OPEN-SOURCE SCRIPT

HTF Reversals

787
HTF Reversals — Big Turtle Soup & Relief Patterns
A multi-timeframe reversal indicator based on the logic of how pivots form and how true reversals begin. Designed for traders who want to catch high-probability turning points on higher timeframes, with visual clarity and actionable signals.

“Reversals don’t start from nowhere — they begin with a failed expansion and a reclaim of a prior range. This script helps you spot those moments, before the crowd.”


How It Works
  1. Detects High Timeframe (HTF) “CR” Candles:
    The script scans for large-bodied candles (“CR” candles) on higher timeframes (Monthly, Weekly, 3-Day). These candles often mark the end of a trend expansion and the start of a potential reversal zone.
    Looks for “Inside” Candles:
    After a CR candle, the script waits for a smaller “inside” candle, which signals a pause or failed continuation. The relationship between the CR and inside candle is key for identifying a possible reversal setup.
    Engulfing Confirmation (Optional):
    If the inside candle doesn’t immediately trigger a reversal, the script can wait for an engulfing move in the opposite direction, confirming the failed expansion and increasing the probability of a reversal.
    Entry & Target Calculation:
    For each valid setup, the script calculates a retracement entry (using Fibonacci levels like 0.382 or 0.618) and a logical target (usually the CR candle’s high or low).
    Visuals: Lines & Boxes:
    Each signal is marked with a horizontal line (entry) and a colored box extending from the HTF close to the entry price, visually highlighting the reversal zone for the same duration as the signal’s expected play-out.
    Dashboard & Alerts:
    A dashboard table summarizes the latest signals for each timeframe. Custom alerts notify you of new setups in real time.

anlık görüntü
Why It Works
  • Pivot Logic:
    Reversals often start when a strong expansion candle (pivot) is followed by a failed attempt to continue in the same direction. This script codifies that logic, looking for the “pause” after the expansion and the first sign of a reclaim.
    Multi-Timeframe Edge:
    By focusing on higher timeframes, the indicator filters out noise and highlights only the most significant reversal opportunities.
    Objective, Repeatable Rules:
    All conditions are clearly defined and repeatable, removing subjectivity from reversal trading.
    Visual Clarity:
    The combination of lines and boxes makes it easy to see where reversals are likely to start and where your risk/reward lies.

How to Use

  1. Add the indicator to your chart and select your preferred timeframes (Monthly, Weekly, 3-Day).
    Watch for new signals on the dashboard or via alerts.
    Use the entry line and box as your trade zone; the target is also displayed.
    Combine with your own confluence (price action, volume, etc.) for best results.

anlık görüntü
This indicator is best used as a framework for understanding where high-probability reversals are likely to occur, not as a standalone buy/sell tool. Always use proper risk management.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.