Return value of the Repulse technical indicator (measure the buyers and sellers force for each candlestick) over the last N periods for selected price.
The Repulse indicator measures and displays the bullish or bearish pressure associated with each price candlestick in the form of a curve.
It is more relevant when compared to price and offers valuable additional information on the feeling and confidence that traders have about the markets.
A good method of identifying trend using repulse consists of displaying, Repulse(1) (very short term), Repulse(5) (short term) and Repulse(15) (medium term) on the same chart.
On a 1-minute chart, for example, you will have a good sense of trend over the 1,5 and 15 periods.
Repulse gives excelent signals when it slows down in a 15-period view, changes direction in a 5-period view and has already changed direction for a few periods in a 1-period view while the price is approaching a level of support or resistance.
These signals become very strong when they join with divergences Cycle indicator and are accompanied by a significant increase in volume.
The success rate becomes very high if, in addition to these signals, prices beak a trend channel in the direction of the trend.
Repulses make it possible to increase significantly average profit per trade by optimizing exit points.
i1 = repulse(close)
bullish = 1
bearish = 0
ELSIF i1<0 THEN
bullish = 0
bearish = 1
RETURN bullish coloured(127,255,0), bearish coloured(255,64,64)