tops/bottoms
The script gives market tops and bottoms.
How to use:
-In an uptrend market condition - the bottoms signifies the extent of price pullback and can be used for going long after bottoms
-In an downtrend market condition - the tops signifies the extent of price pullback and can be used for going short after tops
-In a range bound market condition - both tops and bottoms signifies the extent of price extremes in the range channel and can be used for going long after bottoms and going short after tops.
This script is designed after a heavy research done on fibonacci numbers and moving averages where 13 acts as the best reversal point of tops and bottoms, if the market goes beyond it we can adjust period with the next fibonacci numbers ie 21,34,55 etc. to know about the next turning point and trade accordingly.
How to use:
-In an uptrend market condition - the bottoms signifies the extent of price pullback and can be used for going long after bottoms
-In an downtrend market condition - the tops signifies the extent of price pullback and can be used for going short after tops
-In a range bound market condition - both tops and bottoms signifies the extent of price extremes in the range channel and can be used for going long after bottoms and going short after tops.
This script is designed after a heavy research done on fibonacci numbers and moving averages where 13 acts as the best reversal point of tops and bottoms, if the market goes beyond it we can adjust period with the next fibonacci numbers ie 21,34,55 etc. to know about the next turning point and trade accordingly.
Release Notes:
-This script is based on bollinger bands 2.5 standard deviation reversal and doesn't relate to original script
-Original script is available as invite only, DM for more details
-Original script is available as invite only, DM for more details