KivancOzbilgic

Isolated Peak and Bottom (Tuncer ŞENGÖZ) by KıvanÇ fr3762

This Technique is created by Tuncer Şengöz @TuncerSengoz on twitter


An uptrend with higher highs might not make new highs everyday. So how could we define the end of an uptrend? How could we tell the difference between the end of an uptrend and a temporary correction? This isolated high/low technique aims to help us in this kind of situations.



We call the highest point of an uptrend until the particular day “an isolated Peak” and consider the lowest point of the day before as a signal level. If the signal level is broken in 2 days, we assume the uptrend to be over. If it is not broken in 2 days, the uptrend continues. The same technique also applies to a downtrend and the only difference would be the direction.

conversely it has the same logic of finding an end of a downtrend, called "Isolated Bottom" which can be considered the highest point of the day before as a signal level the same way.



The success rate of this technique is quite high (around 85%). There is no required term for this technique and it can be used in yearly, daily or ticker charts, because the market moves in fractals and repeats itself in every scale.



As in every technique, it might also give false signals in some situations like extreme volatility or emotional decisions of masses. However, it will be very helpful for us to indicate the direction of a trend.







Creator: Tuncer ŞENGÖZ @TuncerSengoz on twitter
Feb 15
Sürüm Notları: formula updated
Favori Komutlardan Çıkart Favori Komutlara Ekle
I have 2 questions here.

1)
Is this a leading indicator?

2)
If the arrow from below is appear a day before the market close, that means, the bullish will be on that tomorrow?
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most useless script i've seen on tradingview.
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How can I set an alarm when different arrows pop-up?
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this script repaint, the signal(arrows) appears 2 bar after, same as all timeframe.
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@migm, because it depends on 2. bar after highest or lowest bar. pls read desc. properly
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@migm, arrow should normaly appear on 2. bar after lowest/highest bar. A bug to fix it ;)
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how can set alert when arrow pops up?
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@migm, Could you figure this out?
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Why do signals appear 1/2 bars after the bar close? It is producing signals with delay. Am I right?
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kıvanç bey merhaba öncelikle bu indikatörde emeği geçenlere teşekkür ederim . sadece anlamadığım ayarlarda arrows renklerindeki 2. renk neiçindir ne işe yarar şimdiden teşekkürler...
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