PROTECTED SOURCE SCRIPT
Heikin Ashi 1h Reversal Strategy [Mr_Orange]
Updated
This my first published script, so if there are tips or questions, please let me know.
The goal of the script is to recognise a reversal pattern from bearish to bullish sentiment on a 1 hour chart. I want my trade entries to be "mechanically chosen" and not emotionally.
I have seen Heikin Ashi chart reversal scripts, as well as scripts to identify patterns on Stoch RSI , what I was looking for was a Heikin Ashi Reversal Candlestick Pattern which uses the Stochastic RSI as a confirmation for a reversal from bearish to bullish sentiment. I've yet to find one of those, so I decided to study pine scripts and make one myself that works the way I want, and because I've written it myself, I understand how it works. It is purely designed for the 1h chart and Heikin Ashi candles, please do not use it with regular candles. Other timeframes I have not studied, but in my experience, the smaller the timeframes, the trickier it gets, the higer, the more reliable.
At the moment I only included a Buy alert. I have not yet decided on a Sell signal/alert.
Thanks for checking it out!
If you think it is worth something:
- BTC: 1NrG3Sy2VW8u4wWHucj1CQjKQ6hXYwbSyX
The goal of the script is to recognise a reversal pattern from bearish to bullish sentiment on a 1 hour chart. I want my trade entries to be "mechanically chosen" and not emotionally.
I have seen Heikin Ashi chart reversal scripts, as well as scripts to identify patterns on Stoch RSI , what I was looking for was a Heikin Ashi Reversal Candlestick Pattern which uses the Stochastic RSI as a confirmation for a reversal from bearish to bullish sentiment. I've yet to find one of those, so I decided to study pine scripts and make one myself that works the way I want, and because I've written it myself, I understand how it works. It is purely designed for the 1h chart and Heikin Ashi candles, please do not use it with regular candles. Other timeframes I have not studied, but in my experience, the smaller the timeframes, the trickier it gets, the higer, the more reliable.
At the moment I only included a Buy alert. I have not yet decided on a Sell signal/alert.
Thanks for checking it out!
If you think it is worth something:
- BTC: 1NrG3Sy2VW8u4wWHucj1CQjKQ6hXYwbSyX
Release Notes
Changed the buy signal, it is now more "certain" of a trend reversal. Also have tested this on the 15m and daily timeframes, which look good as well. Protected script
This script is published closed-source and you may privately use it freely.
Want to use this script on a chart?
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.