K's Reversal Indicator II by Sofien-Kaabar

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K’s Reversal Indicator II uses a moving average timing technique to deliver its signals. The method of calculation is as follows:

* Calculate a moving average (by default, a 13-period moving average).
* Calculate the number of times where the market is above its moving average. Whenever that number hits 21, a bearish signal is generated, and whenever that number if zero, a bullish signal is generated.

The indicator signals short-term to mid-term reversals as a mean-reversion move.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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