OPEN-SOURCE SCRIPT

Reversal Points

By Enes_Yetkin_
Updated
Hi , in this script i tried to find reversal points on big trends. For this purpose i have used Supertrend and Donchian channels. I combined both in a single indicator for finding reversal points. I am suggesting for using higher time frames like 4 hours or 1 day. It will be work in lower time frames too. But the signals will be less reliable than higher timeframes. Here is settings in this script:

New low sensitiity : this setting for donchian channels lookback. Bigger value result as less signals.
Atr Period: Period for Atr , it is for supertrend indicator in it.
Source: Source for supertrend indicator.
Atr Multiplier : Atr multiplier setting for Supertrend. Bigger value will be result as less signals.

Good luck.
Enes.
Release Notes
Added Signals for reversal from Bottoms.
Donchian Channels (DC)peakreversalsupertrendsupertrend_reversalTOPTrend Analysis

Open-source script

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