CyberZingFx Trend Reversal Lite
- Indicators
-
Afsal Meerankutty
Programmer and App Developer in Dubai
Forex Trader, Trading Advisor, EA Developer at CyberZingFx
http://cyberzing.com
Join MQL5 Channel - Version: 10.6
- Updated: 13 March 2023
CyberZingFx Trend Reversal is a technical indicator designed to identify potential trend reversals, swing highs, swing lows and changes in market direction.
The indicator provides Buy and Sell arrow signals together with exit signals, take profit signals, trend signals, support and resistance levels, scalping signals and price action signals.
Confirmed reversal arrow signals do not repaint.
Please see the screenshots and video below to understand the different signals displayed by the indicator.
Trading with CyberZingFx Trend Reversal
The main trading signals are the Buy and Sell reversal arrows.
A Buy Arrow indicates a potential bullish reversal area, while a Sell Arrow indicates a potential bearish reversal area.
The indicator also provides Exit signals that can be used together with reversal arrows when evaluating a setup.
Traders can additionally consider the displayed support and resistance levels, trend direction and current market structure before making a trading decision.
Recommended Timeframe
The default indicator settings are configured for the H1 timeframe.
The indicator can also be used on other timeframes. Users who want to trade on other timeframes can test the available parameters and determine suitable settings for the symbol and timeframe they trade.
Types of Signals
-
Reversal Buy and Sell arrows with Take Profit and Exit signals
-
Trend-following arrow signals
-
Trade Exit and Take Profit signals
-
Trend Line signals with Trend Change alerts
-
Support and Resistance lines
-
Quick Scalper arrow signals
-
Price Action dot signals
Alerts are available for the applicable signal types.
Reversal Signals
The Buy and Sell arrows are intended to identify potential swing and reversal areas.
Once a reversal arrow is confirmed, it remains on the chart and does not repaint.
Exit signals can provide additional information when evaluating reversal arrow signals and managing an existing trade.
Trend Signals
Trend-following arrows provide signals based on the current trend conditions identified by the indicator.
The Trend Line provides additional information about market direction and can generate an alert when the detected trend changes.
Support and Resistance
Support and Resistance lines are displayed to provide additional information about important price areas.
These levels can be considered together with reversal arrows, trend signals and price action when evaluating a setup.
Quick Scalper Signals
Quick Scalper arrows provide an additional signal type for shorter price movements.
These signals have their own alert functionality and can be enabled or disabled according to the user's trading approach.
Price Action Signals
Price Action dot signals provide another visual indication of price conditions detected by the indicator.
Alerts are available for these signals.
Alert Settings
The indicator supports several notification methods for Buy and Sell signals:
-
Popup alerts
-
Sound alerts
-
Email alerts
-
MetaTrader mobile push notifications
Alert options can be configured from the indicator settings.
Stop Loss
Stop Loss placement should be determined according to market structure and the trader's risk management rules.
For Sell signals, one approach is to place the Stop Loss above the relevant previous Higher High.
For Buy signals, one approach is to place the Stop Loss below the relevant previous Lower Low.
This allows the Stop Loss position to be based on recent market structure rather than using a fixed number of points.
Take Profit
Take Profit should be selected according to the trader's strategy, market conditions and acceptable risk-to-reward ratio.
One approach is to use a risk-to-reward ratio of approximately 1:1.5 or greater.
For example, if the distance between the entry and Stop Loss is 100 pips, a 1:1.5 risk-to-reward ratio would correspond to a Take Profit distance of approximately 150 pips.
This is an example of trade management and is not a guarantee that a particular target will be reached.
Using Exit Signals
Exit signals can be used as additional information for managing an open position.
For example, if an Exit signal appears before the selected Take Profit level is reached, a trader may choose to partially close the position or adjust the Stop Loss according to their own trading plan.
Another possible approach after taking partial profit is to move the Stop Loss toward the entry price.
The appropriate method depends on the trader's strategy and risk management.
Important
CyberZingFx Trend Reversal is a technical analysis tool. Its signals identify market conditions according to the indicator's calculations and do not guarantee future price movements or trading results.
Users should evaluate signals together with market conditions and their own analysis and risk management before making trading decisions.


Good work. Will test it out.