Trend Reversal Finder
The indicator (oscillator) is designed to search for points of probable change in the trend direction. The analysis is performed on the prices of the specified period using one of the two built-in algorithms. Depending on the selected mode, the histogram of the oscillator changes its color when the values increase/decrease or when the zero level is crossed. In the color change mode, you can use the additional value difference filter for the increase/decrease. In this case, the colors will change provided that the current value has not only changed the direction relative to the previous one, but their difference exceeds the specified value. Indications are not redrawn after the current bar is closed.
The following options can be used as a probable direction change signal: crossing of the zero level, increase/decrease in the values (peak of valley) or backward crossing of the specified levels (upper and lower).
- Calculation period - calculation period
- Calculation price - price used for calculation
- Smoothing period - period of the initial data smoothing
- Smoothing method - smoothing method
- Rise filtration value - value of additional filtration
- Color mode - rise - color change mode (true - increase/decrease, false - crossing 0)
- Additional algo - enable/disable the improved algorithm for processing source data