Intraday Reversal

10 thg 10, 2024

Reversal Indicator

This Reversal Indicator is designed to capture high-probability reversal trades by analyzing price action at the day’s high or low. It identifies key levels, confirms breaks, and provides clear trade entry parameters based on trader margin, offering a simple yet effective approach for managing risk and potential profit. Best timeframe for trading is 1m.

Key Features:

1. Marks the Day's High and Low Candle:
- Automatically identifies and marks the high and low of the current trading day, acting as potential reversal zones.

2. Entry Trigger:
- A trade signal is generated when the price breaks below the high/low candle.

3. Trade Entry Parameters Display:
- Before the trade entry, the indicator presents a trade entry label on the chart, displaying essential information such as Stop Loss, Take Profit, and Shares Quantity, calculated according to the trader's available margin.

4. Stop Loss:
- The Stop Loss is automatically set a specified number of ticks above the day's high (for shorts) or below the day's low (for longs), ensuring tight risk management.

5. Take Profit:
- The Take Profit level is calculated as a percentage of the Stop Loss distance, providing proportional reward-to-risk ratios based on customizable preferences.

6. Visual Take Profit Line:
- Once a trade is entered, the indicator draws a visible Take Profit line on the chart. This line is initially red, signaling an active trade. If the market hits the Take Profit target, the line turns green, indicating a successful exit.

7. Setup Reset:
- The indicator resets itself with new high / low of the day

This Reversal Indicator simplifies trade execution by automating key decisions, allowing traders to focus on managing the trade rather than constantly monitoring price action. Perfect for traders looking to capitalize on daily reversal patterns with clear risk/reward parameters.

24 thg 10, 2024

Phát hành các Ghi chú

fixed bug with TP-Preset

28 thg 10, 2024

Phát hành các Ghi chú

Added ALERTs for new HIGH / LOW