Joh Milanoski Green Red Reversal Indicator 12.26.2024

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// Joh Milanoski Green Red Reversal Indicator
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//
// DESCRIPTION:
// This is a trend reversal indicator that uses dynamic indicator candles from
// higher timeframes to identify potential buy and sell signals on your current chart.
// signals are generated when the candle color changes from bearish to bullish or vice versa.
//
// HOW IT WORKS:
// - Analyzes candles from selected timeframe (30m to 1D)
// - Ideal to use on lower time frame charts, ie 5,15, 30-minute timeframe for precise entry points
// - Provides visual feedback through triangles, labels, and background coloring
//
// SIGNAL INTERPRETATION:
// 🔺 Green Triangle (Below Bar) = BUY Signal - Potential upward reversal
// 🔻 Red Triangle (Above Bar) = SELL Signal - Potential downward reversal
// 🟢 Green Background = Current bullish trend
// 🔴 Red Background = Current bearish trend
//
// KEY FEATURES:
// - Multi-timeframe analysis for stronger signal confirmation
// - Real-time price integration from 5-minute chart
// - Customizable visual elements (colors, sizes, transparency)
// - Built-in alert system for automated notifications
// - Price labels with adjustable positioning
// - Optional connecting lines between signals and price labels
//
// RECOMMENDED USAGE:
// 1. Select appropriate timeframe (higher = stronger signals, fewer trades)
// 2. Wait for triangle signals to appear
// 3. Use displayed price for precise entry levels
// 4. Consider overall market trend and confirmation from other indicators
// 5. Enable alerts to avoid constant chart monitoring
//
// TIMEFRAME RECOMMENDATIONS:
// - Scalping: 30m - 1H (more signals, higher noise)
// - Day Trading: 2H - 4H (balanced frequency and reliability)
//
// CUSTOMIZATION OPTIONS:
// - Triangle Size: tiny, small, normal, large
// - Colors: Customizable buy/sell triangle colors
// - Label Positioning: Adjustable offset distances
// - Background: Transparency control for trend visualization
// - Text: Size and color customization for price labels
//
// ALERT SYSTEM:
// - Buy Alert: Triggered when green triangle appears
// - Sell Alert: Triggered when red triangle appears
// - Set up notifications in TradingView for real-time alerts
//
// BEST PRACTICES:
// - In settings Use higher timeframes for swing trading (6H, 12H, 1D)
// - Combine with support/resistance levels for confirmation
// - Consider overall market trend direction
// - Apply proper risk management and position sizing
// - Backtest on historical data before live trading
//
// RISK DISCLAIMER:
// This indicator is for educational purposes only. Past performance does not
// guarantee future results. Always use proper risk management and consider
// multiple confirmation signals before making trading decisions.
//
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