HFX543
This indicator will provide the possibility of when trend reversals may happen on any time frame. It can work on any time frame and the use of Heiken Ashi candles can enhance it further.
When used with other indicators such as the MACD it can increase the possibility of a trend reversal being identified. On shorter time frames the alerts are much more frequent therefore can be less accurate so other indicators can be used.
It will show an alert Arrow for the First Flat BOTTOM Candle that has flipped on the PSAR and when the MACD has a crossover to the upside within one bar either side of the candle and those that are directly below the candle.
It will show an alert Arrow for the First Flat TOP HA Candle that has flipped on the PSAR + when the MACD has a crossover to the downside within one bar either side of the candle and those that are directly below the candle.
The Bollinger Bands have been added to enhance the possibility of a trend reversal occurring when the price reaches the Bollinger Band extremities and these should be paid attention to along with the Higher Highs (HH) and Lower Lows (LL).
The Colour changes on the Bollinger Band Moving Average from Red to Green to support a trend change possibility.
This has been designed to provide a visual confirmation that selected indicators have met certain criteria and that the trend has the possibility of reversing in the near future.
It is NOT meant to be a trading system or offer trading advice. The indicator offers only possibilities of trend reversals when the above criteria is met.
This is designed for Trend analysis ONLY.
To gain access to this invite only script, please send me a private message on Trading View so I can assist you further.
Thanks Les Gallagher
When used with other indicators such as the MACD it can increase the possibility of a trend reversal being identified. On shorter time frames the alerts are much more frequent therefore can be less accurate so other indicators can be used.
It will show an alert Arrow for the First Flat BOTTOM Candle that has flipped on the PSAR and when the MACD has a crossover to the upside within one bar either side of the candle and those that are directly below the candle.
It will show an alert Arrow for the First Flat TOP HA Candle that has flipped on the PSAR + when the MACD has a crossover to the downside within one bar either side of the candle and those that are directly below the candle.
The Bollinger Bands have been added to enhance the possibility of a trend reversal occurring when the price reaches the Bollinger Band extremities and these should be paid attention to along with the Higher Highs (HH) and Lower Lows (LL).
The Colour changes on the Bollinger Band Moving Average from Red to Green to support a trend change possibility.
This has been designed to provide a visual confirmation that selected indicators have met certain criteria and that the trend has the possibility of reversing in the near future.
It is NOT meant to be a trading system or offer trading advice. The indicator offers only possibilities of trend reversals when the above criteria is met.
This is designed for Trend analysis ONLY.
To gain access to this invite only script, please send me a private message on Trading View so I can assist you further.
Thanks Les Gallagher