Price Reversal

The Price Reversal oscillator identifies the potential price reversal points, while being in the overbought/oversold zones. It also displays the entry signals against the trend (sometimes these points coincide with the beginning of a new trend) (blue and red zones) and the entry points by the trend (gray areas). It consists of two lines. The blue line is the fast line, the red line is the slow one. The market entry is recommended if the value of the fast line is greater than 60 or less than -60, and slow - greater than 40 or less than -40.

Inputs

• Fast Period - fast indicator line period (default 15).
• Slow Period - slow indicator line period (default 40).
• Correctness (0-105) - degree of accuracy of the entry signals against the trend. The default is 100.

To get correct entry points, we recommend the following:

1. Adjust the indicator parameters for each traded currency pair and corresponding timeframe;
2. First, get a signal on a higher timeframe (for example, H1), then wait for a similar signal on a lower timeframe (for example, M5).