This is best used in conjunction with: - Bullinger's band - Dynamic support and resistance
We expect the following conditions:
- when all the stoch are overbought or overbought, they operate against the trend (backwards) - When Bollinger bands are broken - When the candle closes near a strong support or resistance
It is called a rejection candle, and it is operated against. At the same temporality in which the graph is observed
This script is published closed-source and you may privately use it freely.
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