Reversal point indicator

v10.3
Reversal point indicator

This indicator finds and displays the potential bullish and bearish turning points using different parameters:

LONG SIGNALS
1. Red/Green candle (reversal)
2. Bullish candle close above the open of the previous red candle
3. Space to the left (the low of the last 3 candles lower than the low of the last 50 candles)
4. default stochastic (8,3,3) was in the oversold area within the last 3 candles

SHORT SIGNALS
1. Green/Red candle (reversal)
2. Bearish candle close below the close of the previous green candle
3. Space to the left (the high of the last 3 candles higher than the high of the last 50 candles)
4. default stochastic (8,3,3) was in the overbought area within the last 3 candles

Indicator coded by a request in the English forum.

 

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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.

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  1. Francesco78 • 04/09/2017 #

    Thank you, very interesting, work well on Italy 40 with 30m TF

  2. Stenozar • 04/09/2017 #

     Buonasera Nicolas, l’indicatore va inserito sul prezzo? ho provato ma il grafico mi viene schiacciato, non capisco perchè.
    Grazie
     

    • Nicolas • 04/09/2017 #

      Replace the last line with “RETURN” only. 

  3. Francesco78 • 04/09/2017 #

    Hi Nicolas, would it be possible to show the indicator as a series of 1 and -1 to be used as a external indicator, not one to be added on the chart, in order to make the backtest easier?
     

  4. Francesco78 • 04/09/2017 #

    I actually sorted it out
    golong = longgoshort = short*-1return golong as “LONG”,goshort as “SHORT”,0

    • Juzz Me • 04/09/2017 #

      Hey Francesco, this indicator is getting way too little praise – I find it extremely useful and effective. Would love to backtest it, but I can’t really figure out what exactly you changed in the code. Mind to enlighten me? Thanks!!

  5. diegofe_2000 • 04/09/2017 #

    gracias , muy bueno

  6. iramirez55 • 04/09/2017 #

    Bonjour, excusez mon français. Est-il possible de mettre les résultats des stratégies dans Excel? Comment vous pouvez combiner plusieurs stratégies pour l’ensemble des résultats?Merci a tous.
    Hello, sorry for my English. Is there a way to put the results of the strategies in Excel? How can you combine several strategies to see overall results?Thank you

    • Nicolas • 04/09/2017 #

      Please ask general purposes questions on forums. Thanks. 

  7. Sandrine • 04/09/2017 #

    Bonsoir Nicolas,
    Je vais sans doute poser une tien un peu bête, mais serait-il possible d’avoir ce code mais pour MT4, bien que ce soit un site pour PRT ?!

    • Nicolas • 04/09/2017 #

      Si il s’agit d’une demande privée pourquoi pas, mais il faudrait passer par le service programmation: https://www.prorealcode.com/trading-programming-services/

  8. simone • 04/09/2017 #

    i try that indicator Nicolas..give me some days for see how it work

  9. ericbesoramolins • 04/09/2017 #

    No sé lo que hago mal . si en la ultima linea solo dejo “return” no funciona y si lo pongo tal qual me altera la escala. me ayudas nicolas? gracias 

    • Nicolas • 04/09/2017 #

      En la configuración de precios, use la escala automática del eje vertical para usar sólo el precio.

  10. puabai99 • 04/09/2017 #

    Hello can anyone help me turn this into mt4 code? Please. I don’t know anything about coding.

    • Nicolas • 04/09/2017 #

      This website is dedicated to Prorealtime programming. However, you can ask for personalized codes at the programming services : https://www.prorealcode.com/trading-programming-services/

  11. JohnScher • 04/09/2017 #

    Hello Nicolas.
    Good Work!
    Where can i find a basic code to trade divergences?

    • Nicolas • 04/09/2017 #

      There are many divergences indicators on the website already, please make a quick search with the website search engine. Thank you.

  12. elanoa • 04/09/2017 #

    Buonasera sig. Nicolas. Complimenti per la sua competenza. Potrebbe darmi qualche suggerimento su alcuni codici che non riesco a far funzionare in piattaforma? Grazie.

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