BinaryMagic Reversal is an exclusive indicator to spot situations where market has gone too far and market could reverse.
The indicator displays arrows in your chart indicating probable future price action (see screenshot attached). By default, it uses orange arrows.
BinaryMagic never repaints. Once candle is closed signal is confirmed and arrow will never disappear.
Users of the indicator can setup alerts when new arrows are displayed in the chart.
Inputs of the indicator
- MaxBars: bars to draw in you chart (600 is default value)
- DistancePixels: distance between arrow of the indicator and bar in the chart
- SoundAlert (True/False): to active sound alert
- SoundFile: file to be used for sound alerts
- TestSound (True/False): to test sound at init time of the indicator
Size and color of the arrows can be setup in the Color tab of the indicator.
The indicator can be used with any time frame.
The indicator can be used to trade currencies but also commodities and equities.