CM_UCS_Modified SlingShot

v10.3
CM_UCS_Modified SlingShot

A slingshot reversal is a reliable trading pattern and is defined as a false breakout + reversal and occurs when a major support or resistance point is broken but the price does not hold below support or above resistance and moves back into it’s previous trend.

This indicator identifies and plots the slingshot pattern on the price chart. A long term trend channel (with lines) and a medium term ones (with dots) help to identify the potential continuation entries after a pullback in the major trend.

Code translated following a query in the indicator’s forum section.

 

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. afanitro424 • 08/04/2020 #

    its not plotting on chart but instead as it’s own histogram directly below chart? How to fix this problem. (Using v-10.3)

    • Nicolas • 08/04/2020 #

      by adding the indicator on the chart 🙂

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