. They are instead a way to look at market structure and a potential indication of an upcoming opportunity. It is always useful to look at candlestick patterns in context like any other market analysis tool and candlestick patterns are most useful when used in combination with other techniques. There are countless candlestick patterns that traders can use to identify areas of interest on a chart, where some candlestick patterns may provide insights into the balance between buyers and sellers, others may indicate a reversal, continuation, or indecision. Reversal patterns are quite useful when used in context. Reversal patterns should form at the bottom of a downtrend or at the top of an uptrend. Otherwise, they are not a reversal patterns, but continuation patterns. Most reversal patterns require confirmation such as price move in the direction of reversal accompanied by appropriate trading volume. The reversal patterns can further be confirmed through other means of traditional technical analysis—like trend lines, momentum, oscillators, or volume indicators—to reaffirm buying or selling pressure. The patterns themselves do not guarantee that the trend will reverse. Investors should always confirm reversal by the subsequent price action before initiating a trade. This study implements some of the most commonly used candlestick patterns in a context with directional movement indicator. On request users can adjust the strong trend threshold from dialog box, eighter can disabled correlation with directional movement indicator. To add additional sight to analysis the simple moving averages of 20, 50, 100 and 200 periods are added (configurable) You may add additional indicators of your choice. Colored DMI, BB Cloud or Price Distance to its MAs may help Enjoy it! Disclaimer: The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd tradingview user liable for any possible claim for damages arising from any decision you make based on use of the script
Pine Script® indicator
by dgtrd
18
(JS)DMI BarsAlright - so this is my own version of John Carter's "10x Bars"... I have done multiple things that are different from his version so they are slightly different.. So first of all the main indicator is based off of the ADX and the DMI; For those who aren't familiar with it, Directional Movement is what you'd pull up under "built-in's" from the indicators tab (if you want to check it out). The standard interpretation of this however, is when the ADX is above 20 that suggests the trend is strong, whereas under 20 suggests it is weak. Also, when the D+ is above the D- that suggests a bullish trend, and D- above D+ suggests a bearish trend. These bars take away the need to have it at the bottom of your screen, and places the data on the bars on your chart instead. ========================================================================================================================================= So here's what the colors stand for - Yellow - The ADX is under 20, no strength in trend Shades of green occur when the ADX is above 20 and there's a bullish trend (D+ higher than D-) Bright Green (Lime) - Bullish trend, D+ above 30 Green - Bullish Trend Yellow Green - Bullish trend, D+ below 15 Shades of red occur when the ADX is above 20 and there's a bearish trend (D- higher than D+) Bright Red - Bearish trend, D- above 30 Red - Bearish Trend Orange - Bearish trend, D- below 15 ========================================================================================================================================= I have also added multiple time frame labels (label script used is the one created by Ricardo Santos) These labels are color coded the same as the bars/candles, and they appear off to the right of your screen using every built in time increment from TradingView. The purpose is to show you in real time, and on any chart resolution, what the current trend is on every individual time frame. So using just one single chart you'll see your current resolutions candles, but also on the labels you'll see: 1 Minute 3 Minute 5 Minute 15 Minute 30 Minute 45 Minute 1 Hour 2 Hour 3 Hour 4 Hour Daily Weekly Monthly There is an input I added that allows you to adjust where your labels appear on the side of your screen as well! ========================================================================================================================================= Now onto the volume spike portion of the indicator. This will plot a blue dot under each bar that has a spike in volume which meets your specified criteria. I have 500% as the default setting. What that means is that this indicator looks back and gets the 50 bar volume average and then applies dots where volume is 500% above average. ========================================================================================================================================= Now finally, the reversal arrows. This is another simple to understand concept that I first read in John Carter's book "Mastering the Trade" that he calls "HOLP/LOHP". I have added the ability to change the look back period you'd like the indicator to watch for highs and lows on. What that stands for is 'High of Low Period' and 'Low of High Period', and it is used like this- Whenever a bar makes a new high the indicator watches the low on that highest bar. Then when a bar afterwards makes a lower low then the one on the high bar, a reversal arrow is given. Apply this same concept in the other direction in for the highs on the lowest bars. ========================================================================================================================================= Now, I didn't want to make a "set" or have a bunch of different indicators out there that are all intended for the same package, so I took the time to put them together, and if there's a part of it you don't care for they can easily be turned off in the settings. Enjoy!
Pine Script® indicator
by J-Streak
11