Reversal Points

15 mar 2023

Hi , in this script i tried to find reversal points on big trends. For this purpose i have used Supertrend and Donchian channels. I combined both in a single indicator for finding reversal points. I am suggesting for using higher time frames like 4 hours or 1 day. It will be work in lower time frames too. But the signals will be less reliable than higher timeframes. Here is settings in this script:

New low sensitiity : this setting for donchian channels lookback. Bigger value result as less signals.
Atr Period: Period for Atr , it is for supertrend indicator in it.
Source: Source for supertrend indicator.
Atr Multiplier : Atr multiplier setting for Supertrend. Bigger value will be result as less signals.

Good luck.
Enes.

22 apr 2023

Note di rilascio

Added Signals for reversal from Bottoms.

18 nov 2024

Note di rilascio

1-Added buy sell alerts

2- Added rsi filter.

Rsi filter working like this:

In last x candles that specified in lookback setting that user can select, if rsi lower than rsi filter bottom value the filter condition become true and when filter condition true if there is a buy signal, indicator will print it. Indicator wont signal buy if there was not rsi fall under to filter value in last x candles.

Reverse is true for top signals.



Enjoy!