Reversal and Breakout Signal
The Reversal and Breakout Signal is an arrow indicator that displays the rebounds (reversals) from the levels and the broken levels.
The levels are plotted based on the deviation percentage from the current average price. The percentage is approximately from 60% to 600%.
That is, the indicator plots levels at a distance of 60 percent or more from the current average price. The value is calculated individually for different currency pairs.
If the price has rebounded from the support/resistance level the Reversal and Breakout Signal indicator draws arrows in the place of the signal and generates a sound alert (the feature is enabled separately).
Also, if the price breaks a level (enabled separately) in one direction or another, the indicator draws smaller arrows and also generates a sound alert.
The optimal timeframes for the indicator are from М15 to Н4. Currency pairs - EURUSD, EURJPY, GBPUSD, GBPJPY, USDCHF, USDCAD, USDJPY, AUDUSD, NZDUSD, XAUUSD.
The indicator has two modes
- The mode of displaying the rebound from the support/resistance levels
- The mode of displaying the rebound and breakout of the levels.
The indicator is not redrawn!
- Use alert - use an alert.
- Use breakout - display level breakouts.