High probability reversal detector

18 小時前

It is my pleasure to share this indicator with you. It serves me every day in my trading. This scrypt identifies candlesticks with a high probability of trend reversal.
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Bearish candlesticks turn dark red and bullish candlesticks turn dark green.
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The candlesticks of indecision turn white.
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In any case, it is crucial to understand how it got there. Is the trend starting to run out of steam (are they getting smaller on the way there)? Are we in a support/resistance zone, at a trend line or at an interesting Fibonacci retracement? Are we near the 50 or even 200 SMA (as everyone watch these levels). Always wait for a trend reversal confirmation candle. This candle must come fairly quickly (1 to 5 candles max) otherwise the reversal thesis no longer holds.I favor bullish reversals if we are above the 200 SMA and bearish ones if below the 200 SMA.
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I hope you enjoy this tool as much as I do. Feal free to drop a comment. Let's make some big money now!

2 分鐘前

發行說明

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2025-02-28 I applied oversold and overbought conditions to the indicator to reduce occurrences