Reversal Points [CC]This original script was created based on a suggestion from @kerpiciwuasile. My original Reversal Points script was removed because I modeled it after an indicator by Demark, but this script will have no such issues. Reversal points are an exciting concept for me because it is such a useful tool when placing trades. This is my first attempt at a new overall layout for my script and I included a bunch of customization so let me know what you think.
My script works by finding lows that are surrounded by bars that have higher lows and highs that are surrounded by lower highs. I use this logic to find short term lows or highs and I use the same concept to find mid-term lows or highs but a mid-term high is a short term high surrounded by lower short term highs and a mid-term low is a short term low surrounded by higher short term lows. And of course this means that long term highs or lows use the same logic to find highs or lows that are surrounded by mid-term highs or lows. I would recommend to buy at the long term low points or sell at the long term high points.
Keep in mind of course that short term highs and lows are very common and reversal points will get rarer as you look for longer term reversal points. I would recommend to experiment and see which reversal points work best for you and of course, know that there is no magical formula to use for all stocks.
Also there are a few scenarios where you want to enable or disable the inside bar setting. You would want to ignore inside bars if the market is currently very volatile or if you are using this indicator on a crypto chart. This is not an exact science but more of a recommendation, so feel free to experiment with it.
Reversal points are crucial for traders as they signal a potential change in the market trend, providing opportunities for entry or exit.
In summary, this code snippet is a powerful tool for traders to detect and visualize reversal points on a trading chart, providing valuable insights into potential trend changes and facilitating more informed trading decisions.
Let me know if you would like me to publish other scripts or if you want me to do something custom for you!
Reversaltrading
BBWAS StrategyA breakout in trading refers to a situation where the price of a security or asset moves beyond a defined level of support or resistance, which is typically indicated by technical analysis tools like Bollinger Bands . Bollinger Bands consist of three lines: the upper band, the lower band, and the middle band (or basis). The upper and lower bands are set at a specified number of standard deviations away from the middle band, and they help to define the range within which the price of an asset is expected to fluctuate.
When the price of the asset moves beyond the upper or lower band, it is said to have "broken out" of the range. If the price closes below the lower band, it is considered a bearish breakout, and if it closes above the upper band, it is considered a bullish breakout.
Once a breakout occurs, traders may look for a confirmation signal before entering a trade. In this case, crossing the middle line (or basis) after a breakout may signal a potential trend reversal and a good opportunity to enter a long or short trade, depending on the direction of the breakout.
Overall, this script provides a customizable and flexible system for traders to use Bollinger Bands to identify breakout trades, with additional features to incorporate volume and RSI divergence. The dynamic TPSL system also allows traders to manage their risk and reward by automatically setting take-profit and stop-loss levels based on the volatility of the market.
Dear traders, while we strive to provide you with the best trading tools and resources, we want to remind you to exercise caution and diligence in your investing decisions.
It is important to always do your own research and analysis before making any trades. Remember, the responsibility for your investments ultimately lies with you.
Happy trading!
Bellcurves (Expo)█ Overview
Bellcurves (Expo) indicator helps traders identify potential tops and bottoms, and gauge market impulses. It provides a clear view of the market by filtering out the noise and highlighting only the relevant information. This makes it easier for traders to identify potential market reversals and key support and resistance levels. With Bellcurves, traders can quickly and easily spot important market impulses.
█ How is Bellcurve calculated?
The Bellcurves indicator achieves this by focusing on the distribution of price data, rather than the individual price points themselves. This approach removes the noise from the data and allows traders to see the underlying price moves more clearly.
█ How to use
The unique perspective that Bellcurves offers can be especially useful in highly volatile markets. By providing a clearer view of the market impulses, Bellcurves can help traders stay ahead of market movements and take advantage of potential reversal setups.
Find Reversals
The Bellcurves indicator shows price areas with a higher probability of a market reversal.
Take Profits
The Bellcurves indicator can be used to identify potential exit points. For example, traders can exit their position when the Bellcurve starts to turn.
Impulses
The height of the Bellcurve determines the strength of the price movement. The bigger the Bellcurve, the stronger the price move.
█ Additional Indicator Features
Pre-Bellcurves: This feature highlights when a Bellcurve is about to plot.
Oscillator mode: Traders can choose to display the Bellcurve as an oscillator.
Momentum Impulse: Displays green and red dots when the momentum gets strong.
Divergences: Highlights divergences between strong market impulses.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Triple RSI strategyThis strategy is commonly used both in forex and stock markets for reversal trading. when the rsi line reaches and crosses simultaneously at 3 rsi setups i.e at 7, 14, and 21, a signal is generated.
This strategy works best in 1-hour timeframe. It provides over 60 to 80 percent accuracy in 1-hour timeframe.
In the stock market, this strategy provides an excellent entry point, if one is seeking small profits.
One can expect to make around 10 to 50 pips in the forex market easily. However, I advise seeking support from price action from the lower timeframe in the forex market.
I hope you like it.
Follow for more strategies and scripts like this.
RSI MTF Ob+OsHello Traders,
This indicator use the same concept as my previous indicator "CCI MTF Ob+Os".
It is a simple "Relative Strength Index" ( RSI ) indicator with multi-timeframe (MTF) overbought and oversold level.
It can detect overbought and oversold level up to 5 timeframes, which help traders spot potential reversal point more easily.
There are options to select 1-5 timeframes to detect overbought and oversold.
Aqua Background is "Oversold" , looking for "Long".
Orange Background is "Overbought" , looking for "Short".
Have fun :)
CCI MTF Ob+OsHello Traders,
This is a simple Commodity Channel Index (CCI) indicator with multi-timeframe (MTF) overbought and oversold level.
It can detect overbought and oversold level up to 5 timeframes, which help traders spot potential reversal point more easily.
There are options to select 1-5 timeframes to detect overbought and oversold.
Green Background is "Oversold" , looking for "Long".
Red Background is "Overbought" , looking for "Short".
Have fun :)
Reversal zone finderThis script would find potential reversal price zones according to RSI over bought or sell condition and big reversal candle.
It works better in range markets and lower time frames like 5M and especially in Support/Resistance zones.
Suit for scalping in forex or crypto markets.
* Use it as a trade assistant not a trade signal!
Trend Bounce [racer8]I discovered this mechanical trading system titled "This Algo Strategy Has Only 3 rules and 62% Win Rate".
I coded the trading system on Tradingview...and now I am introducing it to you guys.
I modified the system so that it has both buy & sell signals.
I've tested it repeatedly in different markets on TV including stocks, currency pairs, bitcoin, and commodities...and it works!
A buy signal is generated whenever the current close is below the previous 7-day low and the current close is above the 200 period moving average.
A sell signal is generated whenever the current close is above the previous 7-day high and the current close is below the 200 period moving average.
The system also has a 2-ATR stop loss which I coded.
This system is unique in that it has both trend-following and reversal elements in it.
The system trades short-term reversals while obeying the long-term trend.
Essentially, you are buying the dips of bullish trends! & selling at the peaks of bearish trends!
Enjoy ♡
DBT MoMo v.4 Candle Color VersionThis indicator is the older version of the DBT MoMo v.4 that colors candles instead of using shading.
For a full write up on this indicator please see:
For Access or Questions: Private message us. Thank you.
10X Trading System10X Trading System (Non Repaint)
TradingView Account Needed: Free
Not satisfied with your trading results so far? This may help:
The 10X Trading System helps you identify tops, bottoms and market direction — quickly and accurately.
The strategy behind its accuracy is the fact that it combines price action and multiple market timing algorithms to determine these significant turning points in the markets.
That way, you can be sure you have the best chance to get the best entry and exit points with perfect timing, and hopefully extract more profits from the markets than anybody else.
Once the 10X Trading system has spotted a possible top or bottom, it clearly displays these Buy or Sell alerts on your charts… showing you exactly where this may occur.
You can activate alerts to never miss a signal.
How to use the signals and alerts:
10X Trading System automatically analyze price action and multiple market timing algorithms to give you a signal when there's a good trade.
Works on all markets on all time frames so it's suitable for binary, scalping, day and swing trading.
10X Trading System allow you to get the best entry and exit points with perfect timing.
If you want more details, the link is in the signature.
Disclaimer:
Past performance is not indicative of future performance. No representation is being made that any results discussed within the service and its related media content will be achieved. All opinions, news, research, analyses, prices or other information is provided as general market commentary and not as investment advice. TradingWalk, their members, shareholders, employees, agents, representatives and resellers do not warrant the completeness, accuracy or timeliness of the information supplied, and they shall not be liable for any loss or damages, consequential or otherwise, which may arise from the use or reliance of the TradingWalk service and its content. © 2019 TradingWalk.
TradingWalk indicators are built for TradingView. TradingWalk is on no way a part of TradingView.
