Reversal Identifier MT5
- Indicators
- Version: 1.0
- Activations: 10
Reversal Identifier MT5 - An indicator that can find reversal points on a chart.
It works without redrawing or delays, identifies fractal peaks and troughs, and marks reversals with arrows.
The indicator identifies early reversal points, after which a correction or change in trend direction occurs.
The best use case for this indicator is on two time frames, using the higher time frame to determine the trend and the lower time frame to receive entry signals.
The indicator can be used alone or in conjunction with other indicators or trading systems.
"Filter level" - a parameter that adjusts the appearance of arrows, with a range from 1 to 5, allows you to control the frequency of arrows, regulating risk and opportunity.
It works without redrawing or delays, identifies fractal peaks and troughs, and marks reversals with arrows.
The indicator identifies early reversal points, after which a correction or change in trend direction occurs.
The best use case for this indicator is on two time frames, using the higher time frame to determine the trend and the lower time frame to receive entry signals.
The indicator can be used alone or in conjunction with other indicators or trading systems.
"Filter level" - a parameter that adjusts the appearance of arrows, with a range from 1 to 5, allows you to control the frequency of arrows, regulating risk and opportunity.
- Configured for use with any financial instrument.
- Suitable time frames for use are M5, M15, M30, H1, and H4. The blue arrow indicates a downward reversal, the red-orange arrow indicates an upward reversal.
- The indicator does not repaint! The arrows are fixed at the close of the candle.
- Alerts are provided for the arrows.
