HFX321This indicator will provide the possibility of when trend reversals may happen on shorter time frames. 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 Stochastic RSI, support, resistance and trend lines, 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 may be used.
It will show an alert Arrow (green) pointing UP for the First Candle after a pivot LOW (LL, HL) that could indicate a trend reversal.
It will show an alert Arrow (red) pointing DOWN for the First Candle after a pivot HIGH (HH, LH) that could indicate a trend reversal.
The Colour changes on the Moving Average from Red to Green and green to red 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
