OPEN-SOURCE SCRIPT
Failed 2 Strat
Inspired by Trader Mike, this indicator brings up failed 2 candles, alerting to possible reversals and 1R:1R scalps in the opposite direction. I've been using the m3 9EMA for continuation to push the trade a little further too.
Supported Timeframes Summary
Failed 2 on Opposite FVG on fvg_window) Approx Coverage
M15 M1 25 ~25 min
H1 M5 15 ~75 min
H3 M15 12 ~3 hours
H4 M15 10 ~2.5 hours
H6 M15 8 ~2 hours
D H1 12 ~12 hours
Supported Timeframes Summary
Failed 2 on Opposite FVG on fvg_window) Approx Coverage
M15 M1 25 ~25 min
H1 M5 15 ~75 min
H3 M15 12 ~3 hours
H4 M15 10 ~2.5 hours
H6 M15 8 ~2 hours
D H1 12 ~12 hours
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.