Reversal Breakout Indicator
The indicator uses 2 Moving Average: 1 fast EMA and 1 slow EMA to define trend, reversal signal and breakout point.
Reversal Signal comes on open time, it can be used as scalping signal for short time, but be careful with this signal because it may be an anti-trend signal, the indicator tries to catch reverse point.
Breakout signal is where support or resistance was broken out, the reversal signal has failed. Breakout signal is stronger than the Reversal Signal. We can use support/resistance level to place Stop orders (buystop and sellstop).
Indicator works for all pairs, better to use on H1 or above
- Fast_Period: Fast period should be from 2
- Slow_Period: Should be higher than Fast period
- Strategy: There are 3 option: Reversal; Breakout; Reversal_Breakout
- Show_SupportResistance: show Support and Resistance
- Show_Arrows: show Buy/Sell signal
- SendMailMode: send email
- SendNotificationMode: push notifications
- SoundAlert: play sound