OPEN-SOURCE SCRIPT
Updated MS Reversals
Display of a certain type of reversal bars. Reversal formations have to be considered in market context. Basically downward signals in the uptrend are ignored, unless there is an non-correlated inversion setup. Similarly, upside signals in downtrends are ignored until a bullish reversal setup occurs.
Release Notes
Changes the ratio of body and range size for a one-bar-reversal structure.Release Notes
Another reversal structure added. Release Notes
Reversal signals work best in U.S. equities. They are now linked to the evaluation of reversal movements in extreme zones of the VIX. The adjustable parameters are explained with tooltips. It is essential to combine the signals with a trend filter. Missing signals are in many cases valid reversal signals and can be used for stoploss or for entries orders.
Release Notes
Actualized chartOpen-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.