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Reversal Finder 2
The "Reversal Finder" indicator is designed to identify potential market reversals using a combination of technical analysis tools:
RSI: Used to identify overbought and oversold conditions.
Volume Analysis: Signals when current volume is significantly higher than the average over a specified lookback period.
Supertrend: Detects trend changes to indicate potential trend reversal points.
Candlestick Patterns: Specifically bullish and bearish engulfing patterns are used for entry signals.
Divergence: Identifies potential bullish or bearish divergences between price action and the RSI indicator.
Fibonacci Levels: Determines retracement levels to support reversal predictions.
The indicator generates long (buy) or short (sell) signals based on these factors, which can trigger alerts.
RSI: Used to identify overbought and oversold conditions.
Volume Analysis: Signals when current volume is significantly higher than the average over a specified lookback period.
Supertrend: Detects trend changes to indicate potential trend reversal points.
Candlestick Patterns: Specifically bullish and bearish engulfing patterns are used for entry signals.
Divergence: Identifies potential bullish or bearish divergences between price action and the RSI indicator.
Fibonacci Levels: Determines retracement levels to support reversal predictions.
The indicator generates long (buy) or short (sell) signals based on these factors, which can trigger alerts.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.