Three-Bar Reversal Signal

2024年10月18日

This indicator is a simple setup of Three Bar Reversal. Logic of the code is as below.

Rules :
Long Setup
Bar 1 closes down
Low of Bar 2 is below the low of Bar 1 (and Bar 3)
Bar 3 closes above the high of both Bar 1 and Bar 2
Buy at the close of Bar 3

Short Setup
Bar 1 closes up
High of Bar 2 is above the high of Bar 1 (and Bar 3)
Bar 3 closes below the low of both Bar 1 and Bar 2
Sell at the close of Bar 3

2024年10月18日

發行說明

Updated title and username

2024年10月18日

發行說明

Updated the Script to generate indicator only when the bar is closed.

2024年11月8日

發行說明

Updating the current script by changing the detection method from high to close. Hence reducing unwanted signals.

2024年11月8日

發行說明

Updated visible marker on the chart to highlight 3-Bar setup for better recognition and decision making on 3 Bar reversal.