Kovach ReversalsWith the Kovach Reversals indicator, we automate the process of scanning for technical candlestick reversal patterns. A bearish reversal is shown by a red triangle above the high of the most recent candlestick in the pattern, a green triangle indicates a bullish reversal. To mitigate false positives, we filter for the reversal patterns at the extrema of the price range, where a reversal is highly likely to occur. While many indicators are susceptible to time lag, the reversals are drawn instantaneously as the bar forms, giving you the ability to get in on a trade as the setup develops.
This indicator works best with the Kovach Momentum, Kovach Chande, or Kovach OBV indicators, where we can leverage the strengths of both to increase our probability of success.
Reversal
Magicians IndicatorMagicians Indicator gave a clear suggested entry point and is giving a clear suggested stop.
Leave a comment if you would like information on how to gain access to The Magician's Indicator.
MM-Microtrend-Reversal-IndicatorThis indicator detects microtrend reversals based on crossing of the DMI+ and DMI- + signals
It indicates the trigger event on the chart as well as the reversal candle
In addition to that it shows a countdown above the bars
This is helping when multiple reversals occur
Important: when the Bollinger Bands are crossed in the previous bars it's possible that the prognosted reversal will NOT show up
Recommended timeframes are M1 and M2
Avoid trading sideway trends, the reverals are low and reversal triggers and assumed reversal candles could get chaotic
MM-Microtrend-Reversal-IndicatorThis indicator detects microtrend reversals based on crossings of the DMI+ and DMI- signals
It indicates the trigger event on the chart as well as the reversal candle
In addition to that it shows a countdown above the bars
This is helping when multiple reversals occur.
Important: when the Bollinger Bands are crossed in the previous bars it's possible that the prognosted reversal will NOT show up
Recommended timeframes are M1 and M2
Avoid trading sideway trends, the reversals are low and reversal triggers and assumed reversal candles could get chaotic sometimes
Stefan Krecher: Jeddingen Divergence v2This is an update to my script:
Stefan-Krecher-Jeddingen-Divergence/
The behaviour is exactly the same, I just added the option to create alerts based on this indicator
Parabolic GlitterThis indicator overlays a series of Parabolic Stop And Reverses (SARs) to continuously illustrate trends as they form in addition to a range of good possible levels at which to place stop orders.
The Initial Start argument gives the minimum value for the SAR function's "Start" argument. The Increment/Start Ratio argument gives the ratio of the SAR function's "Increment" and "Start" arguments (i.e. SAR default is Start = 0.02, Increment = 0.02, therefore Increment/Start Ratio = 1). The same logic applies to the Max/Start Ratio Argument (i.e. SAR default is Start = 0.02, Max = 0.2, therefore Max/Start Ratio = 10).
The Adaptive Coloring argument determines whether the plotting points are red in downtrends and green in uptrends, or if all the plotted points are given the same color (defaults to silver).
Phi35 - Candlestick Reversal Patterns V1 ©Candlestick Reversal Pattern V1 by Phi35 - 9rd September 2016 ©
Check also my " Candlestick Continuation Pattern " indicator which will follow soon!
Do not modify the code without my permission!
If there is an issue or any suggestions, feel free to contact me on the link below
www.tradingview.com
www.tradingview.com
It seems to work well but still no guarantee on completeness!
RISK WARNING! PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. IN MAKING AN INVESTMENT DECISION, TRADERS MUST RELY ON THEIR OWN EXAMINATION OF THE ENTITY MAKING THE TRADING DECISIONS!
Wait always for confirmation (next opening price or closing price)!!
RECOGNIZABLE REVERSAL PATTERNS
01.Engulfing
02.Harami
03.Piercing Line
04.Morning Star
05.Evening Star
06.Belt Hold
07.Three White Soldiers
08.Three Black Crows
09.Three Stars in the South
10.Stick Sandwich
11.Meeting Line
12.Kicking
13.Ladder Bottom
Although the Engulfing and Harami Patterns are important but can occur too often and give false signals, I give you the option to turn them completely off.
Bollinger Band and Moving Average v0.1 by JustUncleLThis is another Bollinger Band strategy+indicator in my series of Bollinger based setups. This one is seems to work best with 5min charts and 20 to 30min expiry. The strategy follows variation of a Bollinger band + Moving Averages
reversal strategy, it uses the 2 moving averages mainly to determine market direction.
[NM] Reversal Candles v01Reversal candles are a very easy way to identify a turn in trend, this indicator has some specific additional conditions for the reversal candle.
BUY Signal reversal candle
Low of current candle exceeds low of previous candle
Low of current candle is lowest for last 7 candles
High of current candle exceeds high of previous candle
Close of current candle is in the upper 50% of the range of this candle
SELL Signal reversal candle
High of current candle exceeds high of previous candle
High of current candle is Highest for last 7 candles
Low of current candle exceeds low of previous candle
Close of current candle is in the lower 50% of the range of this candle
How do I trade it ? (example buy signal)
Wait for close of the candle and the BUY signal
Put a buy stop entry 5 pips above the high of the candle
Put a stop loss 5 pips below the low of the candle
Calculate difference between entry and stop loss and set your target that number of pips above the entry for a 1:1 RR trade*
Wait for your your target or stop loss to be triggered
* Alternatively, you can take 50% of the profit at the 1st (1:1 RR) profit target, move your stop to break even and let the rest of the position run for a higher potential profit.
Further advice on use
Personally I always look for some additional confirmation like a support or resistance level, a bounce of the EMA or a fibonacci level, but please feel free to add additional filters to make the strategy even more effective. I would strongly advise to backtest your strategy first so you can fine tune it and have confidence in trading it. Forward testing on a demo account before going live, although it takes longer, can be a worthy alternative. Works better on higher time frames.
How do you use it ?
Please leave a note in the comment section below to let me know if you use the indicator and how. There's definitely not just one way to use the indicator so I'm curious about your feedback.
To apply the script to your chart, just add it to your favourites so you can easily find it in the Indicators list.
Kindly leave me a thumbs up if you like this indicator or support my work, and do not hesitate to visit my other indicators. Thanks for your visit
Triple Bollinger BandsI found myself using multiple bollinger bands a lot so I decided to add them all to one script and add the ability to adjust them by 0.2. It has helped me by not taking up as much space in the upper left corner as well as improving my in's and outs of trend continuation trades. If you manage to find a double top at +2 or greater deviation, and with a bearish divergence on the RSI as shown in this picture, GO SHORT SON! This was a fast and easy 35 - 40 pips and if you used your fibonacci for an exit you had little doubt of the final result and could have even been prepared for an immediate reversal knowing you were then at an oversold -2.8 deviation. I could go on and on........
Reversal Candle Pattern SetUp
An outside reversal candle set up script with buy/sell signals. Looks simple but it's pretty powerful especially if combined with your choice confirming indicator.
The pattern psychology is this one (Frank Ochoa explanation): " The power behind this pattern lies in the psychology behind the traders involved in this setup. If you have ever participated in a breakout at support or resistance only to have the market reverse sharply against you, then you are familiar with the market dynamics of this setup.
[Basically, market participants are testing the waters above resistance or below support to make sure there is no new business to be done at these levels. When no initiative buyers or sellers participate in range extension, responsive participants have all the information they need to reverse price back toward a new area of perceived value.
As you look at a bullish outside reversal pattern, you will notice that the current bar's low is lower than the
prior bar's low. Essentially, the market is testing the waters below recently established lows to see if a downside
follow-through will occur. When no additional selling pressure enters the market, the result is a flood of buying
pressure that causes a springboard effect, thereby shooting price above the prior bar's highs and creating the
beginning of a bullish advance."
Naked Forex Trading StrategyBased on "How Naked Trading Works" video by Walter Peters: youtu.be I don't know this person and I am in no way affiliated with him. I just found his video interesting enough to make this into a script.
Rules as described by Walter in his video:
1. if current candle makes a higher high than the previous one
2. and is a bearish engulfing candle
3. and has room to the left
4. and is the largest candle (high - low) compared to the last 7-10 previous ones
Then open trade on the next candle once it breaks bearish engulfing candle's low and take profit close above previous support. Stop loss goes a few pips above bearish engulfing candle high
Do the opposite on a bullish engulfing candle signal.
Works best on 1H, 4H and 1D timeframes.
I haven't done any extensive backtesting on this, but it looks like it gives pretty good signals:
3-Bar-Reversal-Pattern Strategy This startegy based on 3-day pattern reversal described in "Are Three-Bar
Patterns Reliable For Stocks" article by Thomas Bulkowski, presented in
January,2000 issue of Stocks&Commodities magazine.
That pattern conforms to the following rules:
- It uses daily prices, not intraday or weekly prices;
- The middle day of the three-day pattern has the lowest low of the three days, with no ties allowed;
- The last day must have a close above the prior day's high, with no ties allowed;
- Each day must have a nonzero trading range.