Yet another indicator from myself following to my previous indicator "FIRST-5-MINUTES-ZONE-AND-HI-LO-BRKOUTS",
this is TO IDENTIFY INTRADAY REVERSAL ZONES...!!!
- It works on any time frame
- along with those zones i have added two more lines Red and Green which will be used as Intraday Resistance and Support lines.
- Pls donot expect Profit and Stop points, that is upto you.
- If market goes beyond those zones well then consider that market is trading stronger. So..trade with strict stops accordingly. If the market goes beyond those zones then LOOK LEFT for the previous zones and trade.
- 80% of time, the market respects those zones.
- The zones colours are CUSTOMIZABLE
- A simple strategy to use this in confluence with,
RSI (7) Range [75, 25], EMA (100) **** If stock trading above 100 EMA, Rsi in overbought, price in upper reversal zones, then voila...get some sack ready to fill the money...!!! same goes for opposite side *****
well then Traders, Enjoy and let's put some money in Bank....!!!!!
@sparsanjay9,
thanks for this great indicator> what does thes zones correspond to? high low previous n days?
Vishvin
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@sparsanjay9 Many thanks for your indicator. I have added to my list. If possible could you please create another reversal indicator for monthly zone? This will help many small retailers like me.
MehmetKursadUnal
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It seems a good indicator that I added my favourite list. Is there any explanation how to use it?
techie_mints
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bro can you please share the pine script
mankecik
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Hi, Please grant access to test
ksbatmanarkhamasylum
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It would be great if you add Ema 20,50,100,200 to the indicator
You shall easily get the source on the indicator list in trading view.
Also indicator shows accurate support and resistance zones which is great,loved this .