Flexi MA Reversal

🔹 FlexiMA Reversal – Customizable MA-Based Reversal Indicator
FlexiMA Reversal is a real-time, moving average-based reversal indicator designed to highlight potential market turning points using signal and alert lines. It provides visual cues for both early alerts and confirmed entry signals on candle close.

🔧 Key Features:
Customizable Moving Average Type: Choose from EMA, SMA, WMA, or VWMA (default is EMA).

Flexible MA Inputs: Configure up to three MAs (commonly used 5, 50, and 200).

Toggle Visibility: Enable or disable each MA line as needed.

Real-Time Alert System:

Thin alert lines appear when a potential reversal is detected.

Thicker signal lines confirm the reversal when price closes beyond the alert level.

Optional Visual Styling:

Choose custom colors for each MA, signal, and alert line.

Alert candles are automatically colored to match the corresponding alert line.

Option to show only signal lines for cleaner charts.

Customizable projection length for both alert and signal lines.

📈 Strategy Logic:
This indicator is designed to detect reversal opportunities based on the relationship between price and a selected short-term moving average.

Bullish Setup:

Price closes below the selected MA (e.g., EMA 5).

A bullish alert line is drawn at the high.

If a subsequent candle closes above the alert line and the MA, a bullish signal line is plotted.

Bearish Setup:

Price closes above the selected MA.

A bearish alert line is drawn at the low.

If a subsequent candle closes below the alert line and the MA, a bearish signal line is plotted.

This approach attempts to capture quick market shifts where short-term momentum reverses direction near key MA levels.

🎯 How to Use:
Although originally developed using the 5 EMA strategy, through testing it was found that using 6, 7, or 8 EMA offers even better signal quality.
To add broader trend context, 50 MA and 200 MA lines are included and can be toggled on/off based on your strategy preference.

🔍 Trend Filtering & Re-Entry Tips:
Due to the nature of shorter moving averages, reversal signals may appear frequently. For better trend alignment:

Use the 50 MA as a trend filter:

❌ Ignore bearish signals when price is above 50 MA

❌ Ignore bullish signals when price is below 50 MA

Alternatively, filtered-out signals can be used for re-entry within the trend:

For example, if you receive a bearish alert and signal above the 50 MA, and the next candle closes back above the bearish alert line, this may be interpreted as a bullish re-entry opportunity into the prevailing uptrend.

🛠️ Styling Tips:
You can disable alert candle coloring in the Style tab of the indicator settings.

Use the "Show Only Signal Lines" checkbox to keep the chart minimalistic while still tracking confirmed entries.