OPEN-SOURCE SCRIPT

Symbolik Sequential

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The Symbolik Sequential indicator aims to identify potential trend exhaustion points and trend reversals in the market. It consists of two main components: Setup and Countdown.

Setup:

A bullish setup occurs when there are 9 consecutive closes lower than the close 4 bars earlier.
A bearish setup occurs when there are 9 consecutive closes higher than the close 4 bars earlier.
When a setup is completed, it's called "perfected" and is shown as a triangle on the chart (green triangle for bullish, red for bearish).

Countdown:

  • After a setup is perfected, a countdown begins.
  • For a bullish countdown, it counts up to 13 when the close is lower than the low two bars earlier.
  • For a bearish countdown, it counts up to 13 when the close is higher than the high two bars earlier.
  • Countdown numbers are displayed on the chart (green at the bottom for bullish, red at the top for bearish).


Why it Signals:

  • The indicator signals potential trend exhaustion and reversal points.
  • A perfected setup (triangle) suggests that the current trend might be losing momentum.
  • A completed countdown (reaching 13) indicates a higher probability of a trend reversal.
  • Trend is weakening when both bearish and bullish countdowns are occurring at the same time.


How to Best Use It:
Setup Signals:

  • When you see a green triangle (bullish setup), it might indicate a potential bottom. Consider looking for buying opportunities.
  • When you see a red triangle (bearish setup), it might indicate a potential top. Consider looking for selling opportunities.
  • However, don't rely solely on these signals; use them in conjunction with other technical analysis tools.


Countdown:

  • As the countdown progresses, be increasingly cautious about the current trend.
  • When the countdown reaches 13, it signals a high probability of a trend reversal. Consider closing positions or preparing for a potential reversal.


Conflicting Signals:

  • The indicator doesn't show a bullish setup signal if there's an active bearish countdown, and vice versa. This helps avoid conflicting signals.
Note di rilascio
Added:

Risk Level(circles):
  • The Risk Level helps traders identify the maximum threshold that the price can reach before the reversal signal is invalidated.
  • It can be used as a stop-loss level for trades taken based on the Countdown completion.
  • Traders might look for additional confirmation when price approaches the Risk Level before entering a trade.


Countdown Deferral(+):
  • The countdown has reached 13, but the trend may not be as strong as desired for a reversal signal
  • There's a higher chance of the existing trend continuing
  • They should wait for either the deferred state to resolve or for other confirming signals before making trading decisions


Chart:
  • Updated chart picture to abide by House Rules
Note di rilascio
Updated Chart
Chart patternsforecastingreversalreversalpatternreversaltradingTrend Analysistrendtrading

Script open-source

In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

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