aaryan47

Kybing Reversal-Zones

This is an Indicator to identify Reversal Zones for Intraday and Weekly positional trades.
It Works on Nifty , BankNifty and also on high liquidity stocks.

For Intraday:-
Preferred Time frame is 15 mins.
Take Buy entry when price is rejected at Daily_S1 and closed above Daily_S0, With Target 1 as 1:2 RR, Target 2 as Daily_MRB and Target 3 as Daily_R0. Stop loss would be below the Previous candle Low or below Daily_S1
Take Sell entry when price is rejected at Daily_R1 and closed below Daily_R0, With Target 1 as 1:2 RR, Target 2 as Daily_MRT and Target 3 as Daily_S0. Stop loss would be above the Previous candle High or above Daily_R1


For Positional:-
Preferred Time frame is 60 mins.
Take Buy entry when price is rejected at Weekly_S1 and closed above Weekly_S0, With Target 1 as 1:2 RR, Target 2 as Weekly_MRB and Target 3 as Weekly_R0. Stop loss would be below the Previous candle Low or below Weekly_S2
Take Sell entry when price is rejected at Weekly_R1 and closed below Weekly_R0, With Target 1 as 1:2 RR, Target 2 as Weekly_MRT and Target 3 as Weekly_S0. Stop loss would be above the Previous candle High or above Weekly_R2
Positional trades are valid from Monday to Friday only, can't be carry forward to next week.

Use EMAs for stronger confirmations.


Disclaimer Note: Even though the purpose of the indicator is to make good profits, but any losses occurred Please do not blame the indicator. I tried my best to make it accurate.
please back-test it before you use it, and also Please provide your valuable comments with its accuracy.
Release Notes: Version 2 updates:

Added 2 SMAs
Added PDH/PDL
Added facility to switch between Weekly and Monthly zones
Release Notes: As per Users request added below new features:

Added VWAP
Added Previous Day Open and Close
Added 1 more EMA
Release Notes: SMAs Corrected
Release Notes: Changed Short title to "Kybing"
EMA3 set to 200 as Default
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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