Reversal merchant
- Göstergeler
- Sürüm: 3.5
- Etkinleştirmeler: 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.
