Reversal merchant
- Индикаторы
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Moses Ebiakpoyerimowei Waritimi
I share my secrets on Forex Trading and investment to enable you achieve your goal with pure precision and profitable returns.
also specialize in hedging, ATR, grid trading, DLL integration, cTrader, MT4,MT5, Ninja trader, Pinescript Blockchain, web3. - Версия: 3.5
- Активации: 5
Reversal Merchant
Overview
Reversal Merchant is a non-repainting MT5 indicator that identifies high-probability market turning points.
It combines Average True Range (ATR) volatility analysis with a long-term 100-period EMA filter to catch exhaustion moves and potential reversals.
The tool draws clear buy/sell arrows directly on the chart and can optionally alert you in real time.
Core Logic
Look-Back Reversal Detection: Scans the highest highs and lowest lows over a user-defined period to locate extreme price swings.
ATR-Based Volatility Filter: Signals are only fired when the current close is within an ATR-scaled distance of recent extremes, helping avoid low-volatility noise.
EMA Trend Confirmation: Long-term 100-period EMA ensures signals align with the prevailing trend direction.
Duplicate Protection: Built-in logic prevents repeated alerts on the same bar.
Key Features
Buy/Sell arrows plotted in the main chart window (non-repainting).
Adjustable ATR multiplier to fine-tune sensitivity.
Optional alert pop-ups and custom sound notifications.
Works on all symbols and timeframes.
Lightweight code optimized for fast execution.
Inputs
LookBackPeriod (20–300) – Number of bars to search for reversal highs/lows.
ATRMultiplier (0.4–2.5) – Controls signal sensitivity to volatility.
BuyArrowColor / SellArrowColor – Customize arrow appearance.
ArrowSize (1–3) – Arrow size on the chart.
EnableAlerts / AlertSound – Turn on alerts and choose a sound file.
MinATR – Minimum ATR value for very quiet markets.
RequirePriceCross – Optionally require a close beyond the previous bar to confirm momentum.
Best Practices
Combine with price action or higher-timeframe analysis for confirmation.
Test different ATR multipliers to match the instrument’s volatility.
Ideal for swing trading and intraday setups.
Disclaimer
This indicator provides analytical signals only. It is not a complete trading system.
Always practice proper risk management and test on a demo account before live trading.
