OPEN-SOURCE SCRIPT
Forex Reversal Strategy [5-Min] – Optimized for Scalping & Intra
created from ![Reversal Signals [AlgoAlpha]](https://s3.tradingview.com/h/htGbg6VL_mid.png)
AlgoAlpha
📈 Description:
This Forex Reversal Strategy is designed for scalping and short-term trading on the 5-minute timeframe. It leverages reversal signals, trend confirmation, and volatility filters to capture high-probability trading opportunities.
🚀 Key Features:
✅ Reversal Signal Detection – Identifies potential trend reversals using price action.
✅ 200 EMA Trend Filter – Only takes trades in the direction of the trend.
✅ ATR-Based Stop Loss & Take Profit – Dynamically adjusts risk based on market volatility.
✅ ADX Volatility Filter – Avoids low-momentum and sideways markets.
✅ Session Filter (London & NY) – Trades only during high liquidity periods for better performance.
✅ Optimized for Forex Scalping – Ideal for pairs like EUR/USD, GBP/USD, USD/JPY, and XAU/USD.
📌 How It Works:
Long Trades: Enter when a bullish reversal is detected above the 200 EMA and market volatility is high.
Short Trades: Enter when a bearish reversal is detected below the 200 EMA and momentum confirms.
Exit Strategy: Uses ATR-based stop loss & take profit, with a 1.8:1 risk-reward ratio for optimized returns.
⚙ Customization Options:
Adjust Stop Loss ATR Multiplier for tighter or wider risk management.
Modify Risk-Reward Ratio to balance profit potential.
Enable/Disable Session Filter for 24/5 trading.
🔔 Alerts Included – Get notified when a trade opportunity arises!
📊 Recommended Timeframe: 5-Min
💰 Best Used On: Forex Pairs (EUR/USD, GBP/USD, USD/JPY, XAU/USD)
📈 Suggested Market Conditions: Trending and volatile markets.
🔥 Test it in the Strategy Tester and optimize it for your trading style! 🚀
📈 Description:
This Forex Reversal Strategy is designed for scalping and short-term trading on the 5-minute timeframe. It leverages reversal signals, trend confirmation, and volatility filters to capture high-probability trading opportunities.
🚀 Key Features:
✅ Reversal Signal Detection – Identifies potential trend reversals using price action.
✅ 200 EMA Trend Filter – Only takes trades in the direction of the trend.
✅ ATR-Based Stop Loss & Take Profit – Dynamically adjusts risk based on market volatility.
✅ ADX Volatility Filter – Avoids low-momentum and sideways markets.
✅ Session Filter (London & NY) – Trades only during high liquidity periods for better performance.
✅ Optimized for Forex Scalping – Ideal for pairs like EUR/USD, GBP/USD, USD/JPY, and XAU/USD.
📌 How It Works:
Long Trades: Enter when a bullish reversal is detected above the 200 EMA and market volatility is high.
Short Trades: Enter when a bearish reversal is detected below the 200 EMA and momentum confirms.
Exit Strategy: Uses ATR-based stop loss & take profit, with a 1.8:1 risk-reward ratio for optimized returns.
⚙ Customization Options:
Adjust Stop Loss ATR Multiplier for tighter or wider risk management.
Modify Risk-Reward Ratio to balance profit potential.
Enable/Disable Session Filter for 24/5 trading.
🔔 Alerts Included – Get notified when a trade opportunity arises!
📊 Recommended Timeframe: 5-Min
💰 Best Used On: Forex Pairs (EUR/USD, GBP/USD, USD/JPY, XAU/USD)
📈 Suggested Market Conditions: Trending and volatile markets.
🔥 Test it in the Strategy Tester and optimize it for your trading style! 🚀
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