Big Trend Reversal
- Göstergeler
- Sürüm: 1.0
- Etkinleştirmeler: 5
Hi Traders. After a few years of forward testing this indicator, it is now available to the public. This indicator is designed for swing/positional traders. Meaning that it's not an indicator that prints daily signals. It runs a very specific command that projects forward a template. Price more specifically the tracers are observed to see when they align with the template. It's divided into two zones. The upper which is blue by default. The lower which is red by default. Each zone is accompanied by a set of numbers ranging from 10 to 90 with 10 being the most extreme. The universal sweet spot are the ranges from 30 to 10. Meaning that whenever the opposing tracer enter those zones, price has a higher probability of reverting back to the opposite direction. This indicator works really well at spotting potential bottoms with many major bottoms forming around these zones. While this indicator can be used on its own, it's best to use it in conjunction with your own methods and analysis.
HOW TO USE: For a long position, look for the positive blue tracer to move into the lower red zones. Ranges 30 to 10 are optimal zones. For selling look for the negative red tracer to move into the upper blue zones. The 30 to 10 levels apply here as well. For selling be aware that a sustained sell off isn't guaranteed. Price can weaken and go sideways at the upper levels but if you have a reason to be short via your own analysis, this is a good tool that let's you know if price is in the zone of reverting.
Limitations:
The conditions that drive the indicator are calculated on the 15 minute chart and renders up to the 20 minute. It displays on lower timeframes but anywhere from 10- 20 minutes are ideal with 15 being the most optimal. Anything over 20 and it won't render properly.
It's built for major and minor forex pairs as well as the SNP. While it does work on other instruments, these are what it is designed for and requires no adjustments.
If the indicator is loaded on too many charts at once, it can be taxing on startup. Try to limit it to charts that are forming a signal. There's also a lookback adjustment in the setting that can apply it back to a specific number of bars.
Flexible use: One way this can be used is to disable everything except the tracers and save that as a version. Apply a 200 and 50 exponential moving average and adjust the tracers to interact with the Moving Averages. When the positive tracer interacts with the 50 MA, that's a buy signal, When the red tracer interacts with the 50 MA, that's a sell signal. This version can be used on any instrument on any timeframe. It is my go to for Gold. The tracers will need to be adjusted depending on the instrument.
