This startegy based on 3-day pattern reversal described in "Are Three-Bar
Patterns Reliable For Stocks" article by Thomas Bulkowski, presented in
January,2000 issue of Stocks&Commodities magazine.
That pattern conforms to the following rules:
- It uses daily prices, not intraday or weekly prices;
- The middle day of the three-day...
Credit to HPotter for that script
I took his script and added alerts to it. 2 lines lol
But anyway, useful to detect reversals by coloring bullish/bearish engulfing candles :)
TD Countdown is the "Second Phase" of a TD Sequential.
The idea is that a TD Sequential 8 or 9 with a proper new low signal provides good odds for reversal
If that reversal doesn't happen, that's when the TD countdown happens. TD countdown waits for 13 more new lows (basically) before expiring. Once the TD countdown expires, the odds for reversal will be even...
Kawabunga Swing Failure Points Candles (SFP) by RagingRocketBull 2019
This indicator shows Swing Failure Points (SFP) and Swing Confirmation Points (SCP) as candles on a chart.
SFP/SCP candles are used by traders as signals for trend confirmation/possible reversal.
The signal is stronger on a higher volume/larger candle size.
A Swing Failure Point...
I found myself using multiple bollinger bands a lot so I decided to add them all to one script and add the ability to adjust them by 0.2. It has helped me by not taking up as much space in the upper left corner as well as improving my in's and outs of trend continuation trades. If you manage to find a double top at +2 or greater deviation, and with a bearish...
I have a thing for pivots and SR, so this is Tom DeMark Daily Retracements Levels pivots from DeMark Indicators book by Jason Perl.
Red lines -daily R
Green lines - daily S
Expect reversals or breaks at these points.
and some random stock, just test your instrument
This oscillator is used for *mean reversion* strategies only.
This oscillator calculates the real-time distance of a price-point subtracted from the SMA, then compares it to the average distance to determine equilibrium imbalances. When the imbalance becomes less and goes under the signal line, a reversal is very likely.
Do not trade mean reversion during any...
I already shared a method to estimate tops and bottoms (1), the number of parameters could lead to optimization issues so i tried to make a simpler method. In this method i use a simple rescaling method based on individual direction deviation. I will explain further details below.
I use as source for the entire calculation an...
For any Mel Widner, Ph.D fans out there, I present this decades old "Projection Oscillator" employing PSv4.0, originally formulated by Mel Widner for TASC - July of 1995 Traders Tips. Just when you may have thought it was the end of the evolutionary line for Mel Widner technology, it's not! Basically it's a hybridization of linear regression, banding, and a...
I have collected the four PivotBoss indicators into one big indicator. Eventually I will delete the individual ones, since you can just turn off the ones you don't need in the style controller. Cheers.
When the market has been trending lower then suddenly forms a reversal wick candlestick , the likelihood of
a reversal increases since buyers have...
This indicator is inspired from the mass index indicator with the goal of telling the user when a trend is about to stop thus highlighting potential reversals.
When the indicator cross under the trigger line the trend is about to stop and may reverse, shorter length will spot shorter terms reversals but a length of 100 is a good value.
Pivot Reversal Strategy + RSI
A modified version of the standard PRS with an RSI overbought/oversold filter
Comment/uncomment "Study/Strategy" to easily switch to strategy() mode
As long as it is used in the study() version, the indicator is compatible with the Risk Management Wrapper
Separate Alerts for Buy & Sell signals
Single Alert for both Buy & Sell...
I am going to start taking requests to open source my indicators and this is the first one I decided to do. They will also be updated to Version 4 of Pinescript.
I went through and added notes on what each area of the code is, and in this particular case I added color schemes as a way to improve upon the original code.
Link to original:...
The Bollinger Imbalance Oscillator is used for *mean reversion* purposes only.
It uses Double Bollinger deviation levels to determine each level of perceived imbalance.
When price start to revert to its mean after an imbalance, small char-type arrows appear to assist with direction.
This oscillator also includes a squeeze feature on the center-line, based on...
Version 2 of my fractal pattern aid (Version 1).
I added a bouncing line between the high and low trend lines, connecting consecutive extreme points. I also chased down a pesky bug in the slope calculation...and for now I have disabled the ability to change resolution basis for extreme detection (e.g. 30m on a 1hr chart).
For fun, I added some shading to make...