OPEN-SOURCE SCRIPT
Updated Ripping and Dipping Reversals
Waits for price to be ripping or dipping a while based on aligned trending moving averages, then on a strong reversal bar indicates a potential buy or sell.
Release Notes
Waits for a series of EMAs to align in a trending direction (stacked on top of below each other from fast to slow). Once "Ripping (trending up) or Dipping (trending down) occur, AND a set number of bars have past while ripping or dipping, trend trades and reversal trades are signaled when a bar closes above or below the high or low of the last bar. 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.