50% Strat Retracement — Indicator by TraderCreatorPro

candlestickanalysis candlestick pivotpoints strat retracement reversal

The purpose of this script is to show/alert you when there is a 50% Strat Reversal. It works very well to find possible 3 candles.

The arrows, and line can be turned on and off.

You can change the 50% to say 45% so that you will be alerted before it actually hits the 50% retracement.

The script will only alert if the reversal is a 2up red candle, a 2up green candle which will hopefully turn into a 3 candle.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it 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.

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