OPEN-SOURCE SCRIPT
Red Dog Reversal Intraday
Alerts and bubbles for Red Dog Reversal (RDR) Buy/Sell on intraday chart. Optionally plots prior day High/Low/Close and alerts on price crosses of those prior levels.
Definitions:
Configuration:
Enable Alert Crossover to alert when price crosses over or under any prior day's level, i.e. High, Low, Close.
Enable Alert Reversal to alert when Red Dog Reversal Buy or Sell.
Note:
To get alerts you must create alerts on your chart, and in the configuration select RDR as the condition. Then in the Alert name select RDR: Any alert() function call
Definitions:
- Red Dog Reversal (RDR) sell is when the price trades below the prior day's low, then reclaims it in the same session. This is will marked with a bubble and alerted.
- Red Dog Reversal (RDR) buy is when the price trades above the prior day's high, then loses it in the same session. This will be marked with a bubble and alerted.
Configuration:
Enable Alert Crossover to alert when price crosses over or under any prior day's level, i.e. High, Low, Close.
Enable Alert Reversal to alert when Red Dog Reversal Buy or Sell.
Note:
To get alerts you must create alerts on your chart, and in the configuration select RDR as the condition. Then in the Alert name select RDR: Any alert() function call
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 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.