EWO Buy Sell Signal with ReversalEWO Buy Sell Signal with Reversal EWO Buy Sell Signal with Reversal EWO Buy Sell Signal with Reversal EWO Buy Sell Signal with Reversal
Komut dosyalarını "reversal" için ara
professor ai reversal day trading-[Cryptovarthagam]Professor AI Reversal Day Trading-
Overview:
Professor Reversal Scalping AI is a sophisticated chart-based trade planning indicator designed to assist intraday and short-term traders in identifying potential reversal breakout setups. This tool combines traditional price action logic with modern filters such as volume confirmation, RSI thresholds, wick rejection detection, and ATR-based risk planning.
It is designed to visually assist traders in planning entries, stop-loss levels, and take-profit zones without making trading decisions or offering financial advice. The indicator also supports webhook-ready alerts for use with external systems.
Purpose:
This indicator helps identify and visualize possible reversal entry opportunities following key price breakouts from support or resistance levels. It does not execute trades and should only be used as an analysis aid. Users are encouraged to combine it with their own strategies, tools, and discretion.
Key Features:
- Support & Resistance Breakout Detection
- Automatically identifies key pivot levels on the chart
- Uses recent volume spikes to confirm meaningful breakout attempts
- Optionally uses pivot-based logic for refined zone detection
- Reversal Entry Planning Logic
- After breakout detection, the indicator validates setups using body/wick structure and volume
- Entry is confirmed only if additional filters are satisfied
- Option to wait for candle close before triggering a setup
- Dynamic ATR-Based SL and TP Planning
- Calculates Stop Loss, Take Profit 1, and optionally Take Profit 2 levels using user-defined ATR multipliers
- Levels are drawn as visual guide lines with accompanying price labels
- Custom Risk Filters
- RSI-based entry filter to block long trades during overbought or short trades during oversold conditions
- Rejection wick filter to avoid entries with excessive wick candles (common in liquidity traps)
- Minimum TP1 reward % and maximum SL risk % filters ensure trade setups meet risk criteria
- PnL Estimation Tool
- Simulates profit/loss estimates for both TP1 and TP2 based on user capital and leverage
- Calculated PnL is shown on the chart per trade setup for reference
- Webhook Alert Support
- Sends JSON-formatted alerts on entry, TP1, TP2, and SL hit events
- Alerts are structured for easy integration with bots, dashboards, or messaging platforms
- Alerts include trade ID, price, SL/TP levels, RSI/wick conditions, and symbol/timeframe
Chart-Based Visualization
- All levels and trade zones are shown directly on the chart
- Entry and exit points are labeled for clarity
Optionally displays TP2 level
User Inputs:
ATR multipliers for SL, TP1, and TP2
Capital and leverage values for PnL estimation
RSI thresholds for long/short trade filtering
Wick rejection toggle and thresholds
Option to enable or disable confirmation on candle close
Support/resistance zone visualization toggle
Best Practices:
For reliable signals, it is recommended to enable “Wait for Bar Close Confirmation” in settings
Use the indicator on shorter timeframes (5m, 15m) for scalping setups
Combine with trend filters or your own confluence tools
Always validate alerts manually before acting on them
Compatibility:
Works with all TradingView assets (crypto, stocks, forex, indices, etc.)
Compatible across all timeframes
Best suited for high-volatility intraday trading
Disclaimer:
This script is intended solely for educational and analytical purposes. It does not provide financial advice or guarantee results. Users are responsible for their own trading decisions and any use of alerts or signals generated by this tool. The developer is not liable for any financial outcomes resulting from its use.
License:
Published under the Mozilla Public License 2.0
All logic is custom-developed by @cryptovarthagam.
You are welcome to use, review, and adapt the code for personal or educational purposes.
WT + Stoch RSI Reversal Combo📊MR.Z RSI : WT + Stochastic RSI Reversal Combo
This custom indicator combines WaveTrend oscillator and Stochastic RSI to detect high-confidence market reversal points, filtering signals so they only appear when both indicators align.
🔍 Core Components:
✅ WaveTrend Oscillator
Based on smoothed deviation from EMA (similar to TCI logic)
Plots:
WT1 (main line)
WT2 (signal line = SMA of WT1)
Uses overbought/oversold thresholds (default: ±53) to filter signals
✅ Stochastic RSI
Momentum oscillator based on RSI's stochastic value
Plots:
%K: smoothed Stoch of RSI
%D: smoothed version of %K
Adjustable oversold/overbought thresholds (default: 20/80)
🔁 Combined Reversal Signal Logic:
🔼 Buy Signal
WT1 crosses above WT2 below WT oversold level (e.g., -53)
%K crosses above %D below Stoch RSI oversold level (e.g., 20)
🔽 Sell Signal
WT1 crosses below WT2 above WT overbought level (e.g., 53)
%K crosses below %D above Stoch RSI overbought level (e.g., 80)
🔔 Signals are only plotted and alerted if both conditions are true.
📌 Features:
Toggle on/off:
WaveTrend lines and histogram
Stochastic RSI
Combined Buy/Sell signals
Horizontal reference lines (±100, OB/OS)
Fully customizable smoothing lengths and thresholds
Signal plots:
✅ Green up-triangle = Combo Buy
✅ Red down-triangle = Combo Sell
Optional: Circle/cross markers for WT-only and Stoch-only signals
🔔 Built-in alerts for Buy/Sell signals
📈 Use Cases:
Reversal Trading: Wait for both indicators to confirm momentum shift
Entry Filter: Use in combination with trend indicators (like EMA)
Scalping or Swing: Works on intraday and higher timeframes
Stochastic Z-Score [AlgoAlpha]🟠 OVERVIEW
This indicator is a custom-built oscillator called the Stochastic Z-Score , which blends a volatility-normalized Z-Score with stochastic principles and smooths it using a Hull Moving Average (HMA). It transforms raw price deviations into a normalized momentum structure, then processes that through a stochastic function to better identify extreme moves. A secondary long-term momentum component is also included using an ALMA smoother. The result is a responsive oscillator that reacts to sharp imbalances while remaining stable in sideways conditions. Colored histograms, dynamic oscillator bands, and reversal labels help users visually assess shifts in momentum and identify potential turning points.
🟠 CONCEPTS
The Z-Score is calculated by comparing price to its mean and dividing by its standard deviation—this normalizes movement and highlights how far current price has stretched from typical values. This Z-Score is then passed through a stochastic function, which further refines the signal into a bounded range for easier interpretation. To reduce noise, a Hull Moving Average is applied. A separate long-term trend filter based on the ALMA of the Z-Score helps determine broader context, filtering out short-term traps. Zones are mapped with thresholds at ±2 and ±2.5 to distinguish regular momentum from extreme exhaustion. The tool is built to adapt across timeframes and assets.
🟠 FEATURES
Z-Score histogram with gradient color to visualize deviation intensity (optional toggle).
Primary oscillator line (smoothed stochastic Z-Score) with adaptive coloring based on momentum direction.
Dynamic bands at ±2 and ±2.5 to represent regular vs extreme momentum zones.
Long-term momentum line (ALMA) with contextual coloring to separate trend phases.
Automatic reversal markers when short-term crosses occur at extremes with supporting long-term momentum.
Built-in alerts for oscillator direction changes, zero-line crosses, overbought/oversold entries, and trend confirmation.
🟠 USAGE
Use this script to track momentum shifts and identify potential reversal areas. When the oscillator is rising and crosses above the previous value—especially from deeply negative zones (below -2)—and the ALMA is also above zero, this suggests bullish reversal conditions. The opposite holds for bearish setups. Reversal labels ("▲" and "▼") appear only when both short- and long-term conditions align. The ±2 and ±2.5 thresholds act as momentum warning zones; values inside are typical trends, while those beyond suggest exhaustion or extremes. Adjust the length input to match the asset’s volatility. Enable the histogram to explore underlying raw Z-Score movements. Alerts can be configured to notify key changes in momentum or zone entries.
WT + Stoch RSI Reversal ComboOverview – WT + Stoch RSI Reversal Combo
This custom TradingView indicator combines WaveTrend (WT) and Stochastic RSI (Stoch RSI) to detect high-probability market reversal zones and generate Buy/Sell signals.
It enhances accuracy by requiring confirmation from both oscillators, helping traders avoid false signals during noisy or weak trends.
🔧 Key Features:
WaveTrend Oscillator with optional Laguerre smoothing.
Stochastic RSI with adjustable smoothing and thresholds.
Buy/Sell combo signals when both indicators agree.
Histogram for WT momentum visualization.
Configurable overbought/oversold levels.
Custom dotted white lines at +100 / -100 levels for reference.
Alerts for buy/sell combo signals.
Toggle visibility for each element (lines, signals, histogram, etc.).
✅ How to Use the Indicator
1. Add to Chart
Paste the full Pine Script code into TradingView's Pine Editor and click "Add to Chart".
2. Understand the Signals
Green Triangle (BUY) – Appears when:
WT1 crosses above WT2 in oversold zone.
Stoch RSI %K crosses above %D in oversold region.
Red Triangle (SELL) – Appears when:
WT1 crosses below WT2 in overbought zone.
Stoch RSI %K crosses below %D in overbought region.
⚠️ A signal only appears when both WT and Stoch RSI agree, increasing reliability.
3. Tune Settings
Open the settings ⚙️ and adjust:
Channel Lengths, smoothing, and thresholds for both indicators.
Enable/disable visibility of:
WT lines
Histogram
Stoch RSI
Horizontal level lines
Combo signals
4. Use with Price Action
Use this indicator in conjunction with support/resistance zones, chart patterns, or trendlines.
Works best on lower timeframes (5m–1h) for scalping or 1h–4h for swing trading.
5. Set Alerts
Set alerts using:
"WT + Stoch RSI Combo BUY Signal"
"WT + Stoch RSI Combo SELL Signal"
This helps you catch setups in real time without watching the chart constantly.
📊 Ideal Use Cases
Reversal trading from extremes
Mean reversion strategies
Timing entries/exits during consolidations
Momentum confirmation for breakouts
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.
🔁 QuantSignals | AI Reversal Signal🔁 QuantSignals | AI Reversal Signal
A Free Visual Indicator That Promotes Better Entries
🧠 Built to help traders spot reversal setups + discover the QuantSignals.ai edge.
🎯 What It Does:
This clean, powerful indicator uses a momentum-based reversal logic (RSI crossovers) to highlight potential turning points in any chart — stocks, indices, crypto, or ETFs. Ideal for new and intermediate traders who want simple Buy/Sell guidance with zero clutter.
⚙️ How It Works:
✅ Buy Signal: Triggered when RSI crosses above oversold (default 30)
✅ Sell Signal: Triggered when RSI crosses below overbought (default 70)
✅ Signal Labels: “QS 🔼” and “QS 🔽” on the chart for easy entries
✅ Promo Overlay: Subtle, non-intrusive labels remind traders to check out QuantSignals.ai
✅ Auto Background Tint: Light green/red shading on signals for instant visual confirmation
🌐 Why QuantSignals?
QuantSignals.ai is a next-gen platform for:
🕓 0DTE trading signals
📅 Post-earnings setups
📉 IV flush fades
💡 AI-backed reversal strategies
Trusted by over 1,000 active traders who want real edge — not noise.
🚀 How to Use:
Add to any chart (works on 1m–1D)
Combine with your support/resistance zones
Use as entry timing tool, not standalone system
Check out real trade ideas at QuantSignals.ai
🔗 Call to Action:
📲 Want real-time setups?
👉 Visit www.QuantSignals.xyz
🧠 Learn the full strategy + join the QS community.
📊 Bonus Use Case:
Use this indicator with S&P500 tech stocks post-earnings
Pair with your own watchlist of high-liquidity names
Perfect for small account traders looking to time better entries
💬 Final Words:
“Not every signal is a trade — but every trade should start with a signal.”
— The QuantSignals Team
3-Bar Compression Reversal Pattern//@version=5
indicator("3-Bar Compression Reversal Pattern", overlay=true)
// Get candle OHLCs
open1 = open
close1 = close
body1 = math.abs(close1 - open1)
open2 = open
close2 = close
body2 = math.abs(close2 - open2)
// 2nd candle body < 50% of 1st
secondSmall = body2 < (0.5 * body1)
// 3rd candle engulfs both 1st and 2nd
lowAll = math.min(low , low )
highAll = math.max(high , high )
engulfAll = (high > highAll) and (low < lowAll)
// Final condition
patternDetected = secondSmall and engulfAll
// Plot signal
plotshape(patternDetected, location=location.belowbar, color=color.green, style=shape.labelup, size=size.small, title="Pattern Signal")
alertcondition(patternDetected, title="3-Bar Reversal Alert", message="3-Bar Compression Reversal Pattern Detected!")
Momentum-Reversal System Signals Pro
Momentum-Reversal System Signals Pro
Overview
A sophisticated signaling system designed to identify high-probability trend-following entries after a price pullback. This indicator is optimized for index futures like the S&P 500 (ES/SPX) on a 5-minute timeframe .
It performs best during periods of established trends and lower volatility. To aid in this, the indicator includes a customizable "No-Trade Zone" highlighter, which is pre-set to the often volatile 8:30 AM - 11:30 AM EST market open. While the default settings are robust and effective in most conditions, the indicator is fully customizable to suit your specific trading style.
How It Works
The core logic is based on a three-step process to filter for high-quality setups:
Trend Confirmation: The script first establishes the overall market direction using an EMA on a higher timeframe (15-minute by default). This ensures you are only looking for trades that align with the dominant trend.
Pullback Detection: Once the trend is confirmed, the script waits for the price to pull back to a dynamic area of value on the main chart (5-minute by default). This "pullback zone" is defined by the 5m EMA and an ATR-based channel around it, which adapts to current market volatility.
Momentum Entry: After a valid pullback occurs, the script waits for a clear sign that momentum is returning in the direction of the primary trend. This is confirmed by a combination of a MACD crossover and a strong RSI reading, signaling that the pullback has likely ended and the trend is ready to resume.
Advanced Quality Filters
What makes this indicator powerful is its multi-layered filtering system designed to weed out low-probability signals and avoid choppy market conditions.
Trend Strength: It doesn't just check the trend direction; it measures the slope of the 15m EMA to ensure the trend has sufficient strength. This is a key filter for avoiding flat, sideways markets.
Momentum Confirmation: An RSI "Dead Zone" around the 50-level ensures that the RSI shows decisive momentum before a signal is generated.
Signal Cooldown: A built-in timer ( Min Bars Between Signals ) prevents the same signal from firing repeatedly in a short period, reducing noise and over-trading.
RSI Volatility: The script checks that the RSI itself is not flat, which is often a sign of market indecision and a precursor to chop.
Pullback Quality: An optional filter ensures that by the time the signal fires, the price has already moved back to the "correct" side of the 5m EMA, confirming the reversal's strength.
Volatility Filter: A crucial risk management filter that blocks signals on abnormally large, high-risk "gasoline" bars that could lead to immediate stops.
How To Use
For Long Signals (Green 'Long' Tag):
Look for the 15m EMA to be green and trending upwards.
Wait for price to pull back towards the orange 5m EMA.
A "Long" signal appears when momentum indicators confirm a reversal back in the direction of the trend.
For Short Signals (Red 'Short' Tag):
Look for the 15m EMA to be red and trending downwards.
Wait for price to pull back towards the orange 5m EMA.
A "Short" signal appears when momentum indicators confirm a reversal back in the direction of the trend.
This tool provides high-probability signals, not guarantees. It is designed to be a core component of a complete trading plan. Always use proper risk management and confluence from your own analysis.
Fine-Tuning & Customization
All settings are fully adjustable in the script's "Inputs" tab to match your risk tolerance and market conditions.
Timeframe & EMA Settings: Adjust the core moving averages that define the trend and pullback zones.
Pullback Settings: Define what constitutes a valid pullback by adjusting the lookback period and the size of the ATR-based "near" zone.
Quality Filters: This is the most important section for tailoring the script's strictness. Increase the EMA Slope, RSI Dead Zone, or Signal Cooldown to receive fewer but potentially higher-quality signals.
Advanced Filters: Enable or disable the Pullback Quality and Volatility filters for an extra layer of confirmation or risk management.
No-Trade Zone Highlighter: Adjust the session and timezone to highlight periods you wish to avoid, such as news events or low-liquidity hours.
Happy trading, and please use this tool responsibly.
Flexible Reversal DetectorFlexible Reversal Detector
An advanced, fully customizable analytical tool designed to identify local trend reversal zones based on candlestick formations. Users have full control over all logic parameters, making it adaptable to different trading styles and preferences.
Key Features
Adjustable maximum pattern length (number of candles)
Customizable body size ratios for initial, middle, and final candles
Configurable minimum price movement (in %) required before a pattern is considered valid
Colored horizontal lines showing the full length of the pattern – helpful in identifying structure, potential support/resistance zones
Optional volume filter – the volume of the final candle is compared to a volume SMA; multiplier can be adjusted (e.g. 1 = equal to average, 0.8 = 80% of average)
Logic Overview
U Pattern
Each bearish candle is treated as a potential start of a reversal pattern.
Subsequent candles, if small enough and within defined thresholds, form the middle part of the structure.
When a bullish candle with a sufficiently large body appears, it is marked as the final candle of the pattern.
The pattern is considered valid if it was preceded by a defined percentage price drop and – optionally – if the volume condition was met.
∩ Pattern
Each bullish candle may act as the initial candle of a potential reversal pattern in the opposite direction.
Following smaller candles form the middle part, as long as they meet the defined criteria.
The appearance of a strong bearish candle marks the end of the formation.
If this pattern is preceded by a certain price increase (and optionally meets the volume filter), it is highlighted on the chart.
Note: On markets with low volatility or on lower timeframes, it is recommended to reduce the percentage thresholds for signal detection. For more dynamic price action or higher timeframes, consider increasing them accordingly.
Visualization
The final candle of the pattern is marked visually on the chart (depending on direction)
Colored horizontal lines indicate the full span of the pattern – from initial to final candle
Lucy – 3-Bar Reversal with EMA50 Trend Filter📛 Lucy – 3-Bar Reversal with EMA50 Trend Filter
Purpose:
To detect and highlight bullish and bearish 3-bar reversal patterns on the chart, but only when they align with the dominant trend, defined by the EMA 50.
✅ How It Works
🟢 Bullish 3-Bar Reversal (Buy Setup):
Bar 1 is bearish (close < open)
Bar 2 makes a lower low than Bar 1
Bar 3 is bullish (close > open) and closes above Bar 2’s high
Price must be above EMA 50 (trend filter)
✅ Result: Shows a green triangle below the bar
🔴 Bearish 3-Bar Reversal (Sell Setup):
Bar 1 is bullish (close > open)
Bar 2 makes a higher high than Bar 1
Bar 3 is bearish (close < open) and closes below Bar 2’s low
Price must be below EMA 50
✅ Result: Shows a red triangle above the bar
📊 What It Plots:
🔼 Green triangle below bullish signal bar
🔽 Red triangle above bearish signal bar
🟠 Orange line = EMA50 (trend filter)
🔔 Built-in Alerts:
You’ll get an alert if:
A bullish reversal pattern forms above EMA50
A bearish reversal pattern forms below EMA50
🧠 Use Cases:
Great for trend-following traders who want clean, price-action entries
Works well on intraday (15m/1h) or swing (4h/daily) timeframes
Can be used for manual entries, or converted to strategy for automation
Asia Session Reversal Strategy GOLD (Full Version)📈 Asia Session Reversal Strategy (Gold/XAUUSD)
This indicator identifies high-probability reversal trades during the second hour of the Asia session (01:00–02:00 UTC) based on 30-minute candle bias. It:
Detects initial directional push and signals reversal trades on the 1-minute chart
Plots entry, stop-loss, and take-profit levels using a 3:1 reward-to-risk ratio
Includes real-time PnL tracking, daily auto-reset, and alert notifications for BUY/SELL setups
Ideal for scalpers and intraday traders focusing on Gold during consistent, high-liquidity session windows.
Future Candle Reversal Projection (Mastersinnifty)Overview
This tool identifies potential future market reversal zones by dynamically projecting pivot-based swing patterns forward in time. Unlike traditional ZigZag indicators that only reflect past movements, this indicator anticipates probable future turning points based on historical swing periodicity.
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Key Features
- Forward Projections: Calculates and projects future swing zones based on detected pivot distances.
- Customizable Detection: Adjust the ZigZag depth for different trading styles (scalping, swing, position).
- Dynamic Updates: Real-time recalibration as new pivots form.
- Clean Visual Markers: Projects reversal estimates as intuitive labels and dotted lines.
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How it Works
The indicator identifies significant swing highs and lows using a user-defined ZigZag depth setting. It measures the time (bars) and price characteristics of the latest swing movement. Using this pattern, it projects forward estimated reversal points at consistent intervals. Midpoint price levels between the last high and low are used for each future projection.
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Who Can Benefit
- Intraday and swing traders seeking advanced planning zones.
- Technical analysts relying on pattern periodicity.
- Traders who wish to combine projected reversal markers with their own risk management strategies.
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Disclaimer
This tool is an analytical and educational utility. It does not predict markets with certainty. Always combine it with your own analysis and risk management. Past behavior does not guarantee future results.
Red & Green Zone ReversalOverview
The “Red & Green Zone Reversal” indicator is designed to visually highlight potential reversal zones on your chart by using a combination of Bollinger Bands and the Relative Strength Index (RSI).
It overlays on the chart and provides background color cues—red for oversold conditions and green for overbought conditions—along with corresponding alert triggers.
Key Components
Overlay: The indicator is set to overlay the chart, meaning its visual cues (colored backgrounds) are drawn directly on the price chart.
Bollinger Bands Calculation
Period: A 20-period simple moving average (SMA) is calculated from the closing prices.
Standard Deviation Multiplier: A multiplier of 2.0 is applied.
Bands Defined:
Basis: The 20-period SMA.
Deviation: Calculated as 2 times the standard deviation over the same period.
Upper Band: Basis plus the deviation.
Lower Band: Basis minus the deviation.
RSI Calculation
Period: The RSI is computed over a 14-period span using the closing prices.
Thresholds:
Oversold Threshold: 30 (used for the red zone condition).
Overbought Threshold: 70 (used for the green zone condition).
Zone Conditions
Red Zone (Oversold):
Criteria: The price is below the lower Bollinger Band and the RSI is below 30.
Purpose: Highlights a situation where the asset may be deeply oversold, signaling a potential reversal to the upside.
Green Zone (Overbought):
Criteria: The price is above the upper Bollinger Band and the RSI is above 70.
Purpose: Indicates that the asset may be overbought, potentially signaling a reversal to the downside.
Visual and Alert Components
Background Coloring:
Red Background: Applied when the red zone condition is met (using a semi-transparent red).
Green Background: Applied when the green zone condition is met (using a semi-transparent green).
Alerts:
Red Alert: An alert condition titled “Deep Oversold Alert” is triggered with the message “Deep Oversold Signal triggered!” when the red zone criteria are satisfied.
Green Alert: Similarly, an alert condition titled “Deep Overbought Alert” is triggered with the message “Deep Overbought Signal triggered!” when the green zone criteria are met.
Important Disclaimers
Not Financial Advice:
This indicator is provided for informational and analytical purposes only. It does not constitute trading advice or a recommendation to buy or sell any asset. Traders should use it as one of several tools in their analysis and should perform their own due diligence.
Risk Management:
Trading inherently involves risk. Past performance is not indicative of future results. Always implement appropriate risk management and use stop losses where necessary.
Summary
In summary, the “Red & Green Zone Reversal” indicator uses Bollinger Bands and RSI to detect extreme market conditions. It visually marks oversold (red) and overbought (green) conditions directly on the chart and offers alert conditions to help traders monitor these potential reversal points.
Enjoy!!
FVG Reversal Sentinel🔵 FVG Reversal Sentinel – Multi-Timeframe Fair Value Gap Indicator
The FVG Reversal Sentinel is a powerful TradingView indicator designed to help traders identify and track Fair Value Gaps (FVGs) across multiple timeframes, all within a single chart.
This tool allows you to select up to five separate timeframes, ensuring you never miss key market shifts, whether you are scalping, day trading, or swing trading. You can use this indicator in any asset (Cryptos, Futures, Indices, Forex Pairs, etc.).
🔵 - Key Features -
Multi-Timeframe FVG Tracking – Select and display up to five different timeframes on one chart, providing a comprehensive view of market structure.
Customizable Colors – Adjust bullish and bearish FVG colors to match your chart theme for a seamless trading experience.
Enhanced Market Context – Quickly identify key liquidity zones and refine your entries and exits with precision.
Hide the lower timeframes FVGs to get a clear view in a custom timeframe.
Show or hide mitigated FVGs to declutter the chart.
FVGs boxes are going to be displayed only when the candle bar closes
FVGs are going to be mitigated only when the body of the candle closes above or below the FVG area.
No repainting
Whether you're looking to fine-tune your entries or gain a broader market perspective, the FVG Reversal Sentinel indicator ensures you have the tools to stay ahead of price action and capitalize on market inefficiencies.
🔵 - Customization-
You can change the indicator settings as you see fit to achieve the best results for your use case.
TIMEFRAMES
This indicator provides the ability to select up to 5 timeframes. These timeframes are based on the trader's timeframes including any custom timeframes.
Select the desired timeframe from the options list.
Add the label text you would like to show for the selected timeframe.
Check or uncheck the box to display or hide the timeframe from your chart.
FVG SETTINGS
Length of boxes: allows you to select the length of the box that is going to be displayed for the FVGs.
Delete boxes after fill?: allows you to show or hide mitigated FVGs on your chart.
Hide FVGs lower than enabled timeframes?: allows you to show or hide lower timeframe FVGs on your chart. Example - You are in a 15 minutes timeframe chart, if you choose to hide lower timeframe FVGs you will not be able to see 5 minutes FVG defined in your Timeframes Settings, only 15 minutes or higher timeframe FVGs will be displayed on your chart.
BOX VISUALS
Bullish FVG box color: the color and opacity of the box for the bullish FVGs.
Bearish FVG box color: the color and opacity of the box for the bearish FVGs.
LABELS VISUALS
Bullish FVG labels color: the color for bullish labels.
Bearish FVG labels color: the color for bearish labels.
Labels size: the size of the text displayed in the labels.
Labels position: the position of the label inside the FVGs boxes (right, left or center).
BORDER VISUALS
Border width: the width of the border (the thickness).
Bullish FVG border color: the color and the opacity of the bullish box border.
Bearish FVG border color: the color and the opacity of the bearish box border.
🔵 - How to use the indicator -
Just add the indicator in your chart and click in the settings option to customize it.
Make sure you select the desired timeframes and set the colors and opacity for the FVGs boxes.
This indicator can be used in many trading strategies, such as:
SILVER BULLET
iFVG
iFVG RETEST
These strategies are based on the use of FVGs, this tool can help you analyze the market and make the right decision.
🔵 - How was the indicator designed? -
I have spent a lot of time testing other open source indicators from the community. All of these indicators do a great job, but they have a problem, they not only mitigate FVGs when a candle closes above or below the FVG, they also mitigate FVGs when the candle closes exactly to the tick (not above or below the FVG). This is a problem for many strategies that rely on FVGs mitigation.
What makes this indicator different is that it focuses on just mitigating imbalances at the right time for these strategies.
I have taken ideas and some pieces of code from many community indicator developers, such as:
@twingall
@tflab
@marktools
@nacho-fx
@pmk07
... and many other people, to whom I thank for their valuable work and have allowed me to create this tool by making modifications to their source code.
🔵 - Disclaimer -
This tool is intended solely for informational and educational purposes and should not be regarded as financial, investment, or trading advice. It's not designed to predict market movements or offer specific recommendations. Users should be aware that past performance is not indicative of future results and should not rely on any indicator for financial decisions.
5-0 Harmonic Pattern [TradingFinder] 0XABCD 50 Harmonic Detector🔵 Introduction
Harmonic patterns are a powerful tool in technical analysis, widely used to detect reversal points and trend changes. Among these, the 5-0 Harmonic Pattern stands out due to its reliance on specific Fibonacci ratios—1.13, 1.618, 2.24, and 0.45 to 0.55—anchored at points 0, X, A, B, C, and D. This pattern provides a structured approach for identifying critical buy and sell points, helping traders achieve optimal entry and exit levels in volatile markets.
This 5-0 Harmonic Pattern indicator automatically detects and marks bullish and bearish formations on the chart, offering precise trading signals based on established harmonic ratios. With its dynamic signals, the 5-0 pattern enables traders to anticipate market movements and capitalize on favorable price trends.
Especially in fast-moving markets, harmonic patterns, particularly the 5-0 Harmonic Pattern, equip traders with an essential framework for identifying reversal opportunities and refining their trading strategies.
Bullish 5-0 Pattern :
Bearish 5-0 Pattern :
🔵 How to Use
The 5-0 Harmonic Pattern indicator is designed to automatically mark the key levels of the harmonic structure: 0, X, A, B, C, and D. By doing so, it detects both bullish and bearish patterns and helps traders recognize optimal entry and exit points.
Formed through specific Fibonacci levels, this pattern signals potential shifts in trend direction, giving traders critical insights for managing entries and exits effectively. The tool proves valuable in high-volatility settings, enabling traders to leverage these signals for refined decision-making.
🟣 Bullish 5-0 Pattern
A bullish 5-0 pattern materializes when Fibonacci levels indicate a potential price reversal to the upside. With points 0, X, A, B, C, and D in alignment, the indicator highlights this upward momentum by displaying a green arrow as a buy signal on the chart. This marking provides a clear entry point, indicating that prices are likely to rise, making it a prime moment for traders to enter long positions.
Additionally, the bullish 5-0 pattern is equipped with tools for traders to set stop-loss and take-profit points based on harmonic lines within the pattern, which represent support and resistance levels. Using these dynamic points, traders can create a more effective risk-reward setup while following the bullish signals in a standalone harmonic strategy.
🟣 Bearish 5-0 Pattern
The bearish 5-0 pattern functions similarly but signals a likely downturn. This pattern emerges when Fibonacci ratios align at points 0, X, A, B, C, and D, predicting a reversal downward. The indicator generates a sell signal, marked by a red arrow, prompting traders to exit long positions or initiate short trades to capitalize on falling prices.
Traders can utilize this bearish pattern for defining exit strategies and setting key levels for stop-loss and take-profit orders. The bearish 5-0 pattern enhances traders’ abilities to gauge critical price levels and manage trade risk effectively, especially in volatile markets. For traders focused on profiting from downward trends, this indicator serves as a powerful tool for timely entries and exits.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Conclusion
The 5-0 Harmonic Pattern indicator serves as a robust solution for technical analysts and traders looking to pinpoint market reversal points. By automatically recognizing 5-0 patterns and generating buy and sell signals based on Fibonacci ratios, this tool supports precise trend analysis and entry/exit timing. The indicator’s adjustable alerts, color themes, and pattern toggles allow for comprehensive customization, ensuring alignment with individual trading strategies.
Harmonic patterns, especially the 5-0 Harmonic Pattern, guide traders in identifying high-accuracy entry and exit points, thus aiding in more informed trading decisions. By combining Fibonacci ratio analysis with real-time signal updates, this indicator provides a well-rounded approach for risk management and capitalizing on trading opportunities. Professional traders can harness this tool to enhance technical analysis precision and capitalize on price trends effectively, maximizing profitability in both bullish and bearish markets.
Smart Signals Assistant [AlgoAlpha]🟠 OVERVIEW
The Smart Signals Assistant is a comprehensive, all-in-one trading toolkit designed to provide a complete analytical framework on your chart. It is built around a primary signal engine that generates trend and reversal signals, enhanced by a suite of five optional "confluence" indicators that provide deeper market context.
This script is highly modular, allowing you to build a personalized dashboard. You can use the main signals for entries, add a machine-learning classifier to check if the market is trending, overlay dynamic support/resistance clouds, and manage your trades with on-chart take-profit and stop-loss levels. The system is tied together with a powerful, multi-step alert builder that lets you create custom alert conditions from any combination of the script's components.
🟠 CONCEPTS
This indicator is a collection of several distinct systems working together. The combination is designed to allow traders to build a complete strategy—from signal generation to confirmation and trade management—within a single tool. Here are the core concepts behind them:
Smart Signals Engine: This is the heart of the indicator and operates as a hybrid with two distinct modes. The "Swing" mode uses a proprietary model that analyzes price stability and volatility to identify stable, longer-term trends. The "Scalping" mode uses a more responsive machine-laerning trend system that dynamically adapts its parameters based on learned market 'states' to real-time changes in market conditions, making it better suited for faster, lower-timeframe movements.
Fair Value Trail (FVT): This is not a simple moving average. It's a volatility-based trail that helps identify dynamic zones of support and resistance. The concept is to track a "fair value" price, derived by analyzing price levels with significant volume activity, providing logical areas for entries or trailing stop-loss adjustments.
Trend Spine: This component calculates a core trend backbone. Its purpose is to cut through short-term noise and provide a clearer, more stable view of the underlying primary trend direction by filtering out price action during periods of low directional momentum.
Trend Bias: This is a band that measures the strength and weakness of the current price momentum. It visualizes whether bullish or bearish pressure is accelerating or decelerating by comparing recent momentum to its historical average, which is useful for confirming the conviction behind a move.
Firmament Clouds: These are dynamic zones plotted on the chart that act as potential areas of support and resistance. Unlike static lines, these clouds expand and contract based on market volatility, providing an adaptive view of key price zones where the market may be overextended.
Trend-Range Classifier (TRC): This is a machine learning model that analyzes multiple market characteristics (like volatility and momentum patterns) in real-time. It classifies the current market environment as either "trending" or "ranging," helping you decide which strategy to apply and filter signals that are inappropriate for the current conditions.
🟠 FEATURES
Trend & Reversal Signals: Configure the main engine to provide either trend-following signals or potential counter-trend reversal signals. Signals are categorized as "Normal" or "Strong" to indicate conviction.
Advanced Candle Coloring: Choose from multiple candle coloring modes, including static trend colors, a color gradient based on momentum, or a gradient based on volume. Also includes an option to highlight ranging markets with gray candles.
Automated Trade Management: Enable on-chart Take-Profit and Stop-Loss levels that are automatically calculated when a signal appears. These are visualized with colored risk/reward zones.
Component Status Table: A customizable on-chart dashboard that shows the live status, direction, and signal duration for every active component, giving you a complete overview at a glance.
Powerful Multi-Step Alert System: Build highly specific, custom alerts. You can combine dozens of built-in conditions from all components using AND/OR logic across a sequence of up to 7 steps.
External Alert Integration: The alert system can incorporate up to five external sources, allowing you to mix conditions from this script with your other favorite indicators.
🟠 USAGE
This script is designed to be adapted to your personal trading style by combining components to build a complete strategy. The synergy between the components is key to its usefulness. Here is a general workflow:
Initial Configuration: Start by enabling the core "Smart Signals" in the settings. Choose your preferred "Smart Signals Mode" (Swing or Scalping) and "Signal Mode" (Trend or Reversal) based on your strategy and timeframe.
Adding Confluence for Reliability: To increase the reliability of signals, enable one or more confluence tools. For example, a trend trader can enable the "Trend-Range Classifier" and decide to only consider signals that appear when the market is classified as "Trending." You could further enhance this by also enabling the "Fair Value Trail" and only taking buy signals that occur near or above the trail. This demonstrates how combining components filters for higher-quality setups.
Reading the Visuals: A standard "▲" or "▼" represents a normal signal, while a "+▲" or "+▼" indicates a strong signal with higher conviction. Use the candle colors to gauge the momentum within the trend.
Managing Trades: If you enable "Take-Profit Levels" and "Stop-Loss Level," the script will automatically plot these on your chart when a signal appears. This can help you pre-plan your risk and potential targets. The exit signals ("x") can be used as a suggestion for taking partial or full profits.
Setting Up Custom Alerts for High-Probability Setups: For a high-probability setup, navigate to the "Alerts" tab. You can create a sequence that combines multiple components to fire only on your ideal conditions. For instance:
Step 1: "Smart Signals Strong Bullish Signal "
Step 2: "Market Is Trending " AND "FVT In Bullish Trend "
This alert would only trigger when a strong buy signal occurs while the TRC confirms a trend and the price is in a favorable position relative to the Fair Value Trail, effectively filtering out lower-quality signals by demanding agreement between multiple, conceptually different components.
Shark Harmonic Pattern [TradingFinder] Shark Detector Indicator🔵 Introduction
The Shark harmonic pattern, first introduced by Scott Carney in 2011, is a recognized tool in technical analysis. Since its inception, it has been widely adopted by traders as an essential market analysis tool.
Due to its complexity, the Shark pattern can be challenging for novice traders. Therefore, we have developed the Harmonic Pattern Indicator to help analysts and traders easily identify these patterns.
🟣 Understanding the Types of Shark Pattern
In technical analysis, the Shark harmonic pattern forms at the end of trends and is categorized into two types: Bullish and Bearish Shark Patterns.
Bullish Shark Pattern : This pattern appears at the end of a downtrend, indicating a potential reversal to an uptrend. Traders can use this pattern to identify buy entry points. The image below illustrates the core components of the Bullish Shark Pattern.
Bearish Shark Pattern : Conversely, the Bearish Shark Pattern forms at the end of an uptrend, signaling a possible reversal to a downtrend. This pattern prompts traders to shift their positions from buying to selling. The image below showcases the characteristics of the Bearish Shark Pattern.
🔵 How to Use
🟣 Trading with the Bullish Shark Pattern
The Bullish Shark Pattern acts as a reversal pattern, helping traders identify the end of a downtrend and the beginning of an uptrend. It consists of five key points that indicate alternating bullish and bearish movements.
Upon the complete formation of this pattern, traders can look for opportunities to enter buy trades. To manage risk effectively, it is advisable to set a stop-loss below the lowest price point within the pattern.
🟣 Trading with the Bearish Shark Pattern
Similarly, the Bearish Shark Pattern functions as a reversal pattern but in the opposite direction. It helps traders identify the end of an uptrend and the onset of a downtrend.
After the pattern fully forms, traders can seek sell entry opportunities. As with the bullish pattern, placing a stop-loss above the highest price point within the pattern is recommended for risk management.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Format : If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Shark harmonic pattern is a potent analytical tool in technical analysis that aids traders in identifying critical reversal points in financial markets. Whether in a bullish or bearish context, this pattern provides clear trend change signals, allowing traders to enter trades with greater precision and optimize their strategies.
However, as with all analytical methods, it is essential to supplement the Shark pattern with additional analyses and strict risk management to avoid potential losses. Incorporating this pattern into a comprehensive trading strategy can lead to better trade outcomes and more opportunities for success
Multiple Divergences [UAlgo]🔶 Description:
"Multiple Divergences " is providing insights into potential divergences across multiple indicators. Divergence, a concept in technical analysis, occurs when the price of an asset diverges from the direction of an accompanying indicator, suggesting a possible reversal or continuation in the price trend.
🔶 Key Features:
Customizable Divergence Settings: Users can adjust parameters such as the minimum number of divergences required to display labels, pivot lookback periods, and plot options for various types of divergences (regular or hidden) and bullish/bearish labels.
Multiple Technical Indicators: The script supports a wide range of popular indicators, including MACD, RSI, Stochastic, CCI, Momentum, OBV, DMI Oscillator, VWmacd, Chaikin Money Flow, Money Flow Index, and Awesome Oscillator. You can choose any of the above-mentioned technical indicators for which you want to capture divergences.
🔶 Purpose of Using Multiple Technical Indicators
In the complex and volatile world of trading, relying on a single indicator can provide an incomplete or misleading picture of market conditions. Different technical indicators analyze various aspects of price movement, volume, and momentum, offering unique insights that can complement each other. By utilizing multiple indicators, traders can cross-verify signals, reduce false positives, and increase the reliability of their trading decisions.
Identifying divergences across multiple indicators further enhances this reliability, as a divergence spotted in several indicators simultaneously is a stronger signal than one found in isolation. This comprehensive approach helps traders to anticipate potential market turning points with greater confidence and precision.
By integrating multiple technical indicators and meticulously tracking their divergences, this script aims traders with a robust tool for navigating the complexities of financial markets.
🔶 How to Obtain Divergences
Regular Bullish Divergence:
This occurs when the price makes a new lower low compared to a previous pivot low, indicating a downward trend. Simultaneously, the selected oscillator makes a higher low compared to its previous pivot low, indicating a potential upward momentum. This divergence suggests that, despite the falling price, the underlying momentum is strengthening, potentially signaling a reversal to an upward trend.
Regular Bearish Divergence:
This happens when the price makes a new higher high compared to a previous pivot high, indicating an upward trend. Concurrently, the selected oscillator makes a lower high compared to its previous pivot high, indicating weakening momentum. This divergence suggests that, despite the rising price, the underlying momentum is weakening, potentially signaling a reversal to a downward trend.
Example for Regular Bullish and Regular Bearish Divergences (Minimum Divergenes Count to Display = 3, All Selected):
Hidden Bullish Divergence:
Hidden bullish divergence is observed when the price makes a higher low compared to a previous pivot low, indicating an upward trend. At the same time, the oscillator makes a lower low compared to its previous pivot low, indicating a potential strengthening momentum. This condition suggests that the underlying strength of the upward trend is intact, despite the oscillator indicating otherwise.
Hidden Bearish Divergence:
This occurs when the price makes a lower high compared to a previous pivot high, indicating a downward trend. Simultaneously, the oscillator makes a higher high compared to its previous pivot high, indicating a potential weakening momentum. This divergence suggests that the underlying weakness of the downward trend is intact, despite the oscillator indicating otherwise.
Divergence Labeling: The script dynamically generates labels on the chart to visually highlight detected divergences based on user-defined criteria. (E.g. "5 Regular Bullish Divs." , "1 Hidden Bearish Div")
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Bearish 3 Bars Reversal PatternThis TradingView Pine Script indicator identifies and highlights a bearish 3-bar reversal pattern on your chart. The script also calculates the percentage difference between the current low and the previous high, displaying this value on the chart when the pattern is detected.
Features:
Pattern Detection:
The script detects a bearish 3-bar reversal pattern when the high of the previous bar is higher than the high of the bar before it, and the current high is lower than the previous high.
Percentage Difference Calculation:
When the pattern is detected, the script calculates the percentage difference between the current low and the previous high. This percentage is displayed on the chart.
Visual Indicators:
When a bearish 3-bar reversal pattern is detected, a label is created on the chart showing the calculated percentage difference. The label is styled with a downward arrow, red color, and white text for clear visibility.
Alerts:
An alert condition is set up to notify users when the bearish 3-bar reversal pattern is detected. This allows traders to take timely action based on the pattern.
Bullish 3 Bars Reversal PatternThis TradingView Pine Script indicator identifies and highlights a bullish 3-bar reversal pattern on your chart. The script also calculates the percentage difference between the current high and the previous low, displaying this value on the chart when the pattern is detected.
Features:
Pattern Detection:
The script detects a bullish 3-bar reversal pattern when the low of the previous bar is lower than the low of the bar before it, and the current low is higher than the previous low.
Percentage Difference Calculation:
When the pattern is detected, the script calculates the percentage difference between the current high and the previous low. This percentage is displayed on the chart.
Visual Indicators:
When a bullish 3-bar reversal pattern is detected, a label is created on the chart showing the calculated percentage difference. The label is styled with an upward arrow, green color, and white text for clear visibility.
Alerts:
An alert condition is set up to notify users when the bullish 3-bar reversal pattern is detected. This allows traders to take timely action based on the pattern.
TradeTale Reversal Cluster ▲▼This script explains how an Oscillator along with Moving Average & Deviation can be used to catch "Reversal Points (Highest points above Overbought & Lowest points below Oversold)".
What is an Oscillator:-
An oscillator is a technical analysis tool that constructs high and low bands between two extreme values and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions. An oscillator with MA & Deviation is used along with minor calculations (maths) in this Oscillator for generating Long (Green Triangles) and Short signals (Red Triangles).
Moving Average (MA):-
A moving average (MA) is used in technical analysis, used to help smooth out price data by creating a constantly updated average price. A rising moving average indicates that the security is in an uptrend, while a declining moving average indicates a downtrend.
Standard Deviation:-
It is a statistical measure of the amount of variation or dispersion in a set of values. It is used to measure the volatility of an asset's price. It is used to measure how much the price varies from its average price over a certain period of time. A higher standard deviation indicates that the prices are more spread out from the mean, suggesting higher volatility, while a lower standard deviation indicates more stable prices.
Calculation of Standard Deviation
- Find the average value of the data set.
- Find the difference between each data point and the mean.
- Square each of these differences.
- Find the average of the squared differences.
- Take the square root of the variance.
Logic of this indicator:-
This indicator calculates the average price using the formula (high + low + close * 2)/4.
Moving Average & its standard deviation is calculated over a period of 5.
It calculates an oscillator value using a special formula which includes MA & Deviation with Price Action over a period of 5. after that :-
- It determines the highest points for Bearish Red Triangles (Bearish Reversal) and
- It also determines the lowest points for Bullish Green Triangle (Bullish Reversal).
These Triangle signals are based on the calculations of the oscillator values and their MAs & Deviation, and they aim to identify potential reversal points in the price action, when goes above (Bearish Reversal) and when goes below (Bullish Reversal). An oscillator that fluctuates between zero and 100 makes it easy to use for many traders. Its easy to identify extremes because an Oscillator is range-bound.
"Green Triangles" signal in is Long Signal and also exit Short signal. (Bullish Entry/Bearish Exit)
"Red Triangles" signal is Short Signal and also exit Long signal. (Bearish Entry/Bullish Exit)
Caution:-
But remember that Oscillators works best in range bound market and is less trustworthy in trending markets. (caution)
A new trader need to be cautious because during strong trends in the market/security, An oscillator may remain in overbought or oversold condition for extended periods.
Chart Timeframe:-
This Indicator works on all timeframes.
Traders should set stop loss and take profit levels as per risk reward ratio.
Note:-
Like other technical indicators, This indicator also is not a holy grail. It can only assist you in building a good strategy. You can only succeed with proper position sizing, risk management and following correct trading Psychology (No overtrade, No greed, No revenge trade etc).
THIS INDICATOR IS FOR EDUCATIONAL PURPOSE AND PAPER TRADING ONLY. YOU MAY PAPER TRADE TO GAIN CONFIDENCE AND BUILD FURTHER ON THESE. PLEASE CONSULT YOUR FINANCIAL ADVISOR BEFORE INVESTING. WE ARE NOT SEBI REGISTERED.
Hope you all like it
happy learning.
TradeTale Reversal Alert 🚀This script explains how RSI Oscillator along with Bollinger Bands & Moving Average can be used to catch "Reversal Points".
What is an Oscillator:-
An oscillator is a technical analysis tool that constructs high and low bands between two extreme values and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions. RSI with MA is used along with minor calculations (maths) in this Oscillator for generating Long and Short signals.
RSI:-
RSI is a momentum oscillator which measures the speed and change of price movements. RSI moves up and down (oscillates) between ZERO and 100. Generally RSI above 70 is considered overbought and below 30 is considered oversold. Some traders may use a setting of 20 and 80 for oversold and overbought conditions respectively. Some traders may use a setting of 10 and 90 for oversold and overbought conditions respectively. However this may reduce the number of signals. 10 to 30 is shown as bullish zone and 70 to 90 is shown as bearish zone in this Oscillator.
Calculation:-
There are three basic components in the RSI - Avg Gain, Avg Loss & RS.
Avg Gain = Average of Upward Price Change
Avg Loss = Average of Downward Price Change
RS = (Avg Gain)/(Avg Loss)
RSI = 100 – (100 / (1 +RS ))
First Calculation:-
RSI calculation is based on default 14 periods.
Average gain and Average loss are simple 14 period averages.
Average Loss equals the sum of the losses divided by 14 for the first calculation.
Average Gain equals the sum of the Gains divided by 14 for the first calculation.
First Average Gain = Sum of Gains over the past 14 periods / 14.
First Average Loss = Sum of Losses over the past 14 periods / 14.
The formula uses a positive value for the average loss.
RS values are smoothed after the first calculation.
Second Calculation:-
Subsequent calculations multiply the prior value by 13, add the most recent value, and divide the total by 14.
Average Gain = / 14.
Average Loss = / 14.
if
Average Loss = 0, RSI = 100 (means there were no losses to measure).
Average Gain = 0, RSI = 0 (means there were no gains to measure).
Moving Average (MA):-
A moving average (MA) is used in technical analysis, used to help smooth out price data by creating a constantly updated average price. A rising moving average indicates that the security is in an uptrend, while a declining moving average indicates a downtrend.
Bollinger Bands (BB):–
It is consists of a Moving Average line and two standard deviation lines that are plotted above and below the moving average line. The moving average periods & standard deviation can be adjust according to the preference. Bollinger Bands help traders to identify the volatility and potential price range of security.
Logic of this indicator:-
RSI is an oscillator that fluctuates between zero and 100 which makes it easy to use for many traders. Its easy to identify extremes because RSI is range-bound.
Bollinger Band Upper and Lower Bands are used to identify Overbought & Oversold points Respectively. Price crossover of these Upper & Lower Bands used to calculate Reversal Points.
BB, RSI and MA calculations along with maths is used to generate signals.
Rocket signal in is Long Signal and also exit Short signal. (Bullish Entry/Exit)
Bear signal is Short Signal and also exit Long signal. (Bearish Entry/Exit)
But remember that RSI works best in range bound market and is less trustworthy in trending markets. (caution)
A new trader need to be cautious because during strong trends in the market/security, RSI may remain in overbought (70 to 90) or oversold (10 to 30) for extended periods.
Also Bollinger Bands here are used to calculate range reversal, So is less trustworthy in trending markets. (caution)
Chart Timeframe:-
This Indicator works on all timeframes.
Traders should set stop loss and take profit levels as per risk reward ratio.
Note:
Don't confuse RSI and relative strength. RSI is changes in the price momentum of a security.
whereas relative strength compares the price performance of two or more securities.
Like other technical indicators, This indicator also is not a holy grail. It can only assist you in building a good strategy. You can only succeed with proper position sizing, risk management and following correct trading Psychology (No overtrade, No greed, No revenge trade etc).
THIS INDICATOR IS FOR EDUCATIONAL PURPOSE AND PAPER TRADING ONLY. YOU MAY PAPER TRADE TO GAIN CONFIDENCE AND BUILD FURTHER ON THESE. PLEASE CONSULT YOUR FINANCIAL ADVISOR BEFORE INVESTING. WE ARE NOT SEBI REGISTERED.
Hope you all like it
happy learning.
