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Reversal Signal [5ema]
Updated
This indicator can find a reversal point when the price is oversold, the breakout is far from the EMA.
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*How to calculate?
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*How to appear signal?
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How to use?
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
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*How to calculate?
- Find the minimum (maximum) value on five EMAs: 20, 50, 200, 460, 610.
- Calculate the number left bars with condition that is completely above (below) the min (max) EMA line.
- The signal bar is Engulfing bar.
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*How to appear signal?
- Have signal bar cross the min (max) EMA line.
- The number left bars that is completely above (below) the min (max) EMA line greater than inputting.
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How to use?
- Can change the value of EMAs to suitable with symbols and strategy.
- Can change the number left bars to suitable with symbols and strategy.
- Can see the trend cloud to recognize the trending.
- Review a strategy when appear the signal on chart.
- Make the alert when appear the signal.
- Can choose only Buy or Sell signal.
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Release Notes
Update:- Signal shape style.
- Alert content.
Release Notes
Update:- Alert content.
Release Notes
Update:- Add input color of signal labels.
Disclaimer
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