Discussing the article: "Larry Williams Market Secrets (Part 11): Detecting Smash Day Reversals with a Custom Indicator"

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Check out the new article: Larry Williams Market Secrets (Part 11): Detecting Smash Day Reversals with a Custom Indicator.

We convert Larry Williams’ Smash Day reversal rules into a practical MQL5 indicator that flags confirmed setups with arrows. Step by step, the text shows buffer binding, plot properties, historical mapping, and real‑time updates inside OnCalculate. Adjustable lookback parameters and clean chart rendering help you detect valid reversals quickly while keeping final trade decisions discretionary and context‑driven.

A smash day reversal begins with a strong and emotional push in one direction that appears to confirm a breakout. The price closed beyond the recent range, suggesting momentum will continue. Instead of following through, the market quickly fails and turns back the other way on the next session. This sudden failure traps late breakout traders and often fuels a sharp move in the opposite direction.

A bullish smash reversal appears after an aggressive selloff. The smash bar closes below the lows of one or several previous bars, yet it is not an outside bar. This detail is important because the move is driven by pressure rather than by indecision. When the next bar rallies above the high of that smash bar, the downside break is proven false, and a reversal to the upside is signalled.

A bearish smash reversal is the mirror image. The smash bar closes above the highs of several previous bars without engulfing the prior range. When the next bar falls below the low of that smash bar, the upside break fails, and a downward reversal is triggered.

The key idea is simple. A move that looks strong enough to continue suddenly cannot hold its ground. That failure creates opportunity.

Author: Chacha Ian Maroa

 

thx for all; be healthy and safe


i think input for "ConfigureChartAppearance" missed ;) 

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