OPEN-SOURCE SCRIPT
Price Action Volume Reversal
This TradingView strategy identifies potential trend reversals using a combination of price action, volume analysis, and reversal patterns. It detects high-probability trade setups by confirming bullish and bearish signals with increased volume.
Key Features:
Volume Confirmation: Uses a dynamic volume threshold (SMA-based) to filter strong price moves.
Engulfing Patterns: Recognizes bullish and bearish engulfing formations that indicate trend shifts.
Pin Bar Detection: Identifies reversal candlesticks (pin bars) to enhance entry precision.
Trade Entries:
Long Entry: When a bullish engulfing or pin bar forms with high volume.
Short Entry: When a bearish engulfing or pin bar forms with high volume.
Visual Signals: Buy and sell signals are plotted directly on the chart for easy identification.
This strategy is designed for traders looking to capitalize on strong momentum shifts and reversal points with volume-backed confirmations.
Key Features:
Volume Confirmation: Uses a dynamic volume threshold (SMA-based) to filter strong price moves.
Engulfing Patterns: Recognizes bullish and bearish engulfing formations that indicate trend shifts.
Pin Bar Detection: Identifies reversal candlesticks (pin bars) to enhance entry precision.
Trade Entries:
Long Entry: When a bullish engulfing or pin bar forms with high volume.
Short Entry: When a bearish engulfing or pin bar forms with high volume.
Visual Signals: Buy and sell signals are plotted directly on the chart for easy identification.
This strategy is designed for traders looking to capitalize on strong momentum shifts and reversal points with volume-backed confirmations.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.