Failed Reversal

This is built on False Reversal or say Profit Booking logic where price is moving in an direction and suddenly reverses but then fails to sustain on that reversal and comes back to original trend.This is a Trend Following system and the entry exits are based on price action using 2 candles wherein close of second candle defines Entry and low of previous is SL.This also has an Stop loss Filter so that user's can avoid the trades having big candles as per their risk appetite .
Release Notes: This is an EMA based study ,it shows shift of trend based on EMA cloud.
Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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Nice script!
hPpsanj589 BenevolentStockCharts
@BenevolentStockCharts, Thank you ,Just wanted to check by what name did you find it ,,my friends are not able to search it by name FAILED REVERSAL.
@hPpsanj589, Oh I always check for new scripts everyday. I just sort by new and yours popped up on that day.
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