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
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This is an EMA based study ,it shows shift of trend based on EMA cloud.
Hello bro
first of all i wanna thank you for your indicator its pretty nice I'm testing it will see how it's going to work but so far doing well as I'm testing
and about your question about what name did you find it, if you tried to search by FAILED REVERSAL you wouldn't find it I should search for leading ema then you will find it as FAILED REVERSAL
thank you again for your indicator
BenevolentStockCharts
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Nice script!
hPpsanj589
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@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.
BenevolentStockCharts
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@hPpsanj589, Oh I always check for new scripts everyday. I just sort by new and yours popped up on that day.
first of all i wanna thank you for your indicator its pretty nice I'm testing it will see how it's going to work but so far doing well as I'm testing
and about your question about what name did you find it, if you tried to search by FAILED REVERSAL you wouldn't find it I should search for leading ema then you will find it as FAILED REVERSAL
thank you again for your indicator